Hewlett Packard Enterprise Company $HPE Stock Sold by GRIMES & Co WEALTH MANAGEMENT LLC

Key Points

• GRIMES & Co Wealth Management cut its HPE stake by 48.3% in the third quarter, selling 330,590 shares and retaining 354,016 shares valued at approximately $22.6 million. Institutional investors collectively own 80.78% of HPE.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $65.44, despite Barclays downgrading the stock to “equal weight.”
• HPE reported stronger-than-expected quarterly results, including $1.11 in adjusted EPS and $12.21 billion in revenue, up 33.7% year over year. The company also maintains a quarterly dividend of $0.1425 per share, equivalent to a 1.1% annual yield.

GRIMES & Co WEALTH MANAGEMENT LLC reduced its position in shares of Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) by 48.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 354,016 shares of the technology company's stock after selling 330,590 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC's holdings in Hewlett Packard Enterprise were worth $22,618,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of HPE. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Hewlett Packard Enterprise during the 2nd quarter worth $1,027,139,000. Primecap Management Co. CA bought a new stake in shares of Hewlett Packard Enterprise in the second quarter valued at about $773,225,000. Elliott Investment Management L.P. raised its holdings in shares of Hewlett Packard Enterprise by 47.2% in the first quarter. Elliott Investment Management L.P. now owns 27,421,735 shares of the technology company's stock valued at $652,912,000 after acquiring an additional 8,790,757 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Hewlett Packard Enterprise by 6.1% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,088,774 shares of the technology company's stock valued at $590,435,000 after acquiring an additional 756,972 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in Hewlett Packard Enterprise in the second quarter worth about $512,721,000. 80.78% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Hewlett Packard Enterprise

In other news, Director Gary Reiner sold 17,000 shares of the company's stock in a transaction on Monday, September 14th. The stock was sold at an average price of $56.91, for a total transaction of $967,470.00. Following the transaction, the director directly owned 65,072 shares of the company's stock, valued at approximately $3,703,247.52. This represents a 20.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Rami Rahim sold 34,443 shares of the stock in a transaction on Wednesday, October 21st. The shares were sold at an average price of $58.04, for a total value of $1,999,071.72. Following the sale, the executive vice president owned 840,690 shares of the company's stock, valued at approximately $48,793,647.60. This represents a 3.94% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 585,899 shares of company stock valued at $37,270,329 over the last 90 days. Insiders own 0.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HPE. Evercore increased their target price on shares of Hewlett Packard Enterprise from $65.00 to $67.00 and gave the stock an "outperform" rating in a report on Thursday, October 1st. Piper Sandler boosted their price target on shares of Hewlett Packard Enterprise from $57.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, October 1st. Zacks Research raised shares of Hewlett Packard Enterprise from a "hold" rating to a "strong-buy" rating in a research report on Friday, September 4th. The Goldman Sachs Group increased their price objective on shares of Hewlett Packard Enterprise from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, October 6th. Finally, Barclays lowered shares of Hewlett Packard Enterprise from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $83.00 to $77.00 in a report on Wednesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $65.44.

Hewlett Packard Enterprise Price Performance

HPE opened at $51.11 on Tuesday. The business's 50-day moving average is $59.66 and its two-hundred day moving average is $40.86. Hewlett Packard Enterprise Company has a 1 year low of $19.84 and a 1 year high of $73.56. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.11 and a quick ratio of 0.72. The firm has a market capitalization of $67.85 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 0.54 and a beta of 1.39.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last released its quarterly earnings results on Wednesday, September 2nd. The technology company reported $1.11 EPS for the quarter, beating the consensus estimate of $0.93 by $0.18. Hewlett Packard Enterprise had a net margin of 6.60% and a return on equity of 15.50%. The business had revenue of $12.21 billion during the quarter, compared to analyst estimates of $11.97 billion. During the same period in the prior year, the firm posted $0.44 earnings per share. The company's quarterly revenue was up 33.7% on a year-over-year basis. Hewlett Packard Enterprise has set its Q4 2026 guidance at 1.200-1.300 EPS and its FY 2026 guidance at 3.750-3.850 EPS. Research analysts anticipate that Hewlett Packard Enterprise Company will post 3.34 earnings per share for the current fiscal year.

Hewlett Packard Enterprise Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 16th. Investors of record on Thursday, September 17th were given a dividend of $0.1425 per share. The ex-dividend date of this dividend was Thursday, September 17th. This represents a $0.57 dividend on an annualized basis and a yield of 1.1%. Hewlett Packard Enterprise's dividend payout ratio is presently 29.69%.

Hewlett Packard Enterprise Profile

Hewlett Packard Enterprise Company NYSE: HPE is a global technology company that provides information technology solutions for businesses, governments and other organizations. Its offerings are designed to help customers build, manage and modernize data centers, hybrid cloud environments and edge computing operations.

HPE's portfolio includes enterprise servers and compute systems, data storage, networking products, high-performance computing and artificial intelligence infrastructure.

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