State of Michigan Retirement System Sells 28,600 Shares of Hewlett Packard Enterprise Company $HPE

State of Michigan Retirement System decreased its stake in shares of Hewlett Packard Enterprise Company (NYSE:HPE) by 5.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 492,281 shares of the technology company’s stock after selling 28,600 shares during the period. State of Michigan Retirement System’s holdings in Hewlett Packard Enterprise were worth $11,825,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HPE. Jericho Capital Asset Management L.P. acquired a new stake in shares of Hewlett Packard Enterprise in the third quarter valued at approximately $416,900,000. Holocene Advisors LP acquired a new position in Hewlett Packard Enterprise during the 3rd quarter worth $144,468,000. Arrowstreet Capital Limited Partnership lifted its holdings in Hewlett Packard Enterprise by 475.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 3,551,715 shares of the technology company’s stock worth $87,230,000 after buying an additional 2,933,972 shares in the last quarter. Ceredex Value Advisors LLC acquired a new position in Hewlett Packard Enterprise during the 3rd quarter worth $66,664,000. Finally, Analog Century Management LP acquired a new position in Hewlett Packard Enterprise during the 3rd quarter worth $61,449,000. Institutional investors and hedge funds own 80.78% of the company’s stock.

Insiders Place Their Bets

In other Hewlett Packard Enterprise news, EVP Neil B. Macdonald sold 112,652 shares of the company’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $25.09, for a total transaction of $2,826,438.68. Following the completion of the transaction, the executive vice president owned 56,494 shares of the company’s stock, valued at $1,417,434.46. This represents a 66.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Antonio F. Neri sold 264,432 shares of the company’s stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $25.18, for a total value of $6,658,397.76. Following the transaction, the chief executive officer directly owned 1,837,329 shares of the company’s stock, valued at approximately $46,263,944.22. This trade represents a 12.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 602,337 shares of company stock valued at $15,443,119 in the last quarter. 0.44% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Raymond James Financial reaffirmed an “outperform” rating and set a $29.00 price objective (down from $30.00) on shares of Hewlett Packard Enterprise in a report on Monday, April 13th. Morgan Stanley upped their price objective on Hewlett Packard Enterprise from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 10th. Truist Financial started coverage on Hewlett Packard Enterprise in a report on Tuesday, March 31st. They set a “buy” rating and a $31.00 price objective for the company. Bank of America boosted their price objective on Hewlett Packard Enterprise from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, March 10th. Finally, Wall Street Zen cut Hewlett Packard Enterprise from a “buy” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.71.

Hewlett Packard Enterprise Trading Down 2.4%

NYSE:HPE opened at $27.95 on Wednesday. Hewlett Packard Enterprise Company has a twelve month low of $15.71 and a twelve month high of $29.63. The company has a quick ratio of 0.75, a current ratio of 1.03 and a debt-to-equity ratio of 0.71. The business has a 50 day moving average price of $23.60 and a two-hundred day moving average price of $23.19. The company has a market cap of $37.08 billion, a P/E ratio of -147.09, a price-to-earnings-growth ratio of 0.74 and a beta of 1.20.

Hewlett Packard Enterprise (NYSE:HPE) last released its quarterly earnings results on Monday, March 9th. The technology company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.06. Hewlett Packard Enterprise had a positive return on equity of 9.93% and a negative net margin of 0.41%.The firm had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $9.31 billion. During the same quarter in the prior year, the firm posted $0.49 EPS. The business’s revenue was up 18.4% on a year-over-year basis. Hewlett Packard Enterprise has set its FY 2026 guidance at 2.300-2.500 EPS and its Q2 2026 guidance at 0.510-0.550 EPS. As a group, analysts expect that Hewlett Packard Enterprise Company will post 1.96 EPS for the current fiscal year.

Hewlett Packard Enterprise Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 23rd. Shareholders of record on Tuesday, March 24th were given a dividend of $0.1425 per share. The ex-dividend date of this dividend was Tuesday, March 24th. This represents a $0.57 dividend on an annualized basis and a yield of 2.0%. Hewlett Packard Enterprise’s dividend payout ratio is -300.00%.

About Hewlett Packard Enterprise

Hewlett Packard Enterprise (HPE) is an enterprise technology company that designs, develops and sells IT infrastructure, software and services for business and government customers. Its core offerings span servers, storage, networking, and related software, together with consulting, integration and support services aimed at modernizing and managing enterprise IT environments. HPE’s product portfolio includes systems for traditional data centers as well as solutions for high-performance computing, edge computing and telecommunications infrastructure.

A major focus for HPE is hybrid cloud and consumption-based IT.