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

HP Inc. (NYSE:HPQ - Get Free Report) announced a quarterly dividend on Tuesday, June 10th, RTT News reports. Investors 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 annualized dividend and a dividend yield of 4.85%. The ex-dividend date of this dividend is Wednesday, September 10th.

HP has a dividend payout ratio of 31.5% indicating that its dividend is sufficiently covered by earnings. 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 $0.89 during mid-day trading on Friday, hitting $23.85. 7,075,612 shares of the stock were exchanged, compared to its average volume of 7,855,491. The firm's 50-day simple moving average is $25.69 and its 200 day simple moving average is $29.93. The stock has a market capitalization of $22.40 billion, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of 2.96 and a beta of 1.30. HP has a fifty-two week low of $21.21 and a fifty-two week high of $39.80.

HP (NYSE:HPQ - Get Free Report) last released its earnings results on Wednesday, May 28th. The computer maker reported $0.71 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.09). The firm had revenue of $13.22 billion during the quarter, compared to the consensus estimate of $13.09 billion. HP had a net margin of 5.18% and a negative return on equity of 253.39%. HP's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.82 earnings per share. On average, analysts predict that HP will post 3.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on HPQ shares. Wall Street Zen upgraded HP from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Evercore ISI reduced their price objective on shares of HP from $40.00 to $32.00 and set an "outperform" rating on the stock in a research note on Monday, April 28th. Loop Capital lowered their target price on shares of HP from $35.00 to $30.00 and set a "hold" rating for the company in a research note on Tuesday, March 4th. Morgan Stanley dropped their target price on shares of HP from $29.00 to $26.00 and set an "equal weight" rating on the stock in a report on Thursday, May 29th. Finally, Citigroup decreased their price target on HP from $29.00 to $27.50 and set a "neutral" rating for the company in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, HP presently has an average rating of "Hold" and an average price target of $29.54.

Insiders Place Their Bets

In other news, insider Anneliese Olson sold 21,545 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total value of $613,817.05. Following the sale, the insider now directly owns 169 shares of the company's stock, valued at $4,814.81. The trade was a 99.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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.

About HP

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.