Swedbank AB Cuts Stake in Hewlett Packard Enterprise Company $HPE

Key Points

• Swedbank AB reduced its stake in Hewlett Packard Enterprise by 33.3% in Q1, now owning 631,988 shares worth approximately $9.75 million.
• The company recently announced a quarterly dividend of $0.13 per share, with an annualized dividend of $0.52, reflecting a yield of 2.1%.
• Hewlett Packard Enterprise has received mixed analyst ratings, with upgrades including a move from "equal weight" to "overweight" by Morgan Stanley and a price target increase to $28.00.

Swedbank AB cut its holdings in shares of Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) by 33.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 631,988 shares of the technology company's stock after selling 315,742 shares during the period. Swedbank AB's holdings in Hewlett Packard Enterprise were worth $9,752,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. acquired a new stake in Hewlett Packard Enterprise in the fourth quarter worth about $201,000. Nomura Holdings Inc. boosted its stake in Hewlett Packard Enterprise by 106.2% in the 4th quarter. Nomura Holdings Inc. now owns 45,853 shares of the technology company's stock worth $979,000 after purchasing an additional 786,399 shares in the last quarter. ProShare Advisors LLC grew its position in Hewlett Packard Enterprise by 10.4% during the 4th quarter. ProShare Advisors LLC now owns 260,170 shares of the technology company's stock worth $5,555,000 after purchasing an additional 24,560 shares during the last quarter. Toronto Dominion Bank raised its holdings in shares of Hewlett Packard Enterprise by 1.0% in the fourth quarter. Toronto Dominion Bank now owns 695,269 shares of the technology company's stock worth $14,844,000 after buying an additional 6,566 shares during the last quarter. Finally, State of Wyoming lifted its stake in shares of Hewlett Packard Enterprise by 37.2% during the fourth quarter. State of Wyoming now owns 6,404 shares of the technology company's stock worth $137,000 after buying an additional 1,738 shares during the period. 80.78% of the stock is currently owned by hedge funds and other institutional investors.

Hewlett Packard Enterprise Price Performance

Shares of NYSE HPE opened at $24.81 on Tuesday. The firm has a 50-day simple moving average of $21.67 and a 200-day simple moving average of $18.53. The company has a quick ratio of 0.69, a current ratio of 0.95 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $32.74 billion, a price-to-earnings ratio of 30.26, a price-to-earnings-growth ratio of 2.54 and a beta of 1.43. Hewlett Packard Enterprise Company has a 52 week low of $11.97 and a 52 week high of $25.10.

Hewlett Packard Enterprise Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 17th. Stockholders of record on Thursday, September 18th will be issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend 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 Activity

In related news, EVP Phil Mottram sold 30,000 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 42,427 shares of the company's stock, valued at approximately $871,450.58. This trade represents a 41.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jeremy Cox sold 68,590 shares of the business's stock in a transaction on Friday, June 27th. The stock was 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 sold 461,924 shares of company stock worth $10,110,183 over the last ninety days. Corporate insiders own 0.36% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on HPE shares. Wall Street Zen raised Hewlett Packard Enterprise from a "sell" rating to a "hold" rating in a research report on Sunday, July 13th. Susquehanna raised their price objective on Hewlett Packard Enterprise from $16.00 to $21.00 and gave the stock a "neutral" rating in a research note on Thursday, September 4th. Wolfe Research started coverage on Hewlett Packard Enterprise in a research report on Tuesday, July 8th. They issued a "peer perform" rating on the stock. Morgan Stanley upgraded shares of Hewlett Packard Enterprise from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $22.00 to $28.00 in a report on Thursday, August 21st. Finally, Barclays upped their price objective on shares of Hewlett Packard Enterprise from $24.00 to $26.00 and gave the company an "overweight" rating in a report on Thursday, July 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $24.87.

Hewlett Packard Enterprise Company 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.

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