HP Inc. (NYSE:HPQ) Short Interest Down 5.3% in June

HP Inc. (NYSE:HPQ) was the recipient of a significant decline in short interest in 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. Currently, 2.3% of the shares of the company are short sold. Based on an average trading volume of 7,940,000 shares, the days-to-cover ratio is currently 2.8 days.

Insider Transactions at HP

In related news, insider Alex Cho sold 173,137 shares of the business’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $36.11, for a total transaction of $6,251,977.07. Following the completion of the sale, the insider now directly owns 64,676 shares in the company, valued at $2,335,450.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On HP

A number of hedge funds have recently bought and sold shares of the business. Whittier Trust Co. raised its stake in HP by 1.4% during the fourth quarter. Whittier Trust Co. now owns 25,848 shares of the computer maker’s stock valued at $778,000 after purchasing an additional 362 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in HP by 11.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 3,568 shares of the computer maker’s stock valued at $125,000 after purchasing an additional 372 shares in the last quarter. Salem Investment Counselors Inc. raised its stake in HP by 47.9% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock valued at $36,000 after purchasing an additional 380 shares in the last quarter. Jacobi Capital Management LLC increased its position in HP by 1.2% during the first quarter. Jacobi Capital Management LLC now owns 34,228 shares of the computer maker’s stock valued at $1,034,000 after acquiring an additional 390 shares during the last quarter. Finally, Rosenberg Matthew Hamilton lifted its holdings in shares of HP by 84.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after acquiring an additional 397 shares during the last quarter. Hedge funds and other institutional investors own 77.53% of the company’s stock.

HP Price Performance

Shares of HPQ stock traded up $0.05 during mid-day trading on Wednesday, hitting $34.85. The company had a trading volume of 3,985,175 shares, compared to its average volume of 8,227,073. HP has a 52-week low of $25.22 and a 52-week high of $39.52. The stock’s 50 day moving average price is $33.00 and its 200-day moving average price is $30.66. The company has a market capitalization of $34.10 billion, a P/E ratio of 11.81, a P/E/G ratio of 2.23 and a beta of 1.09.

HP (NYSE:HPQ) last released its 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 for the quarter, compared to the consensus estimate of $12.61 billion. HP had a net margin of 5.60% and a negative return on equity of 230.39%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 earnings per share. On average, equities research analysts expect that HP will post 3.45 earnings per share for the current year.

HP Dividend Announcement

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

Analyst Upgrades and Downgrades

HPQ has been the subject of several recent research reports. Morgan Stanley boosted their target price on shares of HP from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Bank of America upped their price target on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. Citigroup upped their price target on shares of HP from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, May 30th. UBS Group upped their price target on shares of HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, May 30th. Finally, TD Cowen upped their price target on shares of HP from $30.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.64.

HP Company Profile

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.