Zurcher Kantonalbank Zurich Cantonalbank Sells 413,953 Shares of Hewlett Packard Enterprise Company (NYSE:HPE)

Key Points

• Zurcher Kantonalbank reduced its stake in Hewlett Packard Enterprise Company by 22.5%, selling 413,953 shares in the first quarter, leaving it with approximately 1.42 million shares valued at about $21.99 million.
• Analysts have projected growth for Hewlett Packard Enterprise, with price targets ranging from $18.00 to $30.00 and an average rating of "Moderate Buy."
• Hewlett Packard Enterprise's latest earnings report showed earnings per share of $0.38, exceeding estimates, with revenue of $7.63 billion, marking a 5.9% increase year-over-year.

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of Hewlett Packard Enterprise Company (NYSE:HPE - Free Report) by 22.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,424,833 shares of the technology company's stock after selling 413,953 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.11% of Hewlett Packard Enterprise worth $21,985,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of HPE. Empirical Finance LLC boosted its position in shares of Hewlett Packard Enterprise by 3.0% in the first quarter. Empirical Finance LLC now owns 45,278 shares of the technology company's stock worth $699,000 after buying an additional 1,327 shares during the period. HB Wealth Management LLC boosted its position in shares of Hewlett Packard Enterprise by 28.5% in the first quarter. HB Wealth Management LLC now owns 115,062 shares of the technology company's stock worth $1,775,000 after buying an additional 25,502 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Hewlett Packard Enterprise by 4.2% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 414,262 shares of the technology company's stock worth $6,392,000 after buying an additional 16,824 shares during the period. Freemont Management S.A. acquired a new stake in shares of Hewlett Packard Enterprise in the first quarter worth $1,412,000. Finally, Cetera Investment Advisers raised its holdings in shares of Hewlett Packard Enterprise by 14.8% during the first quarter. Cetera Investment Advisers now owns 178,470 shares of the technology company's stock worth $2,754,000 after acquiring an additional 23,016 shares in the last quarter. 80.78% of the stock is owned by institutional investors.

Hewlett Packard Enterprise Stock Performance

HPE stock traded down $0.91 during trading on Friday, reaching $19.79. 6,788,932 shares of the stock were exchanged, compared to its average volume of 19,063,088. Hewlett Packard Enterprise Company has a twelve month low of $11.97 and a twelve month high of $24.66. The company has a market capitalization of $25.96 billion, a P/E ratio of 20.02, a price-to-earnings-growth ratio of 2.29 and a beta of 1.35. The stock has a 50 day simple moving average of $19.30 and a 200-day simple moving average of $18.49. 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 (NYSE:HPE - Get Free Report) last released its earnings results on Tuesday, June 3rd. The technology company reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.05. Hewlett Packard Enterprise had a return on equity of 9.59% and a net margin of 4.60%. The business had revenue of $7.63 billion for the quarter, compared to the consensus estimate of $7.51 billion. During the same period last year, the business earned $0.42 earnings per share. The firm's revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hewlett Packard Enterprise Company will post 1.85 earnings per share for the current year.

Hewlett Packard Enterprise Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 17th. Shareholders of record on Wednesday, June 18th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Wednesday, June 18th. Hewlett Packard Enterprise's payout ratio is presently 52.53%.

Insider Buying and Selling

In other Hewlett Packard Enterprise news, SVP Jeremy Cox sold 68,590 shares of Hewlett Packard Enterprise stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $18.44, for a total transaction of $1,264,799.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Phil Mottram sold 30,000 shares of Hewlett Packard Enterprise stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $20.54, for a total transaction of $616,200.00. Following the completion of the transaction, the executive vice president owned 42,427 shares of the company's stock, valued at $871,450.58. This trade represents a 41.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 128,590 shares of company stock worth $2,436,000 over the last ninety days. Company insiders own 0.36% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on HPE shares. Citigroup started coverage on Hewlett Packard Enterprise in a report on Friday, July 25th. They set a "buy" rating and a $25.00 price objective for the company. Raymond James Financial increased their price objective on Hewlett Packard Enterprise from $23.00 to $26.00 and gave the stock a "strong-buy" rating in a report on Wednesday, June 4th. Morgan Stanley increased their price objective on Hewlett Packard Enterprise from $14.00 to $22.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 20th. Wolfe Research started coverage on Hewlett Packard Enterprise in a report on Tuesday, July 8th. They set a "peer perform" rating for the company. Finally, KeyCorp started coverage on Hewlett Packard Enterprise in a report on Thursday, June 26th. They set a "sector weight" rating on the stock. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Hewlett Packard Enterprise currently has an average rating of "Moderate Buy" and a consensus target price of $22.67.

Hewlett Packard Enterprise 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.