Abich Financial Wealth Management LLC Acquires 1,310 Shares of Hewlett Packard Enterprise (NYSE:HPE)

Abich Financial Wealth Management LLC raised its holdings in Hewlett Packard Enterprise (NYSE:HPE) by 15.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,539 shares of the technology company’s stock after buying an additional 1,310 shares during the period. Hewlett Packard Enterprise comprises about 0.4% of Abich Financial Wealth Management LLC’s holdings, making the stock its 25th largest position. Abich Financial Wealth Management LLC’s holdings in Hewlett Packard Enterprise were worth $195,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its position in Hewlett Packard Enterprise by 23.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 86,314 shares of the technology company’s stock valued at $1,530,000 after acquiring an additional 16,374 shares in the last quarter. State of Michigan Retirement System lifted its holdings in shares of Hewlett Packard Enterprise by 1.0% in the first quarter. State of Michigan Retirement System now owns 495,581 shares of the technology company’s stock valued at $8,787,000 after purchasing an additional 5,000 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Hewlett Packard Enterprise by 5.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,855,377 shares of the technology company’s stock worth $68,356,000 after buying an additional 196,112 shares in the last quarter. Abundance Wealth Counselors raised its position in Hewlett Packard Enterprise by 10.4% in the 1st quarter. Abundance Wealth Counselors now owns 28,920 shares of the technology company’s stock valued at $513,000 after buying an additional 2,715 shares during the last quarter. Finally, HB Wealth Management LLC lifted its stake in Hewlett Packard Enterprise by 34.9% during the 1st quarter. HB Wealth Management LLC now owns 94,781 shares of the technology company’s stock valued at $1,680,000 after acquiring an additional 24,504 shares in the last quarter. 80.78% of the stock is currently owned by institutional investors and hedge funds.

Hewlett Packard Enterprise Price Performance

Shares of HPE stock traded up $0.16 on Tuesday, reaching $19.89. The company’s stock had a trading volume of 598,595 shares, compared to its average volume of 15,477,795. The stock’s 50 day simple moving average is $19.29 and its 200-day simple moving average is $19.08. Hewlett Packard Enterprise has a 12-month low of $14.47 and a 12-month high of $22.82. The company has a market capitalization of $25.85 billion, a P/E ratio of 14.40, a PEG ratio of 3.79 and a beta of 1.19. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 0.36.

Hewlett Packard Enterprise (NYSE:HPE) last posted its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03. Hewlett Packard Enterprise had a net margin of 6.39% and a return on equity of 8.94%. The company had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.67 billion. During the same period in the prior year, the business earned $0.35 earnings per share. Hewlett Packard Enterprise’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, equities analysts predict that Hewlett Packard Enterprise will post 1.66 earnings per share for the current fiscal year.

Hewlett Packard Enterprise Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date was Thursday, September 19th. Hewlett Packard Enterprise’s dividend payout ratio is currently 37.96%.

Insider Buying and Selling

In other Hewlett Packard Enterprise news, EVP Neil B. Macdonald sold 29,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $17.00, for a total transaction of $493,000.00. Following the sale, the executive vice president now owns 82,061 shares in the company, valued at $1,395,037. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Antonio F. Neri sold 83,334 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $19.72, for a total value of $1,643,346.48. Following the completion of the sale, the chief executive officer now directly owns 1,758,641 shares in the company, valued at approximately $34,680,400.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Neil B. Macdonald sold 29,000 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $17.00, for a total transaction of $493,000.00. Following the transaction, the executive vice president now directly owns 82,061 shares in the company, valued at approximately $1,395,037. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 426,012 shares of company stock worth $8,599,617. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HPE. UBS Group increased their target price on shares of Hewlett Packard Enterprise from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, September 5th. Citigroup initiated coverage on Hewlett Packard Enterprise in a research note on Monday, September 23rd. They issued a “neutral” rating and a $20.00 price objective for the company. Loop Capital lifted their target price on Hewlett Packard Enterprise from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Monday, September 9th. Barclays upgraded shares of Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $20.00 to $24.00 in a research report on Wednesday, September 25th. Finally, Susquehanna reaffirmed a “neutral” rating and issued a $20.00 price objective on shares of Hewlett Packard Enterprise in a research report on Friday, October 11th. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Hewlett Packard Enterprise currently has a consensus rating of “Hold” and an average target price of $21.46.

Hewlett Packard Enterprise 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.