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

HP Inc. (NYSE:HPQ) announced a quarterly dividend on Thursday, January 30th,RTT News reports. Investors 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 dividend on an annualized basis and a yield of 3.53%.

HP has increased its dividend payment by an average of 10.3% per year over the last three years. HP has a dividend payout ratio of 30.7% indicating that its dividend is sufficiently covered by earnings. 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 NYSE HPQ opened at $32.81 on Friday. The stock has a market capitalization of $30.76 billion, a P/E ratio of 11.67, a PEG ratio of 2.78 and a beta of 1.05. HP has a one year low of $27.42 and a one year high of $39.79. The firm’s 50 day simple moving average is $34.14 and its two-hundred day simple moving average is $35.20.

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HPQ. HSBC cut HP from a “buy” rating to a “hold” rating and dropped their target price for the company from $39.00 to $38.00 in a report on Friday, November 29th. TD Cowen increased their price objective on HP from $32.00 to $39.00 and gave the company a “hold” rating in a research note on Wednesday, November 27th. Barclays lifted their target price on shares of HP from $32.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 27th. Hsbc Global Res cut shares of HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Finally, 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 note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $36.23.

Insiders Place Their Bets

In related news, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $32.50, for a total transaction of $357,500.00. Following the sale, the insider now owns 6,277 shares of the company’s stock, valued at $204,002.50. The trade was a 63.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Alex Cho sold 10,298 shares of the company’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $34.32, for a total value of $353,427.36. Following the completion of the sale, the insider now owns 64,676 shares in the company, 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 worth $9,670,068 over the last three months. 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.