Wedge Capital Management L L P NC Has $3.59 Million Stock Position in Hewlett Packard Enterprise (NYSE:HPE)

Wedge Capital Management L L P NC reduced its holdings in shares of Hewlett Packard Enterprise (NYSE:HPE) by 5.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 211,593 shares of the technology company’s stock after selling 13,181 shares during the period. Wedge Capital Management L L P NC’s holdings in Hewlett Packard Enterprise were worth $3,593,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Authentikos Wealth Advisory LLC purchased a new position in Hewlett Packard Enterprise during the third quarter worth about $31,000. Ritter Daniher Financial Advisory LLC DE purchased a new position in Hewlett Packard Enterprise during the third quarter worth about $33,000. Salem Investment Counselors Inc. boosted its holdings in Hewlett Packard Enterprise by 180.1% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,961 shares of the technology company’s stock worth $33,000 after purchasing an additional 1,261 shares during the last quarter. ORG Partners LLC boosted its holdings in Hewlett Packard Enterprise by 111.4% during the fourth quarter. ORG Partners LLC now owns 2,615 shares of the technology company’s stock worth $44,000 after purchasing an additional 1,378 shares during the last quarter. Finally, NBC Securities Inc. purchased a new position in Hewlett Packard Enterprise during the third quarter worth about $52,000. 80.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HPE. Stifel Nicolaus cut their price target on shares of Hewlett Packard Enterprise from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, March 1st. StockNews.com upgraded shares of Hewlett Packard Enterprise from a “hold” rating to a “buy” rating in a report on Friday, April 19th. Sanford C. Bernstein lowered shares of Hewlett Packard Enterprise from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $20.00 to $17.00 in a research report on Tuesday, January 16th. Barclays lowered their price objective on shares of Hewlett Packard Enterprise from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Friday, March 1st. Finally, Morgan Stanley lifted their price objective on shares of Hewlett Packard Enterprise from $16.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Monday, April 15th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.91.

Hewlett Packard Enterprise Stock Performance

NYSE HPE opened at $16.93 on Thursday. The company’s 50 day moving average is $16.96 and its 200-day moving average is $16.40. Hewlett Packard Enterprise has a 12-month low of $13.65 and a 12-month high of $20.07. The company has a quick ratio of 0.63, a current ratio of 0.89 and a debt-to-equity ratio of 0.37. The firm has a market cap of $22.01 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 3.11 and a beta of 1.21.

Hewlett Packard Enterprise (NYSE:HPE) last posted its quarterly earnings results on Thursday, February 29th. The technology company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.03. Hewlett Packard Enterprise had a net margin of 6.81% and a return on equity of 9.12%. The company had revenue of $6.76 billion for the quarter, compared to analyst estimates of $7.09 billion. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The company’s quarterly revenue was down 13.5% compared to the same quarter last year. Sell-side analysts predict that Hewlett Packard Enterprise will post 1.4 earnings per share for the current year.

Hewlett Packard Enterprise Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Friday, March 15th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Thursday, March 14th. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is currently 35.86%.

Hewlett Packard Enterprise Company Profile

Hewlett Packard Enterprise Company provides solutions that allow customers to capture, analyze, and act upon data seamlessly in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It operates in six segments: Compute, HPC & AI, Storage, Intelligent Edge, Financial Services, and Corporate Investments and Other.