HP Inc. (NYSE:HPQ) to Issue $0.13 Quarterly Dividend
HP Inc. (NYSE:HPQ) declared a quarterly dividend on Tuesday, July 25th, RTT News reports. Shareholders of record on Wednesday, September 13th will be paid a dividend of 0.1327 per share by the computer maker on Wednesday, October 4th. This represents a $0.53 dividend on an annualized basis and a yield of 2.73%.
HP has decreased its dividend by an average of 3.6% annually over the last three years. HP has a payout ratio of 32.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect HP to earn $1.73 per share next year, which means the company should continue to be able to cover its $0.53 annual dividend with an expected future payout ratio of 30.6%.
HP (NYSE HPQ) traded up 0.88% during mid-day trading on Tuesday, hitting $19.41. The stock had a trading volume of 9,266,648 shares. HP has a 12-month low of $13.55 and a 12-month high of $19.58. The stock has a 50-day moving average price of $17.99 and a 200 day moving average price of $17.43. The firm has a market cap of $32.67 billion, a P/E ratio of 13.73 and a beta of 1.89.
HP (NYSE:HPQ) last posted its earnings results on Wednesday, May 24th. The computer maker reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The firm had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $11.93 billion. HP had a net margin of 4.94% and a negative return on equity of 68.86%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 earnings per share. Equities analysts anticipate that HP will post $1.64 EPS for the current fiscal year.
In other news, Director Margaret C. Whitman sold 295,952 shares of HP stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $18.02, for a total value of $5,333,055.04. Following the completion of the transaction, the director now owns 618,865 shares in the company, valued at $11,151,947.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Margaret C. Whitman sold 295,936 shares of HP stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $19.00, for a total transaction of $5,622,784.00. Following the completion of the transaction, the director now owns 766,825 shares of the company’s stock, valued at approximately $14,569,675. The disclosure for this sale can be found here. Insiders have sold 1,213,319 shares of company stock valued at $22,226,676 in the last 90 days. 0.62% of the stock is currently owned by corporate insiders.
Several equities research analysts recently weighed in on HPQ shares. Barclays PLC upgraded shares of HP from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $17.00 to $22.00 in a research note on Wednesday, April 19th. Citigroup Inc. raised shares of HP from a “neutral” rating to a “buy” rating and increased their price target for the stock from $17.54 to $20.00 in a research report on Wednesday, April 12th. Stifel Nicolaus reissued a “hold” rating and issued a $14.00 price target on shares of HP in a research report on Friday, May 26th. Zacks Investment Research lowered shares of HP from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Finally, Jefferies Group LLC raised their price objective on shares of HP from $18.00 to $18.75 and gave the stock a “hold” rating in a report on Tuesday, July 18th. Nine equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $19.89.
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
Receive News & Ratings for HP Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HP Inc. and related companies with MarketBeat.com's FREE daily email newsletter.