DAVENPORT & Co LLC Takes $1.24 Million Position in Hewlett Packard Enterprise Company $HPE

Key Points

• DAVENPORT & Co LLC has taken a new position in Hewlett Packard Enterprise, acquiring approximately $1.24 million worth of shares in the second quarter.
• Hewlett Packard Enterprise recently announced a $0.13 quarterly dividend to be paid on October 17th, with an annualized yield of 2.1%.
• The company reported earnings of $0.35 EPS for the last quarter, falling short of analysts' expectations and setting a FY 2025 guidance of 1.880-1.920 EPS.

DAVENPORT & Co LLC acquired a new stake in Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 60,442 shares of the technology company's stock, valued at approximately $1,236,000.

Several other institutional investors and hedge funds have also made changes to their positions in HPE. Alpine Bank Wealth Management bought a new position in shares of Hewlett Packard Enterprise in the first quarter valued at approximately $25,000. Zions Bancorporation National Association UT bought a new position in shares of Hewlett Packard Enterprise in the first quarter valued at approximately $27,000. MorganRosel Wealth Management LLC acquired a new stake in Hewlett Packard Enterprise during the first quarter valued at approximately $31,000. Financial Freedom LLC lifted its stake in Hewlett Packard Enterprise by 76.7% during the first quarter. Financial Freedom LLC now owns 2,197 shares of the technology company's stock valued at $34,000 after purchasing an additional 954 shares during the last quarter. Finally, Hilltop National Bank acquired a new stake in Hewlett Packard Enterprise during the second quarter valued at approximately $35,000. 80.78% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Hewlett Packard Enterprise news, Director Gary M. Reiner sold 40,000 shares of the stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $24.58, for a total value of $983,200.00. Following the completion of the sale, the director owned 83,869 shares in the company, valued at $2,061,500.02. This represents a 32.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Maeve C. Culloty sold 3,738 shares of the stock in a transaction that occurred on 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 a total of 543,738 shares of company stock worth $12,922,932 in the last quarter. 0.36% of the stock is currently owned by corporate insiders.

Hewlett Packard Enterprise Stock Down 7.0%

Shares of NYSE:HPE opened at $24.42 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.69 and a current ratio of 0.95. The company has a market cap of $32.23 billion, a PE ratio of 29.79, a price-to-earnings-growth ratio of 2.74 and a beta of 1.45. Hewlett Packard Enterprise Company has a 52 week low of $11.97 and a 52 week high of $26.44. The firm has a 50 day simple moving average of $23.22 and a 200 day simple moving average of $19.59.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last issued its quarterly earnings results on Wednesday, September 3rd. The technology company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.09). The firm had revenue of $9.14 billion during the quarter, compared to analysts' expectations of $8.77 billion. Hewlett Packard Enterprise had a net margin of 3.77% and a return on equity of 9.01%. The firm's revenue was up 19.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.50 EPS. Hewlett Packard Enterprise has set its FY 2025 guidance at 1.880-1.920 EPS. Q4 2025 guidance at 0.560-0.600 EPS. As a group, research analysts expect that Hewlett Packard Enterprise Company will post 1.85 earnings per share for the current year.

Hewlett Packard Enterprise Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Shareholders of record on Thursday, September 18th will be given a $0.13 dividend. The ex-dividend date is Thursday, September 18th. This represents a $0.52 dividend on an annualized basis and a yield of 2.1%. Hewlett Packard Enterprise's dividend payout ratio is presently 63.41%.

Wall Street Analyst Weigh In

Several research firms recently commented on HPE. 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 research note on Wednesday, August 6th. 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 research note on Thursday, September 4th. Barclays increased their target price on shares of Hewlett Packard Enterprise from $24.00 to $26.00 and gave the company an "overweight" rating in a research note on Thursday, July 3rd. Bank of America increased their target price on shares of Hewlett Packard Enterprise from $24.00 to $25.00 and gave the company a "buy" rating in a research note on Tuesday, September 2nd. Finally, Sanford C. Bernstein began coverage on shares of Hewlett Packard Enterprise in a research note on Tuesday, September 16th. They set a "market perform" rating and a $24.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $25.06.

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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