Panagora Asset Management Inc. Has $1.07 Million Holdings in HP Inc. (NYSE:HPQ)

Panagora Asset Management Inc. lessened its holdings in HP Inc. (NYSE:HPQ) by 2.1% during the fourth quarter, HoldingsChannel reports. The fund owned 35,452 shares of the computer maker’s stock after selling 744 shares during the quarter. Panagora Asset Management Inc.’s holdings in HP were worth $1,067,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rosenberg Matthew Hamilton raised its holdings in shares of HP by 84.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 866 shares of the computer maker’s stock worth $26,000 after acquiring an additional 397 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in HP in the 4th quarter valued at about $28,000. Janiczek Wealth Management LLC increased its stake in HP by 116.7% in the 4th quarter. Janiczek Wealth Management LLC now owns 1,051 shares of the computer maker’s stock valued at $32,000 after buying an additional 566 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in HP in the 4th quarter valued at about $34,000. Finally, Salem Investment Counselors Inc. increased its stake in HP by 47.9% in the 4th quarter. Salem Investment Counselors Inc. now owns 1,174 shares of the computer maker’s stock valued at $36,000 after buying an additional 380 shares during the last quarter. Institutional investors and hedge funds own 77.53% of the company’s stock.

HP Trading Up 1.0 %

HPQ stock opened at $33.02 on Thursday. The firm’s 50-day moving average price is $29.43 and its two-hundred day moving average price is $29.29. HP Inc. has a 12-month low of $25.22 and a 12-month high of $33.90. The stock has a market capitalization of $32.38 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 2.45 and a beta of 1.06.

HP (NYSE:HPQ) last announced its earnings results on Wednesday, February 28th. The computer maker reported $0.81 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.81. The firm had revenue of $13.19 billion for the quarter, compared to analyst estimates of $13.56 billion. HP had a net margin of 6.45% and a negative return on equity of 181.02%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 EPS. Equities analysts predict that HP Inc. will post 3.42 EPS for the current year.

HP Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, July 13th. Investors of record on Wednesday, June 12th will be paid a dividend of $0.2756 per share. This represents a $1.10 annualized dividend and a yield of 3.34%. The ex-dividend date of this dividend is Wednesday, June 12th. HP’s payout ratio is currently 32.16%.

Wall Street Analysts Forecast Growth

HPQ has been the subject of several analyst reports. StockNews.com lowered shares of HP from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. Bank of America raised their price objective on shares of HP from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. Barclays upgraded shares of HP from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $24.00 to $30.00 in a research report on Tuesday. Finally, HSBC upgraded shares of HP from a “hold” rating to a “buy” rating and raised their price objective for the company from $30.00 to $33.00 in a research report on Wednesday, February 14th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

Insider Buying and Selling

In related news, Director Robert R. Bennett sold 67,000 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the sale, the director now owns 60,216 shares of the company’s stock, valued at $1,807,082.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other HP news, insider Kristen M. Ludgate sold 41,015 shares of HP stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $29.24, for a total value of $1,199,278.60. Following the completion of the transaction, the insider now directly owns 56,169 shares of the company’s stock, valued at $1,642,381.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert R. Bennett sold 67,000 shares of HP stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $30.01, for a total transaction of $2,010,670.00. Following the completion of the transaction, the director now directly owns 60,216 shares of the company’s stock, valued at $1,807,082.16. The disclosure for this sale can be found here. Insiders have sold 116,723 shares of company stock valued at $3,479,287 over the last quarter. Corporate insiders own 0.41% of the company’s stock.

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.