HP Inc. (HPQ) to Issue Quarterly Dividend of $0.28 on July 13th

HP Inc. (NYSE:HPQGet Free Report) declared a quarterly dividend on Wednesday, May 15th, RTT News reports. Investors of record on Wednesday, June 12th will be given a dividend of 0.2756 per share by the computer maker on Saturday, July 13th. This represents a $1.10 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Wednesday, June 12th.

HP has raised its dividend by an average of 13.7% annually over the last three years and has increased its dividend every year for the last 14 years. HP has a dividend payout ratio of 29.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect HP to earn $3.65 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 30.1%.

HP Stock Down 0.9 %

Shares of HP stock opened at $31.07 on Friday. The firm has a market cap of $30.47 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 2.62 and a beta of 1.06. The company’s fifty day simple moving average is $29.31 and its two-hundred day simple moving average is $29.12. HP has a 12-month low of $25.22 and a 12-month high of $33.90.

HP (NYSE:HPQGet Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.81. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The company had revenue of $13.19 billion for the quarter, compared to the consensus estimate of $13.56 billion. During the same quarter in the previous year, the business earned $0.75 EPS. HP’s revenue was down 4.4% compared to the same quarter last year. As a group, sell-side analysts expect that HP will post 3.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on HPQ. Barclays boosted their price objective on shares of HP from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Thursday, February 29th. HSBC raised shares of HP from a “hold” rating to a “buy” rating and increased their price target for the stock from $30.00 to $33.00 in a research note on Wednesday, February 14th. StockNews.com lowered shares of HP from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Finally, Bank of America upped their target price on HP from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $33.33.

Check Out Our Latest Report on HPQ

Insider Activity

In related news, insider Kristen M. Ludgate sold 41,015 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total value of $1,199,278.60. Following the transaction, the insider now owns 56,169 shares in the company, valued at approximately $1,642,381.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Stephanie Liebman sold 8,708 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $30.93, for a total transaction of $269,338.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kristen M. Ludgate sold 41,015 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total value of $1,199,278.60. Following the completion of the transaction, the insider now directly owns 56,169 shares in the company, valued at $1,642,381.56. The disclosure for this sale can be found here. Insiders sold 116,723 shares of company stock worth $3,479,287 over the last three months. 0.41% of the stock is currently owned by corporate insiders.

HP Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for HP (NYSE:HPQ)

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