Hewlett Packard Enterprise Company (NYSE:HPE) Position Lowered by Convergence Investment Partners LLC

Convergence Investment Partners LLC reduced its stake in Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) by 75.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,097 shares of the technology company's stock after selling 205,931 shares during the period. Convergence Investment Partners LLC's holdings in Hewlett Packard Enterprise were worth $1,035,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of HPE. Forum Financial Management LP lifted its holdings in Hewlett Packard Enterprise by 2.2% in the fourth quarter. Forum Financial Management LP now owns 23,639 shares of the technology company's stock valued at $505,000 after acquiring an additional 515 shares during the period. Huntington National Bank boosted its holdings in shares of Hewlett Packard Enterprise by 3.1% in the 4th quarter. Huntington National Bank now owns 17,463 shares of the technology company's stock worth $373,000 after purchasing an additional 529 shares during the period. Meridian Investment Counsel Inc. boosted its holdings in Hewlett Packard Enterprise by 3.6% during the 4th quarter. Meridian Investment Counsel Inc. now owns 17,232 shares of the technology company's stock valued at $368,000 after acquiring an additional 599 shares during the period. Colonial Trust Co SC raised its position in 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 purchasing an additional 622 shares in the last quarter. Finally, Lido Advisors LLC raised its position in Hewlett Packard Enterprise by 1.0% during the 4th quarter. Lido Advisors LLC now owns 71,024 shares of the technology company's stock valued at $1,526,000 after purchasing an additional 691 shares in the last quarter. 80.78% of the stock is owned by hedge funds and other institutional investors.

Hewlett Packard Enterprise Stock Performance

Shares of HPE traded up $0.20 during midday trading on Friday, reaching $20.71. 8,919,686 shares of the stock were exchanged, compared to its average volume of 19,790,958. The business's 50-day moving average price is $19.04 and its 200 day moving average price is $18.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.29 and a quick ratio of 0.96. Hewlett Packard Enterprise Company has a twelve month low of $11.97 and a twelve month high of $24.66. The company has a market capitalization of $27.17 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 2.25 and a beta of 1.35.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $7.63 billion for the quarter, compared to analysts' expectations of $7.51 billion. During the same quarter in the previous year, the firm posted $0.42 EPS. The firm's revenue for the quarter was up 5.9% on a year-over-year basis. On average, sell-side analysts expect that Hewlett Packard Enterprise Company will post 1.85 EPS for the current fiscal year.

Hewlett Packard Enterprise Announces Dividend

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

Analysts Set New Price Targets

Several research analysts recently issued reports on HPE shares. Wolfe Research assumed coverage on Hewlett Packard Enterprise in a research report on Tuesday, July 8th. They set a "peer perform" rating on the stock. Loop Capital upped their target price on Hewlett Packard Enterprise from $16.00 to $18.00 and gave the stock a "hold" rating in a research note on Monday, June 9th. Raymond James Financial upped their target price on Hewlett Packard Enterprise from $23.00 to $26.00 and gave the stock a "strong-buy" rating in a research note on Wednesday, June 4th. Barclays upped their target price on Hewlett Packard Enterprise from $24.00 to $26.00 and gave the stock an "overweight" rating in a research note on Thursday, July 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Hewlett Packard Enterprise from $21.00 to $26.00 and gave the stock a "buy" rating in a research note on Wednesday. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Hewlett Packard Enterprise has an average rating of "Moderate Buy" and an average target price of $22.67.

Insider Activity at Hewlett Packard Enterprise

In related news, SVP Jeremy Cox sold 68,590 shares of the company's stock in a transaction that occurred on 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 SEC, which is accessible through this hyperlink. Also, EVP Phil Mottram sold 30,000 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $20.54, for a total value of $616,200.00. Following the transaction, the executive vice president directly owned 42,427 shares in the company, valued at approximately $871,450.58. This represents a 41.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 128,590 shares of company stock worth $2,436,000 in the last three months. Corporate insiders own 0.36% of the company's stock.

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.