HP Inc. Raises Quarterly Dividend by 28.2%
HP Inc. (HPQ) raised its quarterly dividend by 28.2% to $0.25 per share. Shares of the American multinational information technology company have gained 52% over the past year.
The dividend is payable on January 5, 2022, to shareholders on record as of December 8. HPQ’s annual dividend of $1 per share now reflects a dividend yield of 3.2%.
Recently, Loop Capital analyst Ananda Baruah increased the firm’s price target on HP Inc. to $50 (60.2% upside potential) from $40, and reiterated a Buy rating.
Baruah favors the stocks based on his expectations that the company will generate strong revenue growth in 2022, and attractive kickers of increased dividend payout buybacks.
Overall, the stock has a Hold consensus rating based on 4 Holds and 2 Buys. At the time of writing, The average HP price target was $33.13, which implies 6.2% upside potential from current levels.
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