QRG Capital Management Inc. Lowers Stock Position in Hewlett Packard Enterprise Company $HPE

Key Points

• QRG Capital Management Inc. reduced its stake in Hewlett Packard Enterprise by 24.5% in the second quarter, bringing its total to 422,120 shares valued at approximately $8.63 million.
• Recent reports from analysts indicate a consensus Hold rating for HPE with an average price target of $24.94.
• Hewlett Packard Enterprise declared a quarterly dividend of $0.13 per share, with an annualized yield of 2.1%, payable on October 17th.

QRG Capital Management Inc. lowered its position in shares of Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) by 24.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 422,120 shares of the technology company's stock after selling 136,627 shares during the quarter. QRG Capital Management Inc.'s holdings in Hewlett Packard Enterprise were worth $8,632,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HPE. Alpine Bank Wealth Management purchased a new position in shares of Hewlett Packard Enterprise in the 1st quarter worth about $25,000. Bruce G. Allen Investments LLC raised its position in shares of Hewlett Packard Enterprise by 345.0% in 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. Zions Bancorporation National Association UT purchased a new position in shares of Hewlett Packard Enterprise in the 1st quarter worth about $27,000. MorganRosel Wealth Management LLC purchased a new position in shares of Hewlett Packard Enterprise in the 1st quarter worth about $31,000. Finally, Financial Freedom LLC raised its position in shares of Hewlett Packard Enterprise by 76.7% in the 1st quarter. Financial Freedom LLC now owns 2,197 shares of the technology company's stock worth $34,000 after purchasing an additional 954 shares during the last quarter. Hedge funds and other institutional investors own 80.78% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HPE. JPMorgan Chase & Co. began coverage on Hewlett Packard Enterprise in a research report on Thursday, July 17th. They issued an "overweight" rating and a $30.00 price target for the company. Loop Capital lifted their price target on Hewlett Packard Enterprise from $16.00 to $18.00 and gave the stock a "hold" rating in a research report on Monday, June 9th. Evercore ISI lifted their price target on Hewlett Packard Enterprise from $25.00 to $28.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 6th. Susquehanna lifted their price objective on Hewlett Packard Enterprise from $16.00 to $21.00 and gave the stock a "neutral" rating in a report on Thursday, September 4th. Finally, KeyCorp initiated coverage on Hewlett Packard Enterprise in a report on Thursday, June 26th. They issued a "sector weight" rating for the company. One equities research 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 company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $24.94.

Hewlett Packard Enterprise Price Performance

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

Hewlett Packard Enterprise Announces Dividend

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

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 stock was sold at an average price of $25.12, for a total transaction of $93,898.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Antonio F. Neri sold 166,666 shares of the business's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $25.03, for a total value of $4,171,649.98. Following the sale, the chief executive officer owned 1,585,726 shares of the company's stock, valued at approximately $39,690,721.78. This represents a 9.51% decrease in their ownership of the stock. 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 three months. 0.36% of the stock is currently owned by company 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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