Adage Capital Partners GP L.L.C. Sells 89,700 Shares of Hewlett Packard Enterprise Company $HPE

Key Points

• Adage Capital Partners GP L.L.C. reduced its stake in Hewlett Packard Enterprise by 10.1%, now owning 798,636 shares valued at approximately $12.3 million following the sale of 89,700 shares in Q1.
• CEO Antonio F. Neri recently sold 166,666 shares for about $3.75 million, decreasing his ownership by 7.99%. Insider sales over the last three months totaled 461,924 shares worth $10.1 million.
• The company announced a quarterly dividend of $0.13, with a payout ratio of 63.41%, and posted a market cap of approximately $30.88 billion with a current share price of $23.53.

Adage Capital Partners GP L.L.C. decreased its position in shares of Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) by 10.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 798,636 shares of the technology company's stock after selling 89,700 shares during the period. Adage Capital Partners GP L.L.C. owned 0.06% of Hewlett Packard Enterprise worth $12,323,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Putney Financial Group LLC bought a new stake in Hewlett Packard Enterprise during the 4th quarter worth approximately $25,000. Hara Capital LLC bought a new stake in Hewlett Packard Enterprise during the 4th quarter worth approximately $28,000. Ameriflex Group Inc. bought a new stake in Hewlett Packard Enterprise during the 4th quarter worth approximately $31,000. Alpine Bank Wealth Management bought a new stake in Hewlett Packard Enterprise during the 1st quarter worth approximately $25,000. Finally, Bruce G. Allen Investments LLC raised its stake in Hewlett Packard Enterprise by 345.0% during the 1st quarter. Bruce G. Allen Investments LLC now owns 1,700 shares of the technology company's stock worth $26,000 after acquiring an additional 1,318 shares during the period. Institutional investors own 80.78% of the company's stock.

Insiders Place Their Bets

In other Hewlett Packard Enterprise news, EVP Phil Mottram sold 30,000 shares of Hewlett Packard Enterprise stock in a transaction on Monday, June 30th. The shares were sold at an average price of $20.54, for a total transaction of $616,200.00. Following the completion of the transaction, the executive vice president directly owned 42,427 shares of the company's stock, valued at $871,450.58. The trade was a 41.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jeremy Cox sold 68,590 shares of Hewlett Packard Enterprise stock in a transaction on Friday, June 27th. The stock was sold at an average price of $18.44, for a total transaction of $1,264,799.60. The disclosure for this sale can be found here. Insiders sold 461,924 shares of company stock valued at $10,110,183 over the last three months. 0.36% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Hewlett Packard Enterprise from $22.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Thursday, September 4th. The Goldman Sachs Group increased their price objective on shares of Hewlett Packard Enterprise from $22.00 to $25.00 and gave the company a "neutral" rating in a report on Thursday, September 4th. Susquehanna increased their price objective on shares of Hewlett Packard Enterprise from $16.00 to $21.00 and gave the company a "neutral" rating in a report on Thursday, September 4th. Wall Street Zen raised shares of Hewlett Packard Enterprise from a "sell" rating to a "hold" rating in a report on Sunday, July 13th. Finally, Barclays increased their price objective on shares of Hewlett Packard Enterprise from $24.00 to $26.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Hewlett Packard Enterprise has an average rating of "Moderate Buy" and an average target price of $24.87.

Hewlett Packard Enterprise Price Performance

Shares of HPE stock traded up $0.08 on Friday, reaching $24.94. The company's stock had a trading volume of 4,773,207 shares, compared to its average volume of 19,158,447. The stock's fifty day simple moving average is $21.52 and its 200-day simple moving average is $18.48. Hewlett Packard Enterprise Company has a 1 year low of $11.97 and a 1 year high of $25.10. 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 company has a market capitalization of $32.90 billion, a price-to-earnings ratio of 30.40, a price-to-earnings-growth ratio of 2.51 and a beta of 1.43.

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 2.1%. 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.