Tang Capital Management LLC Takes Position in Hewlett Packard Enterprise (NYSE:HPE)

Tang Capital Management LLC acquired a new position in shares of Hewlett Packard Enterprise (NYSE:HPE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 46,391 shares of the technology company's stock, valued at approximately $990,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Toronto Dominion Bank raised its stake in Hewlett Packard Enterprise by 1.0% during the fourth quarter. Toronto Dominion Bank now owns 695,269 shares of the technology company's stock worth $14,844,000 after acquiring an additional 6,566 shares during the period. Rafferty Asset Management LLC raised its stake in Hewlett Packard Enterprise by 2.0% during the fourth quarter. Rafferty Asset Management LLC now owns 451,670 shares of the technology company's stock worth $9,643,000 after acquiring an additional 9,037 shares during the period. Raiffeisen Bank International AG acquired a new stake in Hewlett Packard Enterprise during the fourth quarter worth about $1,279,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Hewlett Packard Enterprise during the fourth quarter worth about $4,343,000. Finally, Point72 Hong Kong Ltd raised its stake in Hewlett Packard Enterprise by 102.5% during the fourth quarter. Point72 Hong Kong Ltd now owns 237,300 shares of the technology company's stock worth $5,066,000 after acquiring an additional 120,143 shares during the period. Institutional investors and hedge funds own 80.78% of the company's stock.

Insider Buying and Selling

In related news, Director Bethany Mayer sold 6,409 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $13.19, for a total transaction of $84,534.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.36% of the stock is currently owned by insiders.

Analyst Ratings Changes

HPE has been the topic of several research reports. StockNews.com lowered shares of Hewlett Packard Enterprise from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Wells Fargo & Company dropped their price target on shares of Hewlett Packard Enterprise from $22.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Friday, March 7th. Loop Capital dropped their price target on shares of Hewlett Packard Enterprise from $24.00 to $16.00 and set a "hold" rating on the stock in a research note on Monday, March 10th. Evercore ISI upgraded shares of Hewlett Packard Enterprise from an "in-line" rating to an "outperform" rating and raised their price target for the company from $17.00 to $22.00 in a research note on Tuesday. Finally, Daiwa America lowered shares of Hewlett Packard Enterprise from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 12th. Nine equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Hewlett Packard Enterprise presently has an average rating of "Moderate Buy" and a consensus target price of $21.13.

Hewlett Packard Enterprise Price Performance

Shares of NYSE HPE traded up $0.24 during mid-day trading on Tuesday, reaching $17.70. 16,292,220 shares of the company traded hands, compared to its average volume of 17,278,141. Hewlett Packard Enterprise has a fifty-two week low of $11.97 and a fifty-two week high of $24.66. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.29 and a quick ratio of 0.99. The firm has a market cap of $23.25 billion, a PE ratio of 9.32, a price-to-earnings-growth ratio of 2.03 and a beta of 1.29. The stock has a fifty day simple moving average of $15.76 and a 200-day simple moving average of $19.35.

Hewlett Packard Enterprise Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 18th. Investors of record on Friday, March 21st were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Friday, March 21st. Hewlett Packard Enterprise's payout ratio is 25.37%.

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.