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

HP Inc. (NYSE:HPQ - Get Free Report) announced a quarterly dividend on Tuesday, June 10th, RTT News reports. Stockholders of record on Wednesday, September 10th will be paid a dividend of 0.2894 per share by the computer maker on Wednesday, October 1st. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date is Wednesday, September 10th.

HP has a payout ratio of 31.5% indicating that its dividend is sufficiently covered by earnings. 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

NYSE HPQ traded down $0.73 during trading hours on Wednesday, hitting $24.83. 6,239,847 shares of the company's stock were exchanged, compared to its average volume of 8,407,808. The business's 50 day moving average is $25.62 and its 200-day moving average is $30.07. HP has a 12-month low of $21.21 and a 12-month high of $39.79. The firm has a market capitalization of $23.32 billion, a P/E ratio of 8.84, a price-to-earnings-growth ratio of 2.96 and a beta of 1.30.

HP (NYSE:HPQ - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.09). The firm had revenue of $13.22 billion for the quarter, compared to analysts' expectations of $13.09 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. HP's revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm posted $0.82 EPS. As a group, equities research analysts anticipate that HP will post 3.56 EPS for the current fiscal year.

Insider Buying and Selling at HP

In other HP news, insider Anneliese Olson sold 21,545 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $28.49, for a total transaction of $613,817.05. Following the sale, the insider now directly owns 169 shares in the company, valued at approximately $4,814.81. The trade was a 99.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephanie Liebman sold 15,646 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $29.00, for a total value of $453,734.00. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HPQ. Bank of America cut their price target on shares of HP from $35.00 to $33.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Wall Street Zen upgraded shares of HP from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Barclays set a $28.00 price target on HP and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. Loop Capital cut their price objective on HP from $35.00 to $30.00 and set a "hold" rating on the stock in a research note on Tuesday, March 4th. Finally, JPMorgan Chase & Co. decreased their target price on HP from $30.00 to $27.00 and set an "overweight" rating for the company in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, HP presently has an average rating of "Hold" and an average target price of $29.54.

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.