HP Inc. (NYSE:HPQ) Announces $0.29 Quarterly Dividend

HP Inc. (NYSE:HPQ) announced a quarterly dividend on Wednesday, May 14th, RTT News reports. Stockholders of record on Wednesday, June 11th will be given a dividend of 0.2894 per share by the computer maker on Wednesday, July 2nd. This represents a $1.16 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend is Wednesday, June 11th.

HP has increased its dividend by an average of 10.3% per year over the last three years and has increased its dividend every year for the last 15 years. HP has a payout ratio of 32.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect HP to earn $3.78 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 30.7%.

HP Stock Performance

Shares of HP stock opened at $28.78 on Friday. The stock has a 50 day moving average of $26.12 and a 200 day moving average of $31.37. The firm has a market capitalization of $27.13 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 2.96 and a beta of 1.32. HP has a fifty-two week low of $21.21 and a fifty-two week high of $39.80.

HP (NYSE:HPQ) last released its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. The business had revenue of $13.50 billion during the quarter, compared to analysts’ expectations of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. Analysts forecast that HP will post 3.56 EPS for the current year.

Insider Activity

In related news, insider Anneliese Olson sold 21,545 shares of HP stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $28.49, for a total value of $613,817.05. Following the completion of the transaction, the insider now owns 169 shares in the company, valued at $4,814.81. The trade was a 99.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephanie Liebman sold 15,646 shares of the business’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $29.00, for a total transaction of $453,734.00. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Wall Street Analyst Weigh In

HPQ has been the topic of several recent analyst reports. Evercore ISI decreased their price objective on shares of HP from $40.00 to $32.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. Barclays upped their price target on HP from $35.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. TD Cowen lowered their price target on HP from $39.00 to $38.00 and set a “hold” rating for the company in a research report on Friday, February 28th. StockNews.com upgraded HP from a “hold” rating to a “buy” rating in a report on Monday. Finally, Citigroup lowered their target price on HP from $36.50 to $25.00 and set a “neutral” rating for the company in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $33.83.

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.