HP Inc. (NYSE:HPQ) announced a quarterly dividend on Thursday, January 13th, RTT News reports. Stockholders of record on Wednesday, March 9th will be paid a dividend of 0.25 per share by the computer maker on Wednesday, April 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.58%.
HP has raised its dividend payment by 43.8% over the last three years and has increased its dividend annually for the last 13 consecutive years. HP has a payout ratio of 22.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect HP to earn $4.42 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 22.6%.
Shares of NYSE:HPQ traded down $0.22 during midday trading on Thursday, reaching $38.77. The company’s stock had a trading volume of 445,186 shares, compared to its average volume of 8,477,426. HP has a fifty-two week low of $24.07 and a fifty-two week high of $39.65. The company has a market capitalization of $41.98 billion, a P/E ratio of 7.14, a P/E/G ratio of 3.67 and a beta of 1.00. The business’s fifty day simple moving average is $35.60 and its 200-day simple moving average is $31.23.
In other HP news, insider Harvey Anderson sold 17,166 shares of the company’s stock in a transaction on Friday, December 3rd. The stock was sold at an average price of $38.10, for a total value of $654,024.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Christoph Schell sold 116,389 shares of the company’s stock in a transaction on Monday, November 8th. The shares were sold at an average price of $32.08, for a total value of $3,733,759.12. The disclosure for this sale can be found here. Insiders have sold a total of 357,989 shares of company stock worth $12,258,879 over the last three months. 0.19% of the stock is owned by insiders.
A hedge fund recently raised its stake in HP stock. Ironwood Wealth Management LLC. grew its stake in shares of HP Inc. (NYSE:HPQ) by 117.9% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 2,674 shares of the computer maker’s stock after acquiring an additional 1,447 shares during the quarter. Ironwood Wealth Management LLC.’s holdings in HP were worth $81,000 as of its most recent SEC filing. Institutional investors own 82.28% of the company’s stock.
A number of brokerages recently commented on HPQ. Deutsche Bank Aktiengesellschaft lifted their price objective on HP from $32.00 to $36.00 and gave the stock a “hold” rating in a research report on Wednesday, November 24th. Credit Suisse Group lifted their price objective on HP from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, October 21st. Sanford C. Bernstein lifted their price objective on HP from $32.00 to $40.00 in a research report on Tuesday. Zacks Investment Research lowered HP from a “buy” rating to a “hold” rating and set a $33.00 price objective for the company. in a research report on Friday, November 5th. Finally, TheStreet upgraded HP from a “c+” rating to a “b-” rating in a research report on Tuesday, November 2nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, HP has a consensus rating of “Hold” and an average price target of $34.43.
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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