Grimes & Company Inc. Lowers Stock Position in Hewlett Packard Enterprise Company $HPE

Key Points

• Grimes & Company Inc. reduced its stake in Hewlett Packard Enterprise by 29.9%, owning 924,597 shares after selling 393,820 shares in the second quarter, representing a valuation of approximately $18.9 million.
• The company announced a quarterly dividend of $0.13 per share, with a yield of 2.1%, to be paid on October 17th.
• Several analysts have raised their price targets for Hewlett Packard Enterprise, with Bank of America setting a target at $25.00 and Citigroup at $26.00, indicating a positive outlook for the stock.

Grimes & Company Inc. cut its position in shares of Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) by 29.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 924,597 shares of the technology company's stock after selling 393,820 shares during the period. Grimes & Company Inc. owned 0.07% of Hewlett Packard Enterprise worth $18,908,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Alpine Bank Wealth Management purchased a new stake in Hewlett Packard Enterprise during the first quarter worth $25,000. Bruce G. Allen Investments LLC lifted its holdings in Hewlett Packard Enterprise by 345.0% during the first quarter. Bruce G. Allen Investments LLC now owns 1,700 shares of the technology company's stock valued at $26,000 after purchasing an additional 1,318 shares in the last quarter. Hilltop National Bank purchased a new position in Hewlett Packard Enterprise during the second quarter valued at $35,000. Zions Bancorporation National Association UT purchased a new position in Hewlett Packard Enterprise during the first quarter valued at $27,000. Finally, MorganRosel Wealth Management LLC purchased a new position in Hewlett Packard Enterprise during the first quarter valued at $31,000. 80.78% of the stock is owned by hedge funds and other institutional investors.

Hewlett Packard Enterprise Price Performance

Shares of NYSE HPE opened at $24.43 on Monday. The firm has a 50-day simple moving average of $22.76 and a 200-day simple moving average of $19.32. The stock has a market capitalization of $32.23 billion, a price-to-earnings ratio of 29.79, a price-to-earnings-growth ratio of 2.55 and a beta of 1.45. The company has a quick ratio of 0.69, a current ratio of 0.95 and a debt-to-equity ratio of 0.69. Hewlett Packard Enterprise Company has a 52 week low of $11.97 and a 52 week high of $25.36.

Hewlett Packard Enterprise Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, September 18th. This represents a $0.52 dividend on an annualized basis and a yield of 2.1%. Hewlett Packard Enterprise's payout ratio is 63.41%.

Analysts Set New Price Targets

Several research firms have issued reports on HPE. 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. Bank of America increased their price objective on shares of Hewlett Packard Enterprise from $24.00 to $25.00 and gave the company a "buy" rating in a report on Tuesday, September 2nd. Citigroup increased their price objective on shares of Hewlett Packard Enterprise from $25.00 to $26.00 and gave the company a "buy" rating in a report on Thursday, September 4th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Hewlett Packard Enterprise in a report on Saturday, September 27th. Finally, Sanford C. Bernstein began coverage on shares of Hewlett Packard Enterprise in a report on Tuesday, September 16th. They set a "market perform" rating and a $24.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, Hewlett Packard Enterprise currently has a consensus rating of "Hold" and a consensus target price of $24.94.

Insider Buying and Selling at Hewlett Packard Enterprise

In other Hewlett Packard Enterprise news, EVP Maeve C. Culloty sold 3,738 shares of the business's stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $25.12, for a total value of $93,898.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gary M. Reiner sold 40,000 shares of the business's stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $24.58, for a total transaction of $983,200.00. Following the completion of the transaction, the director owned 83,869 shares in the company, valued at $2,061,500.02. The trade was a 32.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 543,738 shares of company stock worth $12,922,932 in the last ninety days. 0.36% of the stock is owned by insiders.

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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