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

HP Inc. (NYSE:HPQ) declared a quarterly dividend on Wednesday, May 15th, RTT News reports. Shareholders of record on Wednesday, June 12th will be given a dividend of 0.2756 per share by the computer maker on Saturday, July 13th. This represents a $1.10 annualized dividend and a yield of 3.05%. The ex-dividend date is Wednesday, June 12th.

HP has increased its dividend payment by an average of 13.7% annually over the last three years. HP has a payout ratio of 29.5% indicating that its dividend is sufficiently covered by earnings. Research 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 Down 0.7 %

NYSE HPQ opened at $36.18 on Tuesday. HP has a 52 week low of $25.22 and a 52 week high of $39.52. The stock has a market capitalization of $35.40 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 2.32 and a beta of 1.11. The firm has a 50 day moving average of $30.69 and a two-hundred day moving average of $29.94.

HP (NYSE:HPQ) last issued its earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $12.61 billion. During the same quarter in the prior year, the business posted $0.80 EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities research analysts expect that HP will post 3.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on HPQ shares. Wells Fargo & Company upped their target price on shares of HP from $25.00 to $30.00 and gave the company an “underweight” rating in a report on Thursday, May 30th. Citigroup upped their price target on shares of HP from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, May 30th. UBS Group upped their price objective on shares of HP from $31.00 to $34.00 and gave the stock a “neutral” rating in a research 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 stock a “buy” rating in a research report on Thursday, May 30th. Finally, JPMorgan Chase & Co. increased their price target on shares of HP from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, HP has a consensus rating of “Moderate Buy” and a consensus target price of $34.64.

Insider Activity at HP

In related news, Director Robert R. Bennett sold 67,000 shares of the stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $30.01, for a total value of $2,010,670.00. Following the sale, the director now directly owns 60,216 shares of the company’s stock, valued at approximately $1,807,082.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.41% of the stock is owned by corporate 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.