HP Inc. (NYSE:HPQ) announced a quarterly dividend on Tuesday, November 13th, RTT News reports. Shareholders of record on Thursday, December 13th will be given a dividend of 0.1602 per share by the computer maker on Wednesday, January 2nd. This represents a $0.64 annualized dividend and a yield of 2.67%. The ex-dividend date is Wednesday, December 12th. This is an increase from HP’s previous quarterly dividend of $0.14.
HP has decreased its dividend payment by an average of 4.6% per year over the last three years. HP has a payout ratio of 31.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect HP to earn $2.29 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 27.9%.
HP stock opened at $24.02 on Friday. The stock has a market capitalization of $36.78 billion, a price-to-earnings ratio of 11.89, a P/E/G ratio of 2.25 and a beta of 1.45. HP has a 1 year low of $19.31 and a 1 year high of $27.08.
Several equities research analysts have recently weighed in on HPQ shares. Citigroup upped their price target on shares of HP to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 24th. Maxim Group upped their price target on shares of HP from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, August 24th. Morgan Stanley upped their price target on shares of HP from $28.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Friday, August 24th. Wells Fargo & Co upped their price target on shares of HP from $21.00 to $26.00 and gave the stock a “market perform” rating in a research report on Friday, August 24th. Finally, Deutsche Bank upped their price target on shares of HP from $27.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 24th. Eleven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. HP currently has an average rating of “Hold” and a consensus price target of $27.25.
In related news, insider Kim M. Rivera sold 46,072 shares of the stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $24.14, for a total transaction of $1,112,178.08. Following the completion of the sale, the insider now owns 15,241 shares of the company’s stock, valued at $367,917.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Alex Cho sold 3,879 shares of the stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $23.68, for a total transaction of $91,854.72. The disclosure for this sale can be found here. Insiders sold a total of 829,934 shares of company stock valued at $21,227,333 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.
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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