HP Inc. (NYSE:HPQ – Get Free Report) announced a quarterly dividend on Thursday, January 30th,RTT News reports. Shareholders 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% annually over the last three years. HP has a dividend payout ratio of 30.7% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Up 0.6 %
NYSE:HPQ traded up $0.20 on Thursday, reaching $32.81. 3,611,325 shares of the company’s stock traded hands, compared to its average volume of 6,103,065. HP has a 12 month low of $27.42 and a 12 month high of $39.79. The stock has a 50-day simple moving average of $34.14 and a 200-day simple moving average of $35.20. The firm has a market cap of $30.76 billion, a PE ratio of 11.67, a P/E/G ratio of 2.83 and a beta of 1.05.
Insider Activity at HP
In related news, insider Stephanie Liebman sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $32.50, for a total value of $357,500.00. Following the completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alex Cho sold 10,298 shares of the business’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 transaction of $353,427.36. Following the completion of the transaction, the insider now directly owns 64,676 shares of the company’s stock, valued at $2,219,680.32. This trade represents a 13.74 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 273,035 shares of company stock worth $9,670,068. Company insiders own 0.41% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have recently issued reports on HPQ. Sanford C. Bernstein lifted their target price on HP from $32.00 to $34.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. JPMorgan Chase & Co. reduced their target price on HP from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Wednesday, November 20th. HSBC cut HP from a “buy” rating to a “hold” rating and reduced their target price for the stock from $39.00 to $38.00 in a report on Friday, November 29th. Hsbc Global Res lowered HP from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 29th. Finally, TD Cowen lifted their price target on HP from $32.00 to $39.00 and gave the stock a “hold” rating in a research report on Wednesday, November 27th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $36.23.
Read Our Latest Analysis on HPQ
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.
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