HP Inc. (NYSE:HPQ) Announces Quarterly Dividend of $0.28

HP Inc. (NYSE:HPQ - Get Free Report) declared a quarterly dividend on Tuesday, June 11th, RTT News reports. Stockholders of record on Wednesday, September 11th will be paid a dividend of 0.2756 per share by the computer maker on Wednesday, October 2nd. This represents a $1.10 annualized dividend and a dividend yield of 3.03%.

HP has raised its dividend payment by an average of 13.7% annually over the last three years. HP has a payout ratio of 29.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect HP to earn $3.71 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 29.6%.

HP Stock Performance

NYSE:HPQ traded up $0.16 during midday trading on Tuesday, reaching $36.34. 7,707,596 shares of the stock traded hands, compared to its average volume of 8,234,736. The stock has a market capitalization of $35.56 billion, a P/E ratio of 12.28, a PEG ratio of 2.32 and a beta of 1.11. The company has a fifty day moving average of $30.82 and a 200 day moving average of $30.00. HP has a 12 month low of $25.22 and a 12 month high of $39.52.

HP (NYSE:HPQ - Get Free Report) last issued its quarterly earnings data on Wednesday, May 29th. The computer maker reported $0.82 EPS for the quarter, beating the consensus estimate of $0.81 by $0.01. The firm had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.61 billion. HP had a net margin of 5.60% and a negative return on equity of 230.39%. The company's quarterly revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.80 earnings per share. On average, analysts predict that HP will post 3.45 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert R. Bennett sold 67,000 shares of the company's stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $30.01, for a total value of $2,010,670.00. Following the transaction, the director now owns 60,216 shares in the company, valued at approximately $1,807,082.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.41% of the company's stock.

Wall Street Analyst Weigh In

HPQ has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their target price on HP from $34.00 to $38.00 and gave the company an "overweight" rating in a research note on Thursday, May 30th. Bank of America boosted their price objective on shares of HP from $35.00 to $37.00 and gave the company a "buy" rating in a research report on Thursday, May 30th. Wells Fargo & Company raised their target price on shares of HP from $25.00 to $30.00 and gave the stock an "underweight" rating in a research report on Thursday, May 30th. UBS Group increased their price target on shares of HP from $31.00 to $34.00 and gave the stock a "neutral" rating in a research note on Thursday, May 30th. Finally, Citigroup lifted their price objective on HP from $35.00 to $37.00 and gave the company a "buy" rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $34.64.

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.