HP Inc. (NYSE:HPQ) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 23,667,768 shares, a decline of 21.8% from the October 14th total of 30,272,388 shares. Currently, 1.4% of the company’s stock are sold short. Based on an average daily volume of 13,641,139 shares, the short-interest ratio is currently 1.7 days.

In other HP news, insider Marie Myers sold 10,269 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $14.55, for a total transaction of $149,413.95. Following the completion of the sale, the insider now directly owns 22,390 shares of the company’s stock, valued at approximately $325,774.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tracy S. Keogh sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $15.00, for a total value of $1,500,000.00. Following the sale, the insider now directly owns 213,582 shares of the company’s stock, valued at $3,203,730. The disclosure for this sale can be found here. Company insiders own 0.51% of the company’s stock.

A number of hedge funds have recently made changes to their positions in HPQ. American International Group Inc. boosted its stake in shares of HP by 5.0% in the third quarter. American International Group Inc. now owns 32,897,063 shares of the computer maker’s stock valued at $510,891,000 after buying an additional 1,561,329 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of HP by 9.2% in the third quarter. Bank of New York Mellon Corp now owns 28,494,223 shares of the computer maker’s stock valued at $442,517,000 after buying an additional 2,403,888 shares during the last quarter. Northern Trust Corp boosted its stake in shares of HP by 1.6% in the third quarter. Northern Trust Corp now owns 21,870,150 shares of the computer maker’s stock valued at $339,644,000 after buying an additional 350,310 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of HP by 4.6% in the third quarter. BlackRock Fund Advisors now owns 21,674,708 shares of the computer maker’s stock valued at $336,608,000 after buying an additional 952,392 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of HP by 28.8% in the third quarter. Wells Fargo & Company MN now owns 11,681,887 shares of the computer maker’s stock valued at $181,420,000 after buying an additional 2,614,757 shares during the last quarter. Institutional investors and hedge funds own 78.89% of the company’s stock.

A number of analysts have commented on HPQ shares. Credit Suisse Group AG reissued a “buy” rating and set a $19.00 price objective on shares of HP in a report on Friday, August 12th. Argus boosted their price objective on HP from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, August 29th. Jefferies Group upped their target price on HP from $16.00 to $16.75 and gave the company a “buy” rating in a report on Thursday, August 25th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $15.00 target price on shares of HP in a report on Thursday, August 25th. Finally, Brean Capital reaffirmed a “buy” rating and issued a $18.00 target price on shares of HP in a report on Tuesday, September 13th. Sixteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. HP currently has a consensus rating of “Hold” and an average price target of $15.48.

Shares of HP (NYSE:HPQ) opened at 15.87 on Friday. The company has a market capitalization of $27.15 billion, a PE ratio of 8.45 and a beta of 1.53. The company has a 50 day moving average price of $14.88 and a 200 day moving average price of $13.78. HP has a 1-year low of $8.91 and a 1-year high of $15.96.

HP (NYSE:HPQ) last announced its quarterly earnings results on Wednesday, August 24th. The computer maker reported $0.48 EPS for the quarter, topping the consensus estimate of $0.44 by $0.04. The business had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.44 billion. HP had a net margin of 5.41% and a return on equity of 106.26%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.88 EPS. Equities analysts predict that HP will post $1.61 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 4th. Shareholders of record on Wednesday, December 14th will be paid a $0.1327 dividend. The ex-dividend date is Monday, December 12th. This represents a $0.53 annualized dividend and a yield of 3.34%. This is a boost from HP’s previous quarterly dividend of $0.12. HP’s payout ratio is presently 26.74%.

About HP

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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