H-P shares hit a 52-week high of 82 3/8 in May before plunging to a low of 56 in late June. Fourteen of the 24 institutional investment firms following the stock maintain either a "buy" or "strong buy" recommendation.
In an unrelated announcement, H-P said it had approved an increase in the authorisation for the systematic share-repurchase program of $1bn (0.61bn). About $500m (£304m) remains from earlier authorisations for the repurchase program.
It also announced a new authorisation of $2bn (1.21bn) for the repurchase of H-P common stock in the open market or in private transactions.