State of New Jersey Common Pension Fund D Sells 34,609 Shares of Hewlett Packard Enterprise Company $HPE

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Hewlett Packard Enterprise by 7.3%, selling 34,609 shares in the first quarter, leaving them with a total of 438,391 shares valued at approximately $6.76 million.
• Hewlett Packard Enterprise reported quarterly earnings of $0.38 per share, exceeding expectations and revealing $7.63 billion in revenue — a 5.9% year-over-year increase.
• Analysts have recently raised their price targets for Hewlett Packard Enterprise shares, with Evercore ISI increasing the target from $25.00 to $28.00 and multiple firms rating the stock with a consensus of "Moderate Buy."

State of New Jersey Common Pension Fund D decreased its position in shares of Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) by 7.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 438,391 shares of the technology company's stock after selling 34,609 shares during the period. State of New Jersey Common Pension Fund D's holdings in Hewlett Packard Enterprise were worth $6,764,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of HPE. Marathon Trading Investment Management LLC bought a new stake in shares of Hewlett Packard Enterprise during the 1st quarter valued at $262,000. Horizon Investments LLC increased its stake in Hewlett Packard Enterprise by 3.7% in the 1st quarter. Horizon Investments LLC now owns 35,494 shares of the technology company's stock worth $548,000 after buying an additional 1,250 shares in the last quarter. Providence Capital Advisors LLC raised its holdings in Hewlett Packard Enterprise by 15.4% during the first quarter. Providence Capital Advisors LLC now owns 352,900 shares of the technology company's stock valued at $5,445,000 after acquiring an additional 47,000 shares during the period. KLCM Advisors Inc. lifted its position in shares of Hewlett Packard Enterprise by 3.8% in the first quarter. KLCM Advisors Inc. now owns 27,242 shares of the technology company's stock valued at $420,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its stake in shares of Hewlett Packard Enterprise by 199.9% in the first quarter. Kovitz Investment Group Partners LLC now owns 302,149 shares of the technology company's stock worth $4,662,000 after acquiring an additional 201,384 shares during the period. 80.78% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on HPE. Wall Street Zen raised Hewlett Packard Enterprise from a "sell" rating to a "hold" rating in a research note on Sunday, July 13th. KeyCorp began coverage on shares of Hewlett Packard Enterprise in a report on Thursday, June 26th. They set a "sector weight" rating for the company. Citigroup initiated coverage on shares of Hewlett Packard Enterprise in a report on Friday, July 25th. They issued a "buy" rating and a $25.00 target price on the stock. Raymond James Financial upped 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 research report on Wednesday, June 4th. Finally, Morgan Stanley raised shares of Hewlett Packard Enterprise from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $22.00 to $28.00 in a research note on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and nine have issued 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 $23.27.

Hewlett Packard Enterprise Price Performance

HPE traded up $0.6410 during trading hours on Friday, hitting $22.4610. The company's stock had a trading volume of 18,242,237 shares, compared to its average volume of 18,758,158. The stock has a market cap of $29.47 billion, a price-to-earnings ratio of 22.69, a P/E/G ratio of 3.03 and a beta of 1.37. The business's 50-day moving average price is $20.21 and its 200-day moving average price is $18.29. The company has a current ratio of 1.29, a quick ratio of 0.96 and a debt-to-equity ratio of 0.52. Hewlett Packard Enterprise Company has a 12 month low of $11.97 and a 12 month high of $24.66.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last issued its quarterly earnings data on Tuesday, June 3rd. The technology company reported $0.38 EPS for the quarter, topping 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 business had revenue of $7.63 billion during the quarter, compared to analysts' expectations of $7.51 billion. During the same period last year, the company posted $0.42 EPS. The business's revenue was up 5.9% on a year-over-year basis. Hewlett Packard Enterprise has set its FY 2025 guidance at 1.780-1.900 EPS. Q3 2025 guidance at 0.400-0.450 EPS. Sell-side analysts expect that Hewlett Packard Enterprise Company will post 1.85 earnings per share for the current fiscal year.

Hewlett Packard Enterprise Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Wednesday, June 18th were given a dividend of $0.13 per share. The ex-dividend date was Wednesday, June 18th. This represents a $0.52 dividend on an annualized basis and a yield of 2.3%. Hewlett Packard Enterprise's payout ratio is 52.53%.

Insider Transactions at Hewlett Packard Enterprise

In other Hewlett Packard Enterprise news, EVP Phil Mottram sold 30,000 shares of the company's stock in a transaction on 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 of the company's stock, valued at $871,450.58. This represents a 41.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jeremy Cox sold 68,590 shares of the business's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $18.44, for a total transaction of $1,264,799.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 128,590 shares of company stock valued at $2,436,000. 0.36% of the stock is owned by corporate 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.