HP Inc (NYSE:HPQ) announced a quarterly dividend on Tuesday, November 14th, RTT News reports. Stockholders of record on Wednesday, December 13th will be paid a dividend of 0.1393 per share by the computer maker on Wednesday, January 3rd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Tuesday, December 12th. This is a positive change from HP’s previous quarterly dividend of $0.13.
HP has decreased its dividend by an average of 3.6% annually over the last three years. HP has a payout ratio of 31.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect HP to earn $1.90 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 29.5%.
Shares of HP (HPQ) opened at $21.02 on Thursday. The stock has a market cap of $35,192.25, a PE ratio of 12.77, a PEG ratio of 2.23 and a beta of 1.81. The company has a debt-to-equity ratio of -1.98, a current ratio of 1.00 and a quick ratio of 0.74. HP has a 12 month low of $14.40 and a 12 month high of $22.68.
HP (NYSE:HPQ) last issued its earnings results on Tuesday, November 21st. The computer maker reported $0.44 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.44. HP had a net margin of 4.85% and a negative return on equity of 70.25%. The business had revenue of $13.93 billion for the quarter, compared to analyst estimates of $13.36 billion. During the same quarter in the prior year, the business posted $0.36 EPS. The company’s revenue for the quarter was up 11.3% on a year-over-year basis. sell-side analysts forecast that HP will post 1.79 earnings per share for the current year.
In other news, CEO Dion J. Weisler sold 95,521 shares of the stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $19.97, for a total value of $1,907,554.37. Following the completion of the transaction, the chief executive officer now directly owns 435,018 shares in the company, valued at $8,687,309.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Marie Myers sold 10,025 shares of the stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $19.75, for a total transaction of $197,993.75. Following the completion of the transaction, the insider now owns 10,025 shares of the company’s stock, valued at $197,993.75. The disclosure for this sale can be found here. Insiders sold 2,139,153 shares of company stock valued at $44,020,119 over the last quarter. Insiders own 0.62% of the company’s stock.
HPQ has been the subject of a number of recent research reports. Stifel Nicolaus reaffirmed a “hold” rating and set a $14.00 price objective on shares of HP in a research report on Wednesday, August 16th. Loop Capital boosted their price objective on shares of HP from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, October 13th. Zacks Investment Research downgraded shares of HP from a “buy” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets reaffirmed a “hold” rating and set a $20.00 price objective on shares of HP in a research report on Thursday, August 24th. Finally, Deutsche Bank reaffirmed a “buy” rating and set a $25.00 price objective on shares of HP in a research report on Wednesday, November 22nd. Twelve equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $21.31.
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HP Company Profile
HP Inc is a provider of products, technologies, software, solutions and services to individual consumers, small- and medium-sized businesses, and enterprises, including customers in the government, health and education sectors. The Company provides personal computing and other access devices, imaging and printing products, and related technologies, solutions and services.
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