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

HP Inc. (NYSE:HPQ) declared a quarterly dividend on Thursday, January 30th, RTT News reports. Stockholders of record on Wednesday, March 12th will be given a dividend of 0.2894 per share by the computer maker on Wednesday, April 2nd. This represents a $1.16 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Wednesday, March 12th.

HP has increased its dividend payment by an average of 10.3% annually over the last three years and has raised its dividend every year for the last 15 years. HP has a payout ratio of 30.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 2.0 %

HP stock opened at $30.56 on Monday. The stock has a market cap of $28.80 billion, a PE ratio of 10.87, a P/E/G ratio of 2.96 and a beta of 1.09. The stock has a 50-day moving average price of $32.76 and a 200 day moving average price of $34.65. HP has a 52 week low of $27.42 and a 52 week high of $39.79.

HP (NYSE:HPQ) last posted its quarterly earnings results on Thursday, February 27th. The computer maker reported $0.74 EPS for the quarter, meeting the consensus estimate of $0.74. The company had revenue of $13.50 billion during the quarter, compared to analysts’ expectations of $13.35 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. On average, equities analysts predict that HP will post 3.56 EPS for the current year.

Insider Buying and Selling at HP

In other news, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the sale, the insider now directly owns 6,277 shares in the company, valued at approximately $204,002.50. The trade was a 63.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kristen M. Ludgate sold 74,356 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $34.43, for a total value of $2,560,077.08. Following the completion of the sale, the insider now owns 56,169 shares of the company’s stock, valued at $1,933,898.67. This trade represents a 56.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 125,643 shares of company stock valued at $4,319,565 in the last three months. Corporate insiders own 0.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. TD Cowen lowered their price target on HP from $39.00 to $38.00 and set a “hold” rating for the company in a report on Friday, February 28th. Wells Fargo & Company boosted their target price on HP from $30.00 to $35.00 and gave the stock an “underweight” rating in a report on Thursday, February 20th. Morgan Stanley decreased their target price on HP from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, February 28th. Sanford C. Bernstein boosted their target price on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Finally, Hsbc Global Res cut HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $36.14.

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.