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

HP Inc. (NYSE:HPQ - Get Free Report) announced a quarterly dividend on Wednesday, May 15th, RTT News reports. Investors of record on Wednesday, June 12th will be paid a dividend of 0.2756 per share by the computer maker on Saturday, July 13th. This represents a $1.10 annualized dividend and a dividend yield of 3.52%.

HP has increased its dividend by an average of 13.7% annually over the last three years and has increased its dividend annually for the last 14 consecutive years. HP has a dividend payout ratio of 29.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Performance

Shares of NYSE:HPQ traded up $0.60 during midday trading on Wednesday, hitting $31.36. 6,479,539 shares of the stock were exchanged, compared to its average volume of 7,698,585. HP has a 52-week low of $25.22 and a 52-week high of $33.90. The business's fifty day simple moving average is $29.28 and its two-hundred day simple moving average is $29.09. The company has a market capitalization of $30.76 billion, a PE ratio of 9.15, a P/E/G ratio of 2.50 and a beta of 1.06.

HP (NYSE:HPQ - Get Free Report) last announced its quarterly earnings data on Wednesday, February 28th. The computer maker reported $0.81 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.81. HP had a negative return on equity of 181.02% and a net margin of 6.45%. The business had revenue of $13.19 billion during the quarter, compared to analyst estimates of $13.56 billion. During the same period last year, the company earned $0.75 earnings per share. HP's quarterly revenue was down 4.4% compared to the same quarter last year. As a group, equities analysts anticipate that HP will post 3.42 EPS for the current year.

Insiders Place Their Bets

In other HP news, insider Kristen M. Ludgate sold 41,015 shares of the firm's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total transaction of $1,199,278.60. Following the completion of the transaction, the insider now owns 56,169 shares in the company, valued at $1,642,381.56. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Kristen M. Ludgate sold 41,015 shares of HP 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 owns 56,169 shares in the company, valued at $1,642,381.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephanie Liebman sold 8,708 shares of HP 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 disclosure for this sale can be found here. Insiders sold a total of 116,723 shares of company stock worth $3,479,287 over the last quarter. Company insiders own 0.41% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on HPQ. StockNews.com lowered HP from a "strong-buy" rating to a "buy" rating in a report on Friday, March 1st. Barclays raised their price target on HP from $22.00 to $24.00 and gave the company an "underweight" rating in a research report on Thursday, February 29th. Finally, HSBC raised HP from a "hold" rating to a "buy" rating and raised their price target for the company from $30.00 to $33.00 in a research report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $33.11.

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.

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