Investors Buy Shares of Hewlett-Packard Co. (HPQ) on Weakness
Investors purchased shares of Hewlett-Packard Co. (NYSE:HPQ) on weakness during trading hours on Wednesday. $40.88 million flowed into the stock on the tick-up and $22.92 million flowed out of the stock on the tick-down, for a money net flow of $17.96 million into the stock. Of all companies tracked, Hewlett-Packard had the 16th highest net in-flow for the day. Hewlett-Packard traded down ($0.19) for the day and closed at $13.99
A number of equities research analysts have weighed in on HPQ shares. Bank of America Corp. reissued a “buy” rating on shares of Hewlett-Packard in a report on Sunday, April 17th. Zacks Investment Research lowered shares of Hewlett-Packard from a “hold” rating to a “sell” rating in a research note on Wednesday, April 27th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $13.00 price objective on shares of Hewlett-Packard in a research note on Thursday, May 26th. BMO Capital Markets reaffirmed a “hold” rating and issued a $12.00 price objective on shares of Hewlett-Packard in a research note on Thursday, May 26th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $12.00 price objective (up from $10.00) on shares of Hewlett-Packard in a research note on Thursday, May 26th. Nineteen equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $16.52.
The firm has a market cap of $23.93 billion and a PE ratio of 7.34. The company’s 50 day moving average price is $13.24 and its 200 day moving average price is $11.87.
Hewlett-Packard (NYSE:HPQ) last posted its quarterly earnings results on Wednesday, May 25th. The computer maker reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. The firm had revenue of $11.59 billion for the quarter, compared to the consensus estimate of $11.73 billion. Hewlett-Packard’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.87 EPS. On average, equities analysts forecast 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. Stockholders of record on Wednesday, September 14th will be given a dividend of $0.124 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.55%.
In other news, insider Tracy S. Keogh sold 100,000 shares of the stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $14.00, for a total transaction of $1,400,000.00. Following the transaction, the insider now owns 213,582 shares of the company’s stock, valued at approximately $2,990,148. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Tracy S. Keogh sold 200,000 shares of the stock in a transaction on Friday, May 27th. The stock was sold at an average price of $13.14, for a total value of $2,628,000.00. Following the transaction, the insider now directly owns 313,582 shares in the company, valued at approximately $4,120,467.48. The disclosure for this sale can be found here.
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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