HP Inc. (HPQ) to Issue Quarterly Dividend of $0.28 on July 13th

HP Inc. (NYSE:HPQGet Free Report) declared a quarterly dividend on Wednesday, May 15th, RTT News reports. Shareholders of record on Wednesday, June 12th will be paid 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 3.02%. 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 dividend payout ratio of 29.5% meaning its dividend is sufficiently covered by earnings. 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 Up 0.7 %

Shares of NYSE:HPQ opened at $36.45 on Monday. HP has a twelve month low of $25.22 and a twelve month high of $39.52. The stock’s 50 day moving average is $30.57 and its 200-day moving average is $29.89. The firm has a market capitalization of $35.67 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 2.32 and a beta of 1.11.

HP (NYSE:HPQGet Free Report) last issued its earnings results on Wednesday, May 29th. The computer maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.01. HP had a negative return on equity of 230.39% and a net margin of 5.60%. The company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.61 billion. During the same period in the prior year, the firm earned $0.80 earnings per share. HP’s revenue for the quarter was down .8% on a year-over-year basis. Equities research analysts anticipate that HP will post 3.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HPQ has been the topic of a number of research reports. Morgan Stanley upped their target price on HP from $36.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. StockNews.com downgraded HP from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Barclays upped their price target on HP from $30.00 to $33.00 and gave the stock an “equal weight” rating in a report on Thursday, May 30th. TD Cowen upped their price target on HP from $30.00 to $32.00 and gave the stock a “hold” rating in a report on Thursday, May 30th. Finally, Citigroup upped their price target on HP from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.64.

View Our Latest Analysis on HP

Insider Buying and Selling

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

About HP

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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.

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Dividend History for HP (NYSE:HPQ)

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