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

HP Inc. (NYSE:HPQ) announced a quarterly dividend on Tuesday, June 10th, RTT News reports. Stockholders of record on Wednesday, September 10th will be paid a dividend of 0.2894 per share by the computer maker on Wednesday, October 1st. This represents a $1.16 annualized dividend and a dividend yield of 4.61%.

HP has a payout ratio of 31.5% meaning 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 Trading Down 0.7%

Shares of HPQ traded down $0.19 during mid-day trading on Wednesday, hitting $25.09. The company’s stock had a trading volume of 442,602 shares, compared to its average volume of 7,842,775. The company’s 50-day moving average is $25.62 and its 200-day moving average is $30.07. HP has a 52-week low of $21.21 and a 52-week high of $39.80. The firm has a market capitalization of $23.56 billion, a price-to-earnings ratio of 8.95, a PEG ratio of 2.96 and a beta of 1.30.

HP (NYSE:HPQ) last posted its quarterly earnings data on Wednesday, May 28th. The computer maker reported $0.71 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.09). The firm 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 company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 EPS. As a group, sell-side analysts predict that HP will post 3.56 earnings per share for the current fiscal year.

Insider Transactions at HP

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

Analysts Set New Price Targets

Several research firms recently commented on HPQ. Loop Capital dropped their price target on shares of HP from $35.00 to $30.00 and set a “hold” rating on the stock in a research report on Tuesday, March 4th. Bank of America dropped their price target on shares of HP from $35.00 to $33.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 28th. KGI Securities started coverage on shares of HP in a research report on Thursday, May 29th. They set a “neutral” rating on the stock. Wall Street Zen raised shares of HP from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Finally, Morgan Stanley decreased their price objective on shares of HP from $29.00 to $26.00 and set an “equal weight” rating on the stock in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $29.54.

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.