HP Inc. (NYSE:HPQ) Declares $0.28 Quarterly Dividend

HP Inc. (NYSE:HPQGet Free Report) announced a quarterly dividend on Tuesday, June 11th, RTT News reports. Stockholders of record on Wednesday, September 11th will be given a dividend of 0.2756 per share by the computer maker on Wednesday, October 2nd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.04%.

HP has increased its dividend by an average of 13.7% per year over the last three years. HP has a payout ratio of 29.5% meaning its dividend is sufficiently covered by earnings. Analysts expect HP to earn $3.71 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 29.6%.

HP Stock Up 0.4 %

Shares of HP stock traded up $0.14 during trading hours on Tuesday, reaching $36.32. 7,707,093 shares of the company’s stock were exchanged, compared to its average volume of 8,234,733. HP has a 1 year low of $25.22 and a 1 year high of $39.52. The company has a market capitalization of $35.54 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 2.32 and a beta of 1.11. The business has a fifty day moving average of $30.69 and a two-hundred day moving average of $29.94.

HP (NYSE:HPQGet Free Report) last released its earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. HP had a net margin of 5.60% and a negative return on equity of 230.39%. The business had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.61 billion. During the same quarter in the prior year, the firm earned $0.80 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, research analysts predict that HP will post 3.45 EPS for the current year.

Insider Buying and Selling

In related news, Director Robert R. Bennett sold 67,000 shares of HP stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the completion of the sale, the director now owns 60,216 shares in the company, valued at approximately $1,807,082.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HPQ. StockNews.com lowered shares of HP from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. TD Cowen upped their price objective on shares of HP from $30.00 to $32.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Bank of America upped their price objective on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, May 30th. Morgan Stanley upped their price objective on shares of HP from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. Finally, Barclays upped their target price on shares of HP from $30.00 to $33.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.64.

View Our Latest Stock Analysis on HPQ

About HP

(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.

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Dividend History for HP (NYSE:HPQ)

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