HP Inc. (NYSE:HPQ) declared a quarterly dividend on Wednesday, June 26th, Zacks reports. Stockholders of record on Wednesday, September 11th will be given a dividend of 0.16 per share by the computer maker on Wednesday, October 2nd. This represents a $0.64 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Tuesday, September 10th.
HP has decreased its dividend payment by an average of 6.1% per year over the last three years and has raised its dividend every year for the last 2 years. HP has a payout ratio of 31.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect HP to earn $2.24 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 28.6%.
Shares of NYSE:HPQ traded up $0.01 during midday trading on Friday, hitting $21.39. 7,724,585 shares of the stock were exchanged, compared to its average volume of 7,706,719. The firm has a 50 day simple moving average of $20.44. HP has a twelve month low of $18.06 and a twelve month high of $27.08. The company has a market capitalization of $32.20 billion, a PE ratio of 10.59, a P/E/G ratio of 3.22 and a beta of 1.38.
A number of brokerages have recently issued reports on HPQ. Zacks Investment Research cut Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a report on Tuesday, April 23rd. ValuEngine upgraded Zogenix from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. Credit Suisse Group boosted their target price on Delta Air Lines from $37.00 to $68.00 and gave the stock an “outperform” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of in a report on Tuesday, June 25th. Finally, Wolfe Research cut HP from an “outperform” rating to a “peer perform” rating and decreased their price target for the stock from $25.00 to $21.00 in a report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $24.43.
In other HP news, Director Shumeet Banerji sold 28,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $20.00, for a total value of $560,000.00. Following the transaction, the director now directly owns 31,311 shares of the company’s stock, valued at approximately $626,220. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kim M. Rivera sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 19th. The shares were sold at an average price of $20.53, for a total value of $410,600.00. Following the sale, the insider now directly owns 105,899 shares in the company, valued at $2,174,106.47. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 213,635 shares of company stock worth $4,423,266. 0.25% of the stock is currently owned by corporate insiders.
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.
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