Short Interest in HP Inc. (NYSE:HPQ) Decreases By 5.3%

HP Inc. (NYSE:HPQ) was the target of a large decline in short interest during the month of June. As of June 15th, there was short interest totalling 22,310,000 shares, a decline of 5.3% from the May 31st total of 23,570,000 shares. Based on an average trading volume of 7,940,000 shares, the days-to-cover ratio is presently 2.8 days. Currently, 2.3% of the shares of the stock are short sold.

Analyst Ratings Changes

HPQ has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on HP from $34.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Barclays boosted their price objective on HP from $30.00 to $33.00 and gave the company an “equal weight” rating in a report on Thursday, May 30th. UBS Group boosted their price objective on HP from $31.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, May 30th. Citigroup boosted their price objective on HP from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Finally, Morgan Stanley boosted their price objective on HP from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $34.64.

HP Trading Up 0.1 %

Shares of HPQ stock opened at $34.85 on Thursday. HP has a twelve month low of $25.22 and a twelve month high of $39.52. The stock has a market capitalization of $34.10 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 2.23 and a beta of 1.09. The stock has a fifty day simple moving average of $33.00 and a two-hundred day simple moving average of $30.66.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 29th. The computer maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.81 by $0.01. The firm had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.61 billion. HP had a negative return on equity of 230.39% and a net margin of 5.60%. The business’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.80 EPS. Research analysts predict that HP will post 3.45 EPS for the current fiscal year.

HP Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 11th will be given a $0.2756 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Wednesday, September 11th. HP’s payout ratio is 37.16%.

Insiders Place Their Bets

In other news, insider Alex Cho sold 173,137 shares of HP stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $36.11, for a total value of $6,251,977.07. Following the completion of the transaction, the insider now owns 64,676 shares in the company, valued at approximately $2,335,450.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in HPQ. Rosenberg Matthew Hamilton increased its position in HP by 84.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock valued at $26,000 after buying an additional 397 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of HP in the fourth quarter worth about $28,000. Sawyer & Company Inc boosted its stake in shares of HP by 900.0% in the first quarter. Sawyer & Company Inc now owns 1,000 shares of the computer maker’s stock worth $30,000 after buying an additional 900 shares during the last quarter. Janiczek Wealth Management LLC boosted its stake in shares of HP by 116.7% in the fourth quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock worth $32,000 after buying an additional 566 shares during the last quarter. Finally, Rise Advisors LLC boosted its stake in shares of HP by 377.9% in the first quarter. Rise Advisors LLC now owns 1,061 shares of the computer maker’s stock worth $32,000 after buying an additional 839 shares during the last quarter. 77.53% of the stock is owned by institutional investors.

About HP

HP Inc provides products, technologies, software, solutions, and services to individual consumers, small- and medium-sized businesses, and large enterprises, including customers in the government, health, and education sectors worldwide. It operates through Personal Systems and Printing segments. The Personal Systems segment offers commercial personal computers (PCs), consumer PCs, workstations, thin clients, commercial tablets and mobility devices, retail point-of-sale systems, displays and other related accessories, software, support, and services for the commercial and consumer markets.