HB Wealth Management LLC Raises Stake in Hewlett Packard Enterprise Company (NYSE:HPE)

Key Points

• HB Wealth Management LLC has increased its stake in Hewlett Packard Enterprise (NYSE:HPE) by 28.5%, now owning a total of 115,062 shares valued at approximately $1,775,000.
• The stock's price recently closed at $20.87, with a market cap of $27.39 billion and a price-to-earnings ratio of 21.08.
• Hewlett Packard Enterprise reported $0.38 earnings per share in its latest quarterly earnings, surpassing analysts' expectations of $0.33.

HB Wealth Management LLC increased its holdings in shares of Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) by 28.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115,062 shares of the technology company's stock after purchasing an additional 25,502 shares during the quarter. HB Wealth Management LLC's holdings in Hewlett Packard Enterprise were worth $1,775,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Hewlett Packard Enterprise in the 4th quarter valued at approximately $119,067,000. Slate Path Capital LP increased its holdings in Hewlett Packard Enterprise by 44.8% in the 4th quarter. Slate Path Capital LP now owns 12,689,164 shares of the technology company's stock valued at $270,914,000 after purchasing an additional 3,924,039 shares during the last quarter. Northern Trust Corp increased its holdings in Hewlett Packard Enterprise by 24.7% in the 4th quarter. Northern Trust Corp now owns 16,184,240 shares of the technology company's stock valued at $345,534,000 after purchasing an additional 3,208,424 shares during the last quarter. Worldquant Millennium Advisors LLC raised its position in Hewlett Packard Enterprise by 1,382.5% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 3,299,615 shares of the technology company's stock valued at $70,447,000 after purchasing an additional 3,077,046 shares during the period. Finally, Freestone Grove Partners LP acquired a new position in Hewlett Packard Enterprise during the fourth quarter worth $60,040,000. 80.78% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on HPE shares. Wells Fargo & Company lifted their price objective on Hewlett Packard Enterprise from $20.00 to $22.00 and gave the company an "equal weight" rating in a research note on Thursday, July 3rd. UBS Group lifted their target price on Hewlett Packard Enterprise from $16.00 to $18.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. The Goldman Sachs Group began coverage on shares of Hewlett Packard Enterprise in a research note on Thursday, July 24th. They set a "neutral" rating and a $22.00 price target on the stock. Wolfe Research began coverage on shares of Hewlett Packard Enterprise in a research report on Tuesday, July 8th. They set a "peer perform" rating on the stock. Finally, Raymond James Financial increased their target price on shares of Hewlett Packard Enterprise from $23.00 to $26.00 and gave the stock a "strong-buy" rating in a report on Wednesday, June 4th. Eleven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Hewlett Packard Enterprise presently has an average rating of "Moderate Buy" and a consensus price target of $22.67.

Insiders Place Their Bets

In other Hewlett Packard Enterprise news, 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 transaction, the executive vice president owned 42,427 shares of the company's stock, valued at approximately $871,450.58. This trade represents a 41.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jeremy Cox sold 68,590 shares of the business's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $18.44, for a total value of $1,264,799.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 128,590 shares of company stock valued at $2,436,000. 0.36% of the stock is owned by corporate insiders.

Hewlett Packard Enterprise Stock Down 4.1%

Shares of HPE traded down $0.85 during mid-day trading on Friday, reaching $19.84. The company's stock had a trading volume of 6,166,881 shares, compared to its average volume of 19,059,686. 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 12-month low of $11.97 and a 12-month high of $24.66. The stock has a market cap of $26.03 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 2.29 and a beta of 1.35. The company's 50 day moving average is $19.30 and its 200 day moving average is $18.49.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last announced its quarterly earnings results on Tuesday, June 3rd. The technology company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $7.51 billion. During the same period in the prior year, the company posted $0.42 earnings per share. The firm's quarterly revenue was up 5.9% compared to the same quarter last year. Equities analysts anticipate that Hewlett Packard Enterprise Company will post 1.85 EPS for the current fiscal year.

Hewlett Packard Enterprise Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Investors of record on Wednesday, June 18th were given a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $0.52 dividend on an annualized basis and a yield of 2.6%. Hewlett Packard Enterprise's payout ratio is 52.53%.

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.