AQR Capital Management LLC Raises Stake in Hewlett Packard Enterprise Company $HPE

Key Points

• AQR Capital Management LLC increased its stake in Hewlett Packard Enterprise (HPE) by 45.6%, owning over 12.5 million shares valued at approximately $193 million.
• Hewlett Packard Enterprise reported earnings of $0.38 per share, exceeding expectations and marking a 5.9% year-over-year revenue growth of $7.63 billion.
• The company announced a quarterly dividend of $0.13 per share, effective October 17th, which results in a 2.3% dividend yield.

AQR Capital Management LLC grew its stake in shares of Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) by 45.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,521,303 shares of the technology company's stock after buying an additional 3,922,516 shares during the quarter. AQR Capital Management LLC owned 0.95% of Hewlett Packard Enterprise worth $193,078,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Forum Financial Management LP raised its position in shares of Hewlett Packard Enterprise by 2.2% during the 4th quarter. Forum Financial Management LP now owns 23,639 shares of the technology company's stock valued at $505,000 after buying an additional 515 shares in the last quarter. Colonial Trust Co SC raised its position in shares of Hewlett Packard Enterprise by 16.4% during the 4th quarter. Colonial Trust Co SC now owns 4,420 shares of the technology company's stock valued at $94,000 after buying an additional 622 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Hewlett Packard Enterprise by 2.3% during the 1st quarter. Farther Finance Advisors LLC now owns 31,437 shares of the technology company's stock valued at $492,000 after buying an additional 699 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Hewlett Packard Enterprise by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 70,600 shares of the technology company's stock valued at $1,089,000 after buying an additional 700 shares in the last quarter. Finally, Pinnacle Financial Partners Inc raised its position in shares of Hewlett Packard Enterprise by 6.9% during the 1st quarter. Pinnacle Financial Partners Inc now owns 11,541 shares of the technology company's stock valued at $178,000 after buying an additional 746 shares in the last quarter. Hedge funds and other institutional investors own 80.78% of the company's stock.

Insiders Place Their Bets

In other news, CEO Antonio F. Neri sold 83,334 shares of the firm's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $24.04, for a total value of $2,003,349.36. Following the completion of the sale, the chief executive officer directly owned 1,752,392 shares of the company's stock, valued at approximately $42,127,503.68. This trade represents a 4.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Phil Mottram sold 30,000 shares of the firm's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $20.54, for a total transaction 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 represents a 41.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 461,924 shares of company stock valued at $10,110,183 in the last quarter. Insiders own 0.36% of the company's stock.

Hewlett Packard Enterprise Trading Up 1.6%

Hewlett Packard Enterprise stock traded up $0.37 during trading hours on Friday, reaching $23.53. The stock had a trading volume of 24,229,009 shares, compared to its average volume of 19,697,092. The stock has a market cap of $30.88 billion, a PE ratio of 28.70, a PEG ratio of 2.10 and a beta of 1.43. Hewlett Packard Enterprise Company has a 52 week low of $11.97 and a 52 week high of $24.66. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.29 and a quick ratio of 0.96. The company has a fifty day simple moving average of $21.26 and a 200-day simple moving average of $18.38.

Hewlett Packard Enterprise Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. UBS Group increased their target price on shares of Hewlett Packard Enterprise from $18.00 to $23.00 and gave the company a "neutral" rating in a report on Thursday. KeyCorp assumed coverage on shares of Hewlett Packard Enterprise in a report on Thursday, June 26th. They set a "sector weight" rating on the stock. Susquehanna increased their target price on shares of Hewlett Packard Enterprise from $16.00 to $21.00 and gave the company a "neutral" rating in a report on Thursday. Wolfe Research assumed coverage on shares of Hewlett Packard Enterprise in a report on Tuesday, July 8th. They set a "peer perform" rating on the stock. Finally, Evercore ISI increased their target price on shares of Hewlett Packard Enterprise from $25.00 to $28.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $24.87.

Hewlett Packard Enterprise Company 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.