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

HP Inc. (NYSE:HPQ) declared a quarterly dividend on Thursday, January 30th,RTT News reports. Shareholders of record on Wednesday, March 12th will be paid a dividend of 0.2894 per share by the computer maker on Wednesday, April 2nd. This represents a $1.16 annualized dividend and a yield of 3.53%.

HP has raised its dividend payment by an average of 10.3% annually over the last three years. HP has a dividend payout ratio of 30.7% meaning 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 Price Performance

Shares of HPQ stock opened at $32.81 on Friday. The firm has a 50-day moving average of $34.14 and a 200-day moving average of $35.20. HP has a one year low of $27.42 and a one year high of $39.79. The company has a market cap of $30.76 billion, a P/E ratio of 11.67, a P/E/G ratio of 2.78 and a beta of 1.05.

HP (NYSE:HPQ) last issued its quarterly earnings data on Tuesday, November 26th. The computer maker reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. HP had a net margin of 5.18% and a negative return on equity of 253.39%. The business had revenue of $14.06 billion during the quarter, compared to the consensus estimate of $13.99 billion. During the same period in the prior year, the firm posted $0.90 EPS. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, research analysts expect that HP will post 3.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HPQ has been the subject of a number of recent analyst reports. Citigroup reduced their price objective on HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research note on Wednesday, November 27th. Barclays increased their price target on shares of HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. lowered their price objective on shares of HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 20th. HSBC downgraded shares of HP from a “buy” rating to a “hold” rating and reduced their target price for the company from $39.00 to $38.00 in a research report on Friday, November 29th. Finally, Hsbc Global Res cut shares of HP from a “strong-buy” rating to a “hold” rating in a report on Friday, November 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $36.23.

Insider Buying and Selling at HP

In related news, insider Alex Cho sold 10,298 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $34.32, for a total transaction of $353,427.36. Following the completion of the transaction, the insider now owns 64,676 shares of the company’s stock, valued at approximately $2,219,680.32. The trade was a 13.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephanie Liebman sold 11,000 shares of the company’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 transaction of $357,500.00. Following the sale, the insider now directly owns 6,277 shares in the company, valued at $204,002.50. This trade represents a 63.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 273,035 shares of company stock valued at $9,670,068 in the last 90 days. 0.41% of the stock is currently owned by company insiders.

HP Company Profile

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.