HP Inc. (HPQ) to Issue Quarterly Dividend of $0.29 on July 2nd

HP Inc. (NYSE:HPQ) announced a quarterly dividend on Wednesday, May 14th, RTT News reports. Stockholders of record on Wednesday, June 11th will be given a dividend of 0.2894 per share by the computer maker on Wednesday, July 2nd. This represents a $1.16 annualized dividend and a dividend yield of 4.60%. The ex-dividend date of this dividend is Wednesday, June 11th.

HP has a dividend payout ratio of 31.5% 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 Stock Performance

HPQ opened at $25.18 on Monday. The firm has a market cap of $23.65 billion, a price-to-earnings ratio of 8.96, a PEG ratio of 2.96 and a beta of 1.30. HP has a twelve month low of $21.21 and a twelve month high of $39.80. The firm’s 50-day simple moving average is $25.64 and its 200-day simple moving average is $30.19.

HP (NYSE:HPQ) last released its quarterly earnings results on Wednesday, May 28th. The computer maker reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). The business had revenue of $13.22 billion for the quarter, compared to the consensus estimate of $13.09 billion. HP had a negative return on equity of 253.39% and a net margin of 5.18%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.82 earnings per share. As a group, sell-side analysts anticipate that HP will post 3.56 EPS for the current fiscal year.

Insider Transactions at HP

In other HP news, insider Stephanie Liebman sold 15,646 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $29.00, for a total transaction of $453,734.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Anneliese Olson sold 21,545 shares of the company’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $28.49, for a total transaction of $613,817.05. Following the sale, the insider now directly owns 169 shares in the company, valued at $4,814.81. This trade represents a 99.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on HPQ. Citigroup decreased their price objective on HP from $29.00 to $27.50 and set a “neutral” rating on the stock in a research report on Thursday, May 29th. TD Cowen decreased their price target on HP from $38.00 to $28.00 and set a “hold” rating on the stock in a report on Thursday, May 29th. KGI Securities started coverage on shares of HP in a research note on Thursday, May 29th. They issued a “neutral” rating on the stock. Bank of America reduced their target price on shares of HP from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 28th. Finally, Morgan Stanley reduced their target price on shares of HP from $29.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $29.54.

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.