13,564 Shares in Hewlett Packard Enterprise Company $HPE Acquired by Patton Fund Management Inc.

Key Points

• Patton Fund Management Inc. has acquired 13,564 shares of Hewlett Packard Enterprise Company, valued at approximately $277,000, as part of its recent investment strategy in the 2nd quarter.
• Insider activity shows that Director Gary M. Reiner sold 40,000 shares of HPE stock for approximately $983,200, indicating a 32.29% decrease in his position.
• Several analysts have raised their price targets for HPE, with Bank of America setting a new target of $25.00, and Evercore ISI raising theirs to $28.00, reflecting a generally positive outlook on the company.

Patton Fund Management Inc. bought a new position in Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 13,564 shares of the technology company's stock, valued at approximately $277,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HPE. Farther Finance Advisors LLC increased its stake in Hewlett Packard Enterprise by 2.3% in the 1st quarter. Farther Finance Advisors LLC now owns 31,437 shares of the technology company's stock worth $492,000 after buying an additional 699 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of Hewlett Packard Enterprise by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 70,600 shares of the technology company's stock worth $1,089,000 after purchasing an additional 700 shares in the last quarter. Pinnacle Financial Partners Inc grew its position in shares of Hewlett Packard Enterprise by 6.9% during the first quarter. Pinnacle Financial Partners Inc now owns 11,541 shares of the technology company's stock worth $178,000 after purchasing an additional 746 shares in the last quarter. Larson Financial Group LLC grew its position in shares of Hewlett Packard Enterprise by 16.7% during the first quarter. Larson Financial Group LLC now owns 5,370 shares of the technology company's stock worth $83,000 after purchasing an additional 769 shares in the last quarter. Finally, Veracity Capital LLC grew its holdings in Hewlett Packard Enterprise by 3.0% during the 1st quarter. Veracity Capital LLC now owns 26,724 shares of the technology company's stock valued at $412,000 after buying an additional 779 shares in the last quarter. 80.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Gary M. Reiner sold 40,000 shares of Hewlett Packard Enterprise stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $24.58, for a total transaction of $983,200.00. Following the completion of the transaction, the director directly owned 83,869 shares of the company's stock, valued at approximately $2,061,500.02. The trade was a 32.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Maeve C. Culloty sold 3,738 shares of Hewlett Packard Enterprise stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $25.12, for a total transaction of $93,898.56. The disclosure for this sale can be found here. Insiders sold 573,738 shares of company stock valued at $13,539,132 over the last ninety days. 0.36% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on HPE shares. KeyCorp started coverage on shares of Hewlett Packard Enterprise in a research note on Thursday, June 26th. They set a "sector weight" rating for the company. Bank of America raised their price objective on Hewlett Packard Enterprise from $24.00 to $25.00 and gave the company a "buy" rating in a research report on Tuesday, September 2nd. Evercore ISI raised their price objective on Hewlett Packard Enterprise from $25.00 to $28.00 and gave the company an "outperform" rating in a research report on Wednesday, August 6th. Wells Fargo & Company raised their price target on Hewlett Packard Enterprise from $22.00 to $26.00 and gave the company an "equal weight" rating in a report on Thursday, September 4th. Finally, Wall Street Zen upgraded Hewlett Packard Enterprise from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $24.81.

Hewlett Packard Enterprise Trading Down 0.8%

HPE opened at $24.01 on Friday. The firm has a market cap of $31.68 billion, a P/E ratio of 29.28, a P/E/G ratio of 2.49 and a beta of 1.43. The company has a current ratio of 0.95, a quick ratio of 0.69 and a debt-to-equity ratio of 0.69. The stock has a 50-day moving average of $22.37 and a 200 day moving average of $18.97. Hewlett Packard Enterprise Company has a 12 month low of $11.97 and a 12 month high of $25.36.

Hewlett Packard Enterprise Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Thursday, September 18th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Thursday, September 18th. Hewlett Packard Enterprise's payout ratio is presently 63.41%.

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.

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