Hewlett-Packard Co. (HPQ) Hits New 12-Month High at $14.88
Hewlett-Packard Co. (NYSE:HPQ) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $14.88 and last traded at $14.79, with a volume of 7,505,175 shares. The stock had previously closed at $14.54.
Several research analysts recently issued reports on HPQ shares. Jefferies Group reissued a “buy” rating and set a $16.75 target price on shares of Hewlett-Packard in a report on Tuesday, September 13th. RBC Capital Markets reissued a “sector perform” rating and set a $14.00 target price (up previously from $12.00) on shares of Hewlett-Packard in a report on Monday, August 22nd. Royal Bank Of Canada raised their target price on shares of Hewlett-Packard from $12.00 to $14.00 and gave the stock a “sector perform” rating in a report on Monday, August 22nd. Vetr cut shares of Hewlett-Packard from a “strong-buy” rating to a “buy” rating and set a $16.12 target price for the company. in a report on Monday. Finally, Morgan Stanley reissued an “overweight” rating and set a $16.00 target price (up previously from $15.00) on shares of Hewlett-Packard in a report on Friday, August 26th. Eighteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $14.76.
The company’s 50 day moving average price is $14.39 and its 200 day moving average price is $13.05. The stock has a market cap of $25.35 billion, a P/E ratio of 7.889 and a beta of 1.59.
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Hewlett-Packard (NYSE:HPQ) last released its quarterly earnings results on Wednesday, August 24th. The computer maker reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.04. Hewlett-Packard had a net margin of 5.41% and a return on equity of 106.26%. The company had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.44 billion. During the same period last year, the company earned $0.88 EPS. The firm’s revenue for the quarter was down 3.8% compared to the same quarter last year. On average, analysts anticipate that Hewlett-Packard Co. will post $1.61 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Shareholders of record on Wednesday, September 14th will be paid a dividend of $0.124 per share. The ex-dividend date is Monday, September 12th. This represents a $0.50 annualized dividend and a dividend yield of 3.41%. Hewlett-Packard’s dividend payout ratio is currently 26.74%.
In related news, insider Marie Myers sold 10,269 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $14.55, for a total value of $149,413.95. Following the sale, the insider now directly owns 22,390 shares of the company’s stock, valued at $325,774.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tracy S. Keogh sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $14.50, for a total transaction of $1,450,000.00. Following the completion of the sale, the insider now directly owns 213,582 shares in the company, valued at $3,096,939. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.
Several large investors have recently added to or reduced their stakes in HPQ. Wealthfront Inc. boosted its stake in 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. Strategic Wealth Advisors Group LLC acquired a new position in shares of Hewlett-Packard during the second quarter worth $429,000. Stifel Financial Corp acquired a new position in shares of Hewlett-Packard during the second quarter worth $1,610,000. Cypress Capital Group acquired a new position in shares of Hewlett-Packard during the second quarter worth $512,000. Finally, IFP Advisors Inc boosted its position 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 period. 78.54% of the stock is currently owned by institutional investors and hedge funds.
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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