Investors Sell Hewlett Packard Enterprise Co. (HPE) on Strength Following Analyst Downgrade
Investors sold shares of Hewlett Packard Enterprise Co. (NYSE:HPE) on strength during trading hours on Monday after Vetr downgraded the stock from a strong-buy rating to a buy rating. $45.11 million flowed into the stock on the tick-up and $80.68 million flowed out of the stock on the tick-down, for a money net flow of $35.57 million out of the stock. Of all equities tracked, Hewlett Packard Enterprise had the 0th highest net out-flow for the day. Hewlett Packard Enterprise traded up $0.12 for the day and closed at $23.34
HPE has been the topic of several other reports. Susquehanna set a $20.00 target price on Hewlett Packard Enterprise and gave the company a “hold” rating in a research report on Thursday, November 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $24.00 price target (up from $22.00) on shares of Hewlett Packard Enterprise in a report on Thursday, September 8th. Robert W. Baird reaffirmed a “hold” rating and issued a $24.00 price target (up from $23.00) on shares of Hewlett Packard Enterprise in a report on Wednesday, November 23rd. Raymond James Financial Inc. raised shares of Hewlett Packard Enterprise from a “market perform” rating to an “outperform” rating and upped their price target for the company from $23.60 to $29.00 in a report on Friday, November 18th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $24.50 price target on shares of Hewlett Packard Enterprise in a report on Tuesday, September 20th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $22.83.
In other news, Director Ann M. Livermore sold 44,000 shares of the firm’s stock in a transaction that occurred on 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 is accessible through this link. Also, CFO Timothy C. Stonesifer sold 101,610 shares of the firm’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $22.01, for a total transaction of $2,236,436.10. Following the sale, the chief financial officer now owns 101,610 shares of the company’s stock, valued at approximately $2,236,436.10. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Seven Eight Capital LLC purchased a new stake in shares of Hewlett Packard Enterprise during the first quarter worth about $305,000. Ladenburg Thalmann Financial Services Inc. boosted its position in Hewlett Packard Enterprise by 8.5% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 55,270 shares of the company’s stock worth $985,000 after buying an additional 4,307 shares during the last quarter. First Republic Investment Management Inc. boosted its position in Hewlett Packard Enterprise by 10.8% in the first quarter. First Republic Investment Management Inc. now owns 89,664 shares of the company’s stock worth $1,589,000 after buying an additional 8,705 shares during the last quarter. Summit Financial Wealth Advisors LLC bought a new position in Hewlett Packard Enterprise during the second quarter worth $240,000. Finally, Fulton Bank N.A. bought a new position in Hewlett Packard Enterprise during the second quarter worth $217,000. Institutional investors and hedge funds own 78.37% of the company’s stock.
The firm has a 50-day moving average price of $22.48 and a 200-day moving average price of $20.79. The company has a market capitalization of $39.54 billion and a PE ratio of 9.90.
Hewlett Packard Enterprise (NYSE:HPE) last released its quarterly earnings data on Tuesday, November 22nd. The company reported $0.61 EPS for the quarter, hitting analysts’ consensus estimates of $0.61. The firm had revenue of $12.50 billion for the quarter, compared to the consensus estimate of $12.85 billion. Hewlett Packard Enterprise had a net margin of 6.31% and a return on equity of 10.38%. The firm’s revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 earnings per share. Equities analysts expect that Hewlett Packard Enterprise Co. will post $2.06 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Investors of record on Wednesday, December 14th will be issued a dividend of $0.065 per share. The ex-dividend date is Monday, December 12th. This represents a $0.26 dividend on an annualized basis and a yield of 1.10%. This is an increase from Hewlett Packard Enterprise’s previous quarterly dividend of $0.06. Hewlett Packard Enterprise’s payout ratio is currently 12.02%.
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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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