Freemont Management S.A. Purchases Shares of 91,500 Hewlett Packard Enterprise Company (NYSE:HPE)

Key Points

• Freemont Management S.A. acquired 91,500 shares of Hewlett Packard Enterprise (HPE), valued at approximately $1.4 million, in the first quarter.
• Institutional investors collectively own 80.78% of HPE's shares, with several large investors like Geode Capital and Northern Trust significantly increasing their stakes.
• Hewlett Packard Enterprise reported a 5.9% year-over-year revenue increase for the quarter, with earnings per share outperforming analyst estimates at $0.38.

Freemont Management S.A. bought a new position in shares of Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 91,500 shares of the technology company's stock, valued at approximately $1,412,000.

Other institutional investors also recently modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of Hewlett Packard Enterprise by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 32,173,982 shares of the technology company's stock worth $686,011,000 after purchasing an additional 681,242 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Hewlett Packard Enterprise by 24.7% during the 4th quarter. Northern Trust Corp now owns 16,184,240 shares of the technology company's stock worth $345,534,000 after purchasing an additional 3,208,424 shares in the last quarter. Slate Path Capital LP grew its holdings in shares of Hewlett Packard Enterprise by 44.8% during the 4th quarter. Slate Path Capital LP now owns 12,689,164 shares of the technology company's stock worth $270,914,000 after purchasing an additional 3,924,039 shares in the last quarter. First Trust Advisors LP boosted its stake in Hewlett Packard Enterprise by 9.4% in the fourth quarter. First Trust Advisors LP now owns 7,692,175 shares of the technology company's stock valued at $164,228,000 after buying an additional 658,117 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its position in Hewlett Packard Enterprise by 32.9% in the first quarter. Allianz Asset Management GmbH now owns 5,677,528 shares of the technology company's stock valued at $87,604,000 after purchasing an additional 1,406,813 shares during the last quarter. 80.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HPE. The Goldman Sachs Group raised Hewlett Packard Enterprise to a "neutral" rating and set a $22.00 target price on the stock in a research report on Thursday. Citigroup restated a "buy" rating and issued a $25.00 target price on shares of Hewlett Packard Enterprise in a research note on Friday. Wells Fargo & Company boosted their price objective on Hewlett Packard Enterprise from $20.00 to $22.00 and gave the company an "equal weight" rating in a research note on Thursday, July 3rd. Bank of America boosted their price objective on Hewlett Packard Enterprise from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Finally, Morgan Stanley boosted their price objective on Hewlett Packard Enterprise from $14.00 to $22.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 20th. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $22.67.

Hewlett Packard Enterprise Price Performance

Shares of HPE traded up $0.20 during midday trading on Friday, reaching $20.71. The stock had a trading volume of 8,919,686 shares, compared to its average volume of 19,790,958. The company's 50-day moving average is $19.04 and its 200 day moving average is $18.50. Hewlett Packard Enterprise Company has a 12-month low of $11.97 and a 12-month high of $24.66. The company has a current ratio of 1.29, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $27.17 billion, a price-to-earnings ratio of 20.91, a price-to-earnings-growth ratio of 2.28 and a beta of 1.35.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last released its earnings results on Tuesday, June 3rd. The technology company reported $0.38 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.05. Hewlett Packard Enterprise had a return on equity of 9.59% and a net margin of 4.60%. The company had revenue of $7.63 billion during the quarter, compared to analyst estimates of $7.51 billion. During the same quarter in the previous year, the company posted $0.42 EPS. Hewlett Packard Enterprise's revenue for the quarter was up 5.9% on a year-over-year basis. On average, equities analysts predict that Hewlett Packard Enterprise Company will post 1.85 EPS for the current fiscal year.

Hewlett Packard Enterprise Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Wednesday, June 18th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Wednesday, June 18th. Hewlett Packard Enterprise's dividend payout ratio (DPR) is presently 52.53%.

Insider Transactions at Hewlett Packard Enterprise

In other news, SVP Jeremy Cox sold 68,590 shares of the business's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $18.44, for a total value of $1,264,799.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Phil Mottram sold 30,000 shares of the business's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $20.54, for a total value of $616,200.00. Following the completion of the sale, the executive vice president directly owned 42,427 shares of the company's stock, valued at approximately $871,450.58. This trade represents a 41.42% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 128,590 shares of company stock valued at $2,436,000. 0.36% of the stock is currently owned by corporate insiders.

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.