Hewlett Packard Enterprise Company (NYSE:HPE) Shares Bought by Vestcor Inc

Key Points

• Vestcor Inc significantly increased its stake in Hewlett Packard Enterprise by 392.0%, owning 125,582 shares valued at approximately $1.94 million as of the end of the most recent quarter.
• Insider sales included EVP Phil Mottram selling 30,000 shares and SVP Jeremy Cox selling 68,590 shares, totaling over $2.43 million in sales in the last 90 days.
• Hewlett Packard Enterprise reported a 5.9% year-over-year revenue increase to $7.63 billion for the most recent quarter, beating analysts' expectations.

Vestcor Inc increased its stake in Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) by 392.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,582 shares of the technology company's stock after purchasing an additional 100,056 shares during the quarter. Vestcor Inc's holdings in Hewlett Packard Enterprise were worth $1,938,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Putney Financial Group LLC purchased a new position in Hewlett Packard Enterprise during the 4th quarter valued at about $25,000. Alpine Bank Wealth Management acquired a new stake in shares of Hewlett Packard Enterprise during the 1st quarter worth about $25,000. Bruce G. Allen Investments LLC boosted its stake in shares of Hewlett Packard Enterprise by 345.0% during the 1st quarter. Bruce G. Allen Investments LLC now owns 1,700 shares of the technology company's stock worth $26,000 after purchasing an additional 1,318 shares during the last quarter. Hara Capital LLC acquired a new stake in shares of Hewlett Packard Enterprise in the fourth quarter worth approximately $28,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Hewlett Packard Enterprise in the fourth quarter worth approximately $31,000. Hedge funds and other institutional investors own 80.78% of the company's stock.

Insider Transactions at Hewlett Packard Enterprise

In other news, EVP Phil Mottram sold 30,000 shares of the company's stock in a transaction dated 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 owned 42,427 shares in the company, valued at $871,450.58. This represents a 41.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jeremy Cox sold 68,590 shares of the company'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. Insiders have sold 128,590 shares of company stock valued at $2,436,000 over the last ninety days. Insiders own 0.36% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HPE shares. Morgan Stanley lifted their price target on shares of Hewlett Packard Enterprise from $14.00 to $22.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 20th. KeyCorp started coverage on shares of Hewlett Packard Enterprise in a research note on Thursday, June 26th. They set a "sector weight" rating on the stock. Wall Street Zen upgraded shares of Hewlett Packard Enterprise from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. Barclays lifted their price objective on shares of Hewlett Packard Enterprise from $24.00 to $26.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Finally, JPMorgan Chase & Co. initiated coverage on shares of Hewlett Packard Enterprise in a report on Thursday, July 17th. They issued an "overweight" rating and a $30.00 price objective for the company. Eleven analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Hewlett Packard Enterprise has an average rating of "Moderate Buy" and a consensus price target of $22.67.

Hewlett Packard Enterprise Stock Down 1.0%

Hewlett Packard Enterprise stock opened at $20.69 on Friday. The stock has a market cap of $27.15 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 2.29 and a beta of 1.35. The company has a current ratio of 1.29, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. The company's 50-day moving average price is $19.30 and its two-hundred day moving average price is $18.49. Hewlett Packard Enterprise Company has a 52 week low of $11.97 and a 52 week high of $24.66.

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 for the quarter, beating analysts' consensus estimates of $0.33 by $0.05. Hewlett Packard Enterprise had a net margin of 4.60% and a return on equity of 9.59%. The company 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 earned $0.42 EPS. Hewlett Packard Enterprise's revenue was up 5.9% on a year-over-year basis. On average, 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 disclosed a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Wednesday, June 18th were paid a dividend of $0.13 per share. 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 2.5%. Hewlett Packard Enterprise's dividend payout ratio is currently 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.

Want to see what other hedge funds are holding HPE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hewlett Packard Enterprise Company (NYSE:HPE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.