Hewlett-Packard Co. (NYSE:HPQ) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 21,493,698 shares, a drop of 13.2% from the August 15th total of 24,756,824 shares. Based on an average trading volume of 13,899,133 shares, the days-to-cover ratio is presently 1.5 days. Currently, 1.3% of the shares of the company are sold short.
Hewlett-Packard (NYSE:HPQ) opened at 14.99 on Thursday. The company has a 50 day moving average of $14.42 and a 200-day moving average of $13.06. The stock has a market capitalization of $25.65 billion, a P/E ratio of 7.98 and a beta of 1.59. Hewlett-Packard has a one year low of $8.91 and a one year high of $15.00.
Hewlett-Packard (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, August 24th. The computer maker reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. Hewlett-Packard had a return on equity of 106.26% and a net margin of 5.41%. The company earned $11.89 billion during the quarter, compared to analyst estimates of $11.44 billion. During the same quarter last year, the firm posted $0.88 earnings per share. The firm’s revenue was down 3.8% on a year-over-year basis. Equities research analysts predict that Hewlett-Packard will post $1.61 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Wednesday, September 14th will be paid a $0.124 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Monday, September 12th. Hewlett-Packard’s payout ratio is 26.74%.
In related news, insider Tracy S. Keogh sold 100,000 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $14.50, for a total transaction of $1,450,000.00. Following the transaction, the insider now directly owns 213,582 shares of the company’s stock, valued at $3,096,939. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Marie Myers sold 10,269 shares of the firm’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $14.55, for a total transaction of $149,413.95. Following the transaction, the insider now directly owns 22,390 shares in the company, valued at $325,774.50. The disclosure for this sale can be found here. Corporate insiders own 0.51% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. IFP Advisors Inc raised its stake in shares of Hewlett-Packard by 0.3% in the second quarter. IFP Advisors Inc now owns 22,658 shares of the computer maker’s stock worth $284,000 after buying an additional 72 shares during the last quarter. Thompson Investment Management Inc. raised its position in shares of Hewlett-Packard by 0.3% in the second quarter. Thompson Investment Management Inc. now owns 40,620 shares of the computer maker’s stock valued at $510,000 after buying an additional 120 shares in the last quarter. Wealthsource Partners LLC raised its position in shares of Hewlett-Packard by 15.5% in the second quarter. Wealthsource Partners LLC now owns 16,390 shares of the computer maker’s stock valued at $206,000 after buying an additional 2,196 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in shares of Hewlett-Packard by 25.1% in the second quarter. Cullen Frost Bankers Inc. now owns 13,710 shares of the computer maker’s stock valued at $172,000 after buying an additional 2,755 shares in the last quarter. Finally, Wealthfront Inc. raised its position in shares of Hewlett-Packard by 27.2% in the second quarter. Wealthfront Inc. now owns 17,036 shares of the computer maker’s stock valued at $214,000 after buying an additional 3,638 shares in the last quarter. 78.54% of the stock is owned by institutional investors.
Several research firms have commented on HPQ. FBN Securities reissued a “sector perform” rating on shares of Hewlett-Packard in a report on Thursday, September 8th. Jefferies Group reissued a “buy” rating and issued a $16.75 target price on shares of Hewlett-Packard in a report on Wednesday, September 7th. Vetr lowered shares of Hewlett-Packard from a “strong-buy” rating to a “buy” rating and set a $16.12 target price on the stock. in a report on Monday. RBC Capital Markets reissued a “sector perform” rating and issued a $14.00 target price on shares of Hewlett-Packard in a report on Tuesday, September 13th. Finally, Brean Capital reissued a “buy” rating and issued a $18.00 target price on shares of Hewlett-Packard in a report on Tuesday, September 13th. Eighteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Hewlett-Packard currently has a consensus rating of “Hold” and a consensus target price of $14.76.
HP Inc, formerly Hewlett-Packard Company, is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses and large enterprises. The Company operates in seven business segments: Personal Systems, Printing, the Enterprise Group, Enterprise Services, Software, HP Financial Services and Corporate Investments.
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