Sumitomo Mitsui Trust Group Inc. Sells 73,542 Shares of Hewlett Packard Enterprise Company $HPE

Key Points

• Sumitomo Mitsui Trust Group trimmed its Hewlett Packard Enterprise stake by 2.4% in the first quarter, selling 73,542 shares and leaving it with 2.99 million shares valued at about $71.2 million.
• HPE beat quarterly expectations, reporting EPS of $0.79 versus $0.54 expected and revenue of $10.68 billion versus $9.78 billion expected, with revenue up 40% year over year.
• Analysts have turned more bullish on HPE, with multiple firms sharply raising price targets and the consensus rating sitting at “Moderate Buy” with an average target of $64.65.

Sumitomo Mitsui Trust Group Inc. lessened its stake in Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) by 2.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,990,287 shares of the technology company's stock after selling 73,542 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Hewlett Packard Enterprise worth $71,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of HPE. SJS Investment Consulting Inc. grew its position in shares of Hewlett Packard Enterprise by 159.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 1,165 shares of the technology company's stock worth $28,000 after buying an additional 716 shares during the last quarter. Headlands Technologies LLC purchased a new stake in Hewlett Packard Enterprise during the second quarter valued at approximately $26,000. Union Savings Bank acquired a new stake in Hewlett Packard Enterprise in the fourth quarter valued at approximately $30,000. Reflection Asset Management acquired a new stake in Hewlett Packard Enterprise in the fourth quarter valued at approximately $31,000. Finally, Thompson Investment Management Inc. purchased a new position in Hewlett Packard Enterprise in the fourth quarter worth $34,000. 80.78% of the stock is owned by hedge funds and other institutional investors.

Hewlett Packard Enterprise Stock Performance

NYSE:HPE traded down $0.66 during trading hours on Friday, hitting $48.45. 19,434,951 shares of the company were exchanged, compared to its average volume of 22,292,740. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.09 and a quick ratio of 0.75. Hewlett Packard Enterprise Company has a 52-week low of $19.64 and a 52-week high of $64.25. The stock has a market capitalization of $64.16 billion, a price-to-earnings ratio of 45.28, a PEG ratio of 0.53 and a beta of 1.42. The company's 50 day moving average price is $41.93 and its 200-day moving average price is $29.79.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last posted its quarterly earnings results on Monday, June 1st. The technology company reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.25. The business had revenue of $10.68 billion during the quarter, compared to analysts' expectations of $9.78 billion. Hewlett Packard Enterprise had a net margin of 3.94% and a return on equity of 11.91%. The business's quarterly revenue was up 40.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.82) earnings per share. Hewlett Packard Enterprise has set its FY 2026 guidance at 3.350-3.450 EPS and its Q3 2026 guidance at 0.880-0.930 EPS. As a group, research analysts forecast that Hewlett Packard Enterprise Company will post 2.88 earnings per share for the current year.

Hewlett Packard Enterprise Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 16th will be given a dividend of $0.1425 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $0.57 dividend on an annualized basis and a yield of 1.2%. Hewlett Packard Enterprise's payout ratio is currently 53.27%.

Insider Activity at Hewlett Packard Enterprise

In other news, EVP Fidelma Russo sold 17,001 shares of the firm's stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $27.97, for a total value of $475,517.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bethany Mayer sold 6,482 shares of Hewlett Packard Enterprise stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $29.10, for a total value of $188,626.20. Following the sale, the director directly owned 8,018 shares of the company's stock, valued at $233,323.80. This trade represents a 44.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 310,102 shares of company stock worth $9,013,662 in the last quarter. 0.44% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HPE. UBS Group upped their price target on Hewlett Packard Enterprise from $25.00 to $65.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 2nd. Wells Fargo & Company raised their price objective on Hewlett Packard Enterprise from $26.00 to $67.00 and gave the stock an "equal weight" rating in a research report on Tuesday, June 2nd. Truist Financial restated a "buy" rating and set a $69.00 target price (up from $31.00) on shares of Hewlett Packard Enterprise in a research note on Tuesday, June 2nd. Susquehanna upped their target price on Hewlett Packard Enterprise from $21.00 to $65.00 and gave the company a "neutral" rating in a research report on Tuesday, June 2nd. Finally, Wall Street Zen upgraded Hewlett Packard Enterprise from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.65.

Hewlett Packard Enterprise Profile

Hewlett Packard Enterprise (HPE) is an enterprise technology company that designs, develops and sells IT infrastructure, software and services for business and government customers. Its core offerings span servers, storage, networking, and related software, together with consulting, integration and support services aimed at modernizing and managing enterprise IT environments. HPE's product portfolio includes systems for traditional data centers as well as solutions for high-performance computing, edge computing and telecommunications infrastructure.

A major focus for HPE is hybrid cloud and consumption-based IT.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.