Hewlett Packard Enterprise Co (HPE) Stake Lowered by Franklin Resources Inc.
Franklin Resources Inc. decreased its holdings in shares of Hewlett Packard Enterprise Co (NYSE:HPE) by 1.1% in the 4th quarter, HoldingsChannel reports. The firm owned 22,270,204 shares of the technology company’s stock after selling 242,486 shares during the period. Franklin Resources Inc.’s holdings in Hewlett Packard Enterprise were worth $319,803,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Newman Dignan & Sheerar Inc. purchased a new position in shares of Hewlett Packard Enterprise during the fourth quarter worth about $207,000. BB&T Securities LLC purchased a new position in shares of Hewlett Packard Enterprise during the third quarter worth about $156,000. Daiwa SB Investments Ltd. purchased a new position in shares of Hewlett Packard Enterprise during the fourth quarter worth about $156,000. Clear Harbor Asset Management LLC purchased a new position in shares of Hewlett Packard Enterprise during the fourth quarter worth about $158,000. Finally, Empirical Financial Services LLC purchased a new position in shares of Hewlett Packard Enterprise during the fourth quarter worth about $159,000. 81.84% of the stock is owned by institutional investors.
Shares of Hewlett Packard Enterprise Co (NYSE:HPE) opened at $19.16 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 0.93. Hewlett Packard Enterprise Co has a 12-month low of $12.81 and a 12-month high of $19.48. The firm has a market capitalization of $30,420.00 and a P/E ratio of -191.60.
Hewlett Packard Enterprise declared that its board has initiated a stock buyback plan on Thursday, February 22nd that allows the company to buyback $5.50 billion in outstanding shares. This buyback authorization allows the technology company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 4th. Shareholders of record on Wednesday, March 14th will be given a $0.075 dividend. The ex-dividend date of this dividend is Tuesday, March 13th. This represents a $0.30 annualized dividend and a yield of 1.57%. Hewlett Packard Enterprise’s payout ratio is currently -300.00%.
In other news, CFO Timothy C. Stonesifer sold 161,858 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $18.30, for a total transaction of $2,962,001.40. Following the transaction, the chief financial officer now directly owns 158,726 shares of the company’s stock, valued at $2,904,685.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Alan Richard May sold 7,607 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $14.42, for a total value of $109,692.94. Following the transaction, the executive vice president now directly owns 100,079 shares in the company, valued at $1,443,139.18. The disclosure for this sale can be found here. Insiders sold 2,217,072 shares of company stock valued at $37,963,432 in the last quarter. Corporate insiders own 1.18% of the company’s stock.
Several research analysts have recently commented on HPE shares. Loop Capital raised Hewlett Packard Enterprise from a “hold” rating to a “buy” rating in a report on Tuesday, February 20th. UBS Group reissued a “hold” rating and set a $15.00 price objective on shares of Hewlett Packard Enterprise in a report on Wednesday, November 22nd. Royal Bank of Canada reissued a “hold” rating on shares of Hewlett Packard Enterprise in a report on Wednesday, November 22nd. Robert W. Baird restated a “hold” rating and issued a $15.00 target price on shares of Hewlett Packard Enterprise in a research report on Wednesday, November 22nd. Finally, Oppenheimer restated a “buy” rating and issued a $17.00 target price on shares of Hewlett Packard Enterprise in a research report on Wednesday, November 22nd. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Hewlett Packard Enterprise has an average rating of “Hold” and an average price target of $17.46.
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Hewlett Packard Enterprise Profile
Hewlett Packard Enterprise Company is a provider of technology solutions. The Company’s segments include: Enterprise Group, Software, 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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