HP Inc. (HPQ) Declares Quarterly Dividend of $0.13
HP Inc. (NYSE:HPQ) announced a quarterly dividend on Tuesday, July 25th, RTT News reports. Investors of record on Wednesday, September 13th will be given a dividend of 0.1327 per share by the computer maker on Wednesday, October 4th. This represents a $0.53 annualized dividend and a dividend yield of 2.73%.
HP has decreased its dividend by an average of 3.6% per year over the last three years. HP has a dividend payout ratio of 32.5% meaning its dividend is sufficiently covered by earnings. Analysts expect HP to earn $1.71 per share next year, which means the company should continue to be able to cover its $0.53 annual dividend with an expected future payout ratio of 31.0%.
HP (NYSE:HPQ) traded down 1.03% during midday trading on Wednesday, hitting $19.21. 1,878,612 shares of the company traded hands. HP has a 12-month low of $13.55 and a 12-month high of $19.58. The company has a market cap of $32.34 billion, a PE ratio of 13.59 and a beta of 1.89. The stock has a 50 day moving average price of $17.99 and a 200-day moving average price of $17.43.
HP (NYSE:HPQ) last released its earnings results on Wednesday, May 24th. The computer maker reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. HP had a negative return on equity of 68.86% and a net margin of 4.94%. The company had revenue of $12.40 billion for the quarter, compared to analysts’ expectations of $11.93 billion. During the same quarter in the previous year, the business posted $0.41 EPS. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. Analysts expect that HP will post $1.64 EPS for the current year.
In related news, insider Ron Coughlin sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $18.95, for a total value of $189,500.00. Following the transaction, the insider now owns 51,745 shares in the company, valued at $980,567.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Margaret C. Whitman sold 295,936 shares of the firm’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $19.00, for a total value of $5,622,784.00. Following the completion of the transaction, the director now owns 766,825 shares in the company, valued at approximately $14,569,675. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,213,319 shares of company stock worth $22,226,676. 0.62% of the stock is owned by company insiders.
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Several brokerages recently commented on HPQ. UBS AG reissued a “buy” rating and issued a $20.00 price target (up previously from $18.00) on shares of HP in a research note on Monday, April 3rd. Bank of America Corporation boosted their price target on HP from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Thursday, May 25th. Royal Bank Of Canada raised HP from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $21.00 to $22.00 in a research note on Thursday, July 20th. BidaskClub raised HP from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Citigroup Inc. set a $20.00 price target on HP and gave the company a “buy” rating in a research note on Thursday, May 25th. Nine research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $19.89.
HP Company Profile
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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