Hewlett Packard Enterprise Co. (NYSE:HPE) shares saw unusually-high trading volume on Wednesday after Needham & Company raised their price target on the stock from $24.00 to $26.00. Needham & Company currently has a buy rating on the stock. Approximately 10,960,825 shares traded hands during trading, an increase of 7% from the previous session’s volume of 10,269,675 shares.The stock last traded at $21.65 and had previously closed at $21.47.
A number of other equities research analysts also recently commented on the company. Wells Fargo & Co. reiterated a “buy” rating on shares of Hewlett Packard Enterprise in a research report on Monday, July 11th. Credit Suisse Group AG increased their price objective on Hewlett Packard Enterprise from $21.00 to $25.00 and gave the company an “outperform” rating in a research report on Monday, August 1st. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $25.00 price objective on shares of Hewlett Packard Enterprise in a research report on Sunday. Vetr upgraded Hewlett Packard Enterprise from a “buy” rating to a “strong-buy” rating and set a $25.52 price objective for the company in a research report on Thursday, August 18th. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Hewlett Packard Enterprise in a research report on Sunday, July 10th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $21.68.
In related news, COO Christopher P. Hsu sold 31,193 shares of the stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $22.01, for a total value of $686,557.93. Following the completion of the sale, the chief operating officer now owns 31,192 shares in the company, valued at $686,535.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Antonio F. Neri sold 11,781 shares of the stock in a transaction dated Friday, October 7th. The shares were sold at an average price of $22.68, for a total transaction of $267,193.08. Following the completion of the sale, the executive vice president now owns 4,936 shares of the company’s stock, valued at approximately $111,948.48. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in Hewlett Packard Enterprise during the second quarter valued at $100,000. MCF Advisors LLC boosted its stake in Hewlett Packard Enterprise by 79.7% in the second quarter. MCF Advisors LLC now owns 5,640 shares of the company’s stock valued at $103,000 after buying an additional 2,501 shares during the last quarter. Citizens Financial Group Inc RI boosted its stake in Hewlett Packard Enterprise by 22.6% in the first quarter. Citizens Financial Group Inc RI now owns 5,809 shares of the company’s stock valued at $103,000 after buying an additional 1,069 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its stake in Hewlett Packard Enterprise by 308.9% in the third quarter. Independent Portfolio Consultants Inc. now owns 6,665 shares of the company’s stock valued at $152,000 after buying an additional 5,035 shares during the last quarter. Finally, Ropes Wealth Advisors LLC boosted its stake in Hewlett Packard Enterprise by 2.5% in the second quarter. Ropes Wealth Advisors LLC now owns 7,977 shares of the company’s stock valued at $146,000 after buying an additional 195 shares during the last quarter. Institutional investors and hedge funds own 80.50% of the company’s stock.
The company has a market capitalization of $36.06 billion and a price-to-earnings ratio of 9.03. The firm’s 50 day moving average is $22.18 and its 200-day moving average is $19.62.
Hewlett Packard Enterprise (NYSE:HPE) last issued its quarterly earnings results on Wednesday, September 7th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.45 by $0.04. Hewlett Packard Enterprise had a net margin of 8.31% and a return on equity of 10.15%. The firm had revenue of $12.20 billion for the quarter, compared to analysts’ expectations of $12.64 billion. Hewlett Packard Enterprise’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, equities analysts forecast that Hewlett Packard Enterprise Co. will post $1.92 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Wednesday, October 12th will be given a dividend of $0.055 per share. The ex-dividend date is Friday, October 7th. This represents a $0.22 annualized dividend and a yield of 1.02%. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is presently 9.17%.
About Hewlett Packard Enterprise
Hewlett Packard Enterprise Company is a provider of technology solutions. The Company operates through five segments: Enterprise Group, Software, Enterprise Services, Financial Services and Corporate Investments. The Enterprise Group segment provides its customers with the technology infrastructure they need to optimize traditional information technology (IT).
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