Hewlett Packard Enterprise (NYSE:HPE) Shares Down 4.3% – Here’s Why

Hewlett Packard Enterprise (NYSE:HPE) shares traded down 4.3% during trading on Tuesday . The company traded as low as $21.40 and last traded at $21.95. 2,970,696 shares changed hands during trading, a decline of 79% from the average session volume of 14,238,641 shares. The stock had previously closed at $22.95.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on HPE shares. StockNews.com downgraded Hewlett Packard Enterprise from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 3rd. Loop Capital boosted their price objective on Hewlett Packard Enterprise from $18.00 to $24.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Citigroup raised Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and raised their target price for the stock from $23.00 to $26.00 in a research report on Friday, December 6th. Susquehanna restated a “neutral” rating and issued a $20.00 price objective on shares of Hewlett Packard Enterprise in a research note on Friday, October 11th. Finally, Barclays lifted their target price on shares of Hewlett Packard Enterprise from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Hewlett Packard Enterprise presently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Hewlett Packard Enterprise Trading Down 7.7 %

The business’s 50 day simple moving average is $22.12 and its 200-day simple moving average is $20.43. The stock has a market capitalization of $27.87 billion, a P/E ratio of 11.19, a PEG ratio of 2.27 and a beta of 1.20. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.29 and a quick ratio of 0.99.

Hewlett Packard Enterprise Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Friday, December 20th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend was Friday, December 20th. Hewlett Packard Enterprise’s payout ratio is presently 27.37%.

Insider Buying and Selling

In related news, EVP John F. Schultz sold 262,818 shares of Hewlett Packard Enterprise stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $21.62, for a total transaction of $5,682,125.16. Following the completion of the sale, the executive vice president now owns 270,430 shares of the company’s stock, valued at approximately $5,846,696.60. The trade was a 49.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jeremy Cox sold 11,577 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $23.00, for a total value of $266,271.00. Following the completion of the transaction, the senior vice president now directly owns 48,615 shares in the company, valued at $1,118,145. The trade was a 19.23 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 332,166 shares of company stock valued at $7,300,629. 0.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Hewlett Packard Enterprise

Hedge funds and other institutional investors have recently made changes to their positions in the business. Apollon Wealth Management LLC raised its position in shares of Hewlett Packard Enterprise by 16.8% in the 4th quarter. Apollon Wealth Management LLC now owns 30,196 shares of the technology company’s stock valued at $645,000 after buying an additional 4,334 shares in the last quarter. Cantor Fitzgerald Investment Advisors L.P. raised its stake in Hewlett Packard Enterprise by 1.2% during the fourth quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 488,326 shares of the technology company’s stock worth $10,426,000 after acquiring an additional 5,689 shares in the last quarter. Vest Financial LLC lifted its holdings in shares of Hewlett Packard Enterprise by 25.5% in the fourth quarter. Vest Financial LLC now owns 26,951 shares of the technology company’s stock worth $575,000 after acquiring an additional 5,470 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Hewlett Packard Enterprise by 11.5% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 142,835 shares of the technology company’s stock valued at $3,050,000 after purchasing an additional 14,720 shares during the last quarter. Finally, Tandem Financial LLC bought a new position in Hewlett Packard Enterprise in the 4th quarter valued at approximately $32,000. 80.78% of the stock is currently owned by institutional investors and hedge funds.

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.