HP Inc (HPQ) Short Interest Update

HP Inc (NYSE:HPQ) was the recipient of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 26,465,513 shares, a drop of 18.3% from the November 30th total of 32,385,712 shares. Currently, 1.6% of the company’s stock are sold short. Based on an average trading volume of 10,513,240 shares, the days-to-cover ratio is presently 2.5 days.

Shares of HP (HPQ) opened at $21.75 on Monday. The stock has a market capitalization of $35,783.71, a PE ratio of 14.60, a PEG ratio of 2.30 and a beta of 1.82. The company has a debt-to-equity ratio of -1.98, a quick ratio of 0.74 and a current ratio of 1.00. HP has a 1-year low of $14.40 and a 1-year high of $22.68.

HP (NYSE:HPQ) last announced its quarterly earnings results on Tuesday, November 21st. The computer maker reported $0.44 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. The business had revenue of $13.93 billion during the quarter, compared to analyst estimates of $13.36 billion. HP had a negative return on equity of 70.25% and a net margin of 4.85%. The firm’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.36 EPS. sell-side analysts anticipate that HP will post 1.79 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 3rd. Investors of record on Wednesday, December 13th were paid a $0.1393 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.56%. This is an increase from HP’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Tuesday, December 12th. HP’s dividend payout ratio (DPR) is presently 37.58%.

HPQ has been the subject of a number of research reports. Guggenheim restated a “neutral” rating on shares of HP in a research report on Monday, October 2nd. Morgan Stanley raised their price objective on HP from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, October 13th. Jefferies Group restated a “hold” rating and set a $20.00 price objective on shares of HP in a research report on Sunday, October 8th. Zacks Investment Research upgraded HP from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Tuesday, October 10th. Finally, Deutsche Bank restated a “buy” rating and set a $23.00 price objective (up from $22.00) on shares of HP in a research report on Friday, October 6th. Twelve analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $21.31.

In other HP news, insider Marie Myers sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $21.55, for a total transaction of $215,500.00. Following the completion of the sale, the insider now directly owns 21,966 shares in the company, valued at approximately $473,367.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Enrique Lores sold 40,965 shares of the firm’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $21.50, for a total value of $880,747.50. The disclosure for this sale can be found here. Insiders have sold a total of 1,065,836 shares of company stock valued at $22,701,021 over the last 90 days. Corporate insiders own 0.62% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. CAPROCK Group Inc. raised its stake in shares of HP by 104.5% in the 3rd quarter. CAPROCK Group Inc. now owns 43,348 shares of the computer maker’s stock valued at $871,000 after acquiring an additional 22,150 shares in the last quarter. Swiss National Bank raised its stake in shares of HP by 0.6% in the 3rd quarter. Swiss National Bank now owns 6,208,592 shares of the computer maker’s stock valued at $123,923,000 after acquiring an additional 34,800 shares in the last quarter. Meyer Handelman Co. raised its stake in shares of HP by 3.1% in the 3rd quarter. Meyer Handelman Co. now owns 449,414 shares of the computer maker’s stock valued at $8,971,000 after acquiring an additional 13,600 shares in the last quarter. State of Wisconsin Investment Board raised its stake in shares of HP by 43.9% in the 3rd quarter. State of Wisconsin Investment Board now owns 2,151,950 shares of the computer maker’s stock valued at $42,953,000 after acquiring an additional 656,546 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of HP by 17.4% in the 3rd quarter. Principal Financial Group Inc. now owns 4,829,133 shares of the computer maker’s stock valued at $96,389,000 after acquiring an additional 716,899 shares in the last quarter. 80.89% of the stock is currently owned by institutional investors and hedge funds.

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HP Company Profile

HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.

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