HP Inc. (NYSE:HPQ) Plans $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 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 yield of 3.56%. The ex-dividend date is Wednesday, March 12th.

HP has increased its dividend by an average of 10.3% per year over the last three years. HP has a 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 Stock Down 0.9 %

NYSE:HPQ opened at $32.51 on Friday. The company’s 50 day moving average is $34.03 and its 200-day moving average is $35.18. The firm has a market cap of $30.48 billion, a price-to-earnings ratio of 11.57, a P/E/G ratio of 2.78 and a beta of 1.05. HP has a 12 month low of $27.42 and a 12 month high of $39.79.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on HPQ shares. Sanford C. Bernstein upped their price objective on shares of HP from $32.00 to $34.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. reduced their price objective on shares of HP from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Wednesday, November 20th. Citigroup dropped their price target on shares of HP from $37.00 to $36.50 and set a “neutral” rating for the company in a research report on Wednesday, November 27th. Barclays upped their price objective on HP from $32.00 to $35.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Finally, TD Cowen raised their target price on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $36.23.

Insider Activity

In other news, CEO Enrique Lores sold 137,094 shares of HP stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $36.45, for a total value of $4,997,076.30. Following the sale, the chief executive officer now directly owns 89,272 shares in the company, valued at $3,253,964.40. This trade represents a 60.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alex Cho sold 10,298 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $34.32, for a total transaction of $353,427.36. Following the transaction, the insider now owns 64,676 shares of the company’s stock, valued at $2,219,680.32. The trade was a 13.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 273,035 shares of company stock valued at $9,670,068 in the last quarter. Company insiders own 0.41% of the company’s stock.

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.