Hewlett Packard Enterprise (NYSE:HPE) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA cut its holdings in shares of Hewlett Packard Enterprise (NYSE:HPE) by 1.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,354,856 shares of the technology company’s stock after selling 420,415 shares during the period. Primecap Management Co. CA owned approximately 2.41% of Hewlett Packard Enterprise worth $641,520,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Capital Investment Counsel Inc lifted its stake in Hewlett Packard Enterprise by 1.2% during the second quarter. Capital Investment Counsel Inc now owns 41,269 shares of the technology company’s stock valued at $874,000 after purchasing an additional 500 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Hewlett Packard Enterprise by 4.8% during the second quarter. First Horizon Advisors Inc. now owns 10,933 shares of the technology company’s stock valued at $231,000 after acquiring an additional 501 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of Hewlett Packard Enterprise by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 111,617 shares of the technology company’s stock valued at $2,363,000 after acquiring an additional 536 shares during the period. Avior Wealth Management LLC raised its holdings in shares of Hewlett Packard Enterprise by 6.4% during the third quarter. Avior Wealth Management LLC now owns 9,665 shares of the technology company’s stock valued at $198,000 after acquiring an additional 579 shares during the period. Finally, Bailard Inc. raised its holdings in shares of Hewlett Packard Enterprise by 1.7% during the second quarter. Bailard Inc. now owns 35,349 shares of the technology company’s stock valued at $748,000 after acquiring an additional 580 shares during the period. 80.78% of the stock is owned by institutional investors and hedge funds.

Hewlett Packard Enterprise Stock Performance

NYSE:HPE opened at $21.18 on Thursday. Hewlett Packard Enterprise has a 1 year low of $14.47 and a 1 year high of $22.82. The firm’s fifty day simple moving average is $20.15 and its 200 day simple moving average is $19.55. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $27.51 billion, a PE ratio of 15.13, a PEG ratio of 3.36 and a beta of 1.19.

Hewlett Packard Enterprise (NYSE:HPE) last posted its earnings results on Wednesday, September 4th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.67 billion. During the same period last year, the business posted $0.35 EPS. Hewlett Packard Enterprise’s revenue was up 10.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Hewlett Packard Enterprise will post 1.66 EPS for the current year.

Hewlett Packard Enterprise Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, September 19th were given a $0.13 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.52 annualized dividend and a yield of 2.46%. Hewlett Packard Enterprise’s dividend payout ratio is 37.14%.

Insiders Place Their Bets

In other Hewlett Packard Enterprise news, EVP Neil B. Macdonald sold 29,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $17.00, for a total value of $493,000.00. Following the sale, the executive vice president now directly owns 82,061 shares in the company, valued at $1,395,037. This trade represents a 26.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Antonio F. Neri sold 83,334 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $19.72, for a total transaction of $1,643,346.48. Following the completion of the sale, the chief executive officer now owns 1,758,641 shares in the company, valued at $34,680,400.52. This represents a 4.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 426,012 shares of company stock worth $8,599,617 in the last ninety days. Insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HPE. Bank of America upgraded shares of Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and boosted their price target for the company from $21.00 to $24.00 in a report on Tuesday, September 17th. Susquehanna restated a “neutral” rating and set a $20.00 price target on shares of Hewlett Packard Enterprise in a report on Friday, October 11th. Raymond James upgraded shares of Hewlett Packard Enterprise from an “outperform” rating to a “strong-buy” rating and boosted their price target for the company from $23.00 to $29.00 in a report on Monday. UBS Group upped their price objective on shares of Hewlett Packard Enterprise from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Thursday, September 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Hewlett Packard Enterprise in a research note on Wednesday, October 9th. They issued a “hold” rating and a $22.00 price objective on the stock. Nine analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $22.21.

About Hewlett Packard Enterprise

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.