Investors Buy Shares of Hewlett Packard Enterprise Co. (HPE) on Weakness Following Insider Selling
Traders purchased shares of Hewlett Packard Enterprise Co. (NYSE:HPE) on weakness during trading on Friday after an insider sold shares in the company. $81.62 million flowed into the stock on the tick-up and $42.66 million flowed out of the stock on the tick-down, for a money net flow of $38.96 million into the stock. Of all companies tracked, Hewlett Packard Enterprise had the 12th highest net in-flow for the day. Hewlett Packard Enterprise traded down ($0.15) for the day and closed at $22.75Specifically, Director Ann M. Livermore sold 44,000 shares of Hewlett Packard Enterprise stock in a transaction dated Wednesday, September 21st. The shares were sold at an average price of $22.65, for a total transaction of $996,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP John F. Schultz sold 316,164 shares of Hewlett Packard Enterprise stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $22.84, for a total transaction of $7,221,185.76. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.
A number of equities research analysts have recently commented on HPE shares. Bank of America Corp. reiterated a “hold” rating on shares of Hewlett Packard Enterprise in a report on Wednesday, June 8th. Wells Fargo & Co. restated a “buy” rating on shares of Hewlett Packard Enterprise in a report on Monday, July 11th. Mizuho boosted their target price on shares of Hewlett Packard Enterprise from $16.00 to $20.00 and gave the company a “neutral” rating in a report on Thursday, September 8th. Brean Capital restated a “hold” rating on shares of Hewlett Packard Enterprise in a report on Monday, June 6th. Finally, BMO Capital Markets restated a “buy” rating on shares of Hewlett Packard Enterprise in a report on Sunday, July 10th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $21.03.
The firm’s 50 day moving average is $22.09 and its 200-day moving average is $19.21. The firm has a market capitalization of $37.89 billion and a PE ratio of 9.49.
Hewlett Packard Enterprise (NYSE:HPE) last released its quarterly earnings results on Wednesday, September 7th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.04. The business had revenue of $12.20 billion for the quarter, compared to the consensus estimate of $12.64 billion. Hewlett Packard Enterprise had a net margin of 8.31% and a return on equity of 10.15%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. Equities research 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. Stockholders of record on Wednesday, October 12th will be issued a dividend of $0.055 per share. The ex-dividend date of this dividend is Friday, October 7th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.97%. Hewlett Packard Enterprise’s dividend payout ratio is currently 9.17%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. increased its position in Hewlett Packard Enterprise by 33.0% in the second quarter. Macquarie Group Ltd. now owns 885,324 shares of the company’s stock worth $16,175,000 after buying an additional 219,447 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Hewlett Packard Enterprise during the second quarter worth about $1,226,000. Kentucky Retirement Systems purchased a new position in Hewlett Packard Enterprise during the second quarter worth about $2,582,000. KAMES CAPITAL plc purchased a new position in Hewlett Packard Enterprise during the second quarter worth about $676,000. Finally, Mason Street Advisors LLC purchased a new position in Hewlett Packard Enterprise during the second quarter worth about $4,089,000. Institutional investors and hedge funds own 80.51% of the company’s stock.
About Hewlett Packard Enterprise
Hewlett Packard Enterprise Company (Hewlett Packard Enterprise) is engaged in offering information technology (IT) and enterprise services solutions. The Company focuses on technology solutions, which enables the customers to build cloud-enabled, mobile-ready solutions that is suited to their needs. The Company’s portfolio includes enterprise services, software and financial services businesses.
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