HP Inc. (NYSE:HPQ) declared a quarterly dividend on Wednesday, May 15th, RTT News reports. Investors of record on Wednesday, June 12th will be given a dividend of 0.1602 per share by the computer maker on Wednesday, July 3rd. This represents a $0.64 annualized dividend and a dividend yield of 3.50%.
HP has decreased its dividend payment by an average of 6.1% annually over the last three years and has increased its dividend annually for the last 2 consecutive years. HP has a dividend payout ratio of 31.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect HP to earn $2.21 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 29.0%.
NYSE HPQ opened at $18.30 on Thursday. HP has a twelve month low of $18.06 and a twelve month high of $27.08. The stock has a market cap of $28.72 billion, a P/E ratio of 9.06, a price-to-earnings-growth ratio of 3.02 and a beta of 1.38.
Several equities analysts recently weighed in on the company. Bank of America cut HP from a “buy” rating to an “underperform” rating and set a $19.00 price objective for the company. in a research report on Thursday, February 28th. BMO Capital Markets reissued a “hold” rating and set a $22.00 price objective on shares of HP in a research report on Wednesday, February 27th. Zacks Investment Research raised HP from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. ValuEngine raised HP from a “sell” rating to a “hold” rating in a research report on Thursday, March 21st. Finally, Credit Suisse Group assumed coverage on HP in a research note on Thursday, April 11th. They set a “neutral” rating and a $21.00 price target on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $25.71.
In related news, CEO Dion J. Weisler sold 36,799 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $20.00, for a total transaction of $735,980.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.28% of the company’s stock.
TRADEMARK VIOLATION WARNING: This article was originally published by WKRB News and is the sole property of of WKRB News. If you are reading this article on another website, it was stolen and republished in violation of United States & international copyright law. The legal version of this article can be read at https://www.wkrb13.com/2019/05/16/hp-inc-hpq-plans-quarterly-dividend-of-0-16-2.html.
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.
Featured Story: What is the Rule of 72?
Receive News & Ratings for HP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP and related companies with MarketBeat.com's FREE daily email newsletter.