Pinebridge Investments L.P. Sells 957,783 Shares of Hewlett Packard Enterprise (NYSE:HPE)

Pinebridge Investments L.P. trimmed its position in Hewlett Packard Enterprise (NYSE:HPE - Free Report) by 97.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,795 shares of the technology company's stock after selling 957,783 shares during the quarter. Pinebridge Investments L.P.'s holdings in Hewlett Packard Enterprise were worth $593,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Hara Capital LLC acquired a new stake in shares of Hewlett Packard Enterprise in the fourth quarter valued at $28,000. Tandem Financial LLC purchased a new position in shares of Hewlett Packard Enterprise in the 4th quarter valued at approximately $32,000. Conquis Financial LLC purchased a new position in shares of Hewlett Packard Enterprise in the 4th quarter valued at about $41,000. R Squared Ltd purchased a new stake in Hewlett Packard Enterprise during the 4th quarter worth about $45,000. Finally, Tompkins Financial Corp grew its stake in shares of Hewlett Packard Enterprise by 397.9% during the 4th quarter. Tompkins Financial Corp now owns 2,878 shares of the technology company's stock valued at $61,000 after buying an additional 2,300 shares during the period. 80.78% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on HPE. StockNews.com downgraded shares of Hewlett Packard Enterprise from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Morgan Stanley lowered Hewlett Packard Enterprise from an "overweight" rating to an "equal weight" rating and set a $14.00 target price on the stock. in a research report on Tuesday, April 8th. Daiwa Capital Markets downgraded Hewlett Packard Enterprise from an "outperform" rating to a "neutral" rating and set a $16.00 price target on the stock. in a report on Wednesday, March 12th. Loop Capital lowered their price target on 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. Finally, Daiwa America cut Hewlett Packard Enterprise from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 12th. Ten analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $20.60.

Insider Buying and Selling at Hewlett Packard Enterprise

In other Hewlett Packard Enterprise news, Director Bethany Mayer sold 6,409 shares of Hewlett Packard Enterprise stock in a transaction on Friday, April 4th. The stock was 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 is accessible through this hyperlink. 0.36% of the stock is currently owned by corporate insiders.

Hewlett Packard Enterprise Stock Performance

Shares of NYSE:HPE traded up $0.24 during midday trading on Thursday, reaching $16.46. 14,716,288 shares of the company traded hands, compared to its average volume of 16,994,399. Hewlett Packard Enterprise has a 12 month low of $11.97 and a 12 month high of $24.66. The firm has a market capitalization of $21.62 billion, a price-to-earnings ratio of 8.66, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. The company has a quick ratio of 0.99, a current ratio of 1.29 and a debt-to-equity ratio of 0.54. The firm's fifty day moving average price is $15.99 and its two-hundred day moving average price is $19.63.

Hewlett Packard Enterprise Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 18th. Shareholders of record on Friday, March 21st were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Friday, March 21st. Hewlett Packard Enterprise's payout ratio is 25.37%.

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.