M&G Plc Trims Stock Position in Hewlett Packard Enterprise (NYSE:HPE)

M&G Plc trimmed its holdings in shares of Hewlett Packard Enterprise (NYSE:HPE) by 7.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,549 shares of the technology company’s stock after selling 4,845 shares during the period. M&G Plc’s holdings in Hewlett Packard Enterprise were worth $1,211,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of HPE. Concurrent Investment Advisors LLC grew its holdings in Hewlett Packard Enterprise by 148.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 76,745 shares of the technology company’s stock valued at $1,570,000 after buying an additional 45,807 shares during the last quarter. Maia Wealth LLC purchased a new stake in shares of Hewlett Packard Enterprise in the third quarter valued at $123,000. Radnor Capital Management LLC boosted its stake in shares of Hewlett Packard Enterprise by 0.9% during the third quarter. Radnor Capital Management LLC now owns 145,838 shares of the technology company’s stock valued at $2,984,000 after acquiring an additional 1,300 shares during the last quarter. Long Run Wealth Advisors LLC increased its position in Hewlett Packard Enterprise by 4.7% during the 3rd quarter. Long Run Wealth Advisors LLC now owns 67,201 shares of the technology company’s stock worth $1,375,000 after purchasing an additional 3,011 shares in the last quarter. Finally, Sentry Investment Management LLC acquired a new position in Hewlett Packard Enterprise in the 3rd quarter valued at about $127,000. 80.78% of the stock is currently owned by institutional investors and hedge funds.

Hewlett Packard Enterprise Stock Performance

Hewlett Packard Enterprise stock opened at $22.04 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.94 and a quick ratio of 0.62. Hewlett Packard Enterprise has a 12 month low of $14.47 and a 12 month high of $22.82. The company has a market cap of $28.62 billion, a price-to-earnings ratio of 15.74, a price-to-earnings-growth ratio of 3.67 and a beta of 1.19. The stock’s 50-day moving average is $19.56 and its 200-day moving average is $19.27.

Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. Hewlett Packard Enterprise had a net margin of 6.39% and a return on equity of 8.94%. The firm had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.67 billion. During the same period in the previous year, the company posted $0.35 earnings per share. Hewlett Packard Enterprise’s revenue was up 10.1% compared to the same quarter last year. Equities analysts anticipate that Hewlett Packard Enterprise will post 1.66 earnings per share for the current year.

Hewlett Packard Enterprise Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, September 19th were issued a $0.13 dividend. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.52 annualized dividend and a yield of 2.36%. Hewlett Packard Enterprise’s dividend payout ratio is currently 37.14%.

Wall Street Analyst Weigh In

Several research firms have issued reports on HPE. Bank of America raised shares of Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and raised their price target for the stock from $21.00 to $24.00 in a research note on Tuesday, September 17th. Citigroup started coverage on shares of Hewlett Packard Enterprise in a research report on Monday, September 23rd. They set a “neutral” rating and a $20.00 target price on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Hewlett Packard Enterprise in a research note on Wednesday, October 9th. They issued a “hold” rating and a $22.00 target price for the company. Loop Capital increased their price target on Hewlett Packard Enterprise from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Monday, September 9th. Finally, Susquehanna reaffirmed a “neutral” rating and issued a $20.00 price objective on shares of Hewlett Packard Enterprise in a research report on Friday, October 11th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $21.46.

Insider Buying and Selling at Hewlett Packard Enterprise

In other news, SVP Jeremy Cox sold 7,770 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $21.00, for a total value of $163,170.00. Following the completion of the sale, the senior vice president now owns 7,771 shares in the company, valued at approximately $163,191. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Neil B. Macdonald sold 29,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $17.00, for a total transaction of $493,000.00. Following the transaction, the executive vice president now directly owns 82,061 shares of the company’s stock, valued at approximately $1,395,037. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jeremy Cox sold 7,770 shares of the firm’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $21.00, for a total transaction of $163,170.00. Following the sale, the senior vice president now directly owns 7,771 shares of the company’s stock, valued at approximately $163,191. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 426,012 shares of company stock valued at $8,599,617 over the last three months. 0.40% of the stock is owned by company insiders.

Hewlett Packard Enterprise Company Profile

Hewlett Packard Enterprise Company provides solutions that allow customers to capture, analyze, and act upon data seamlessly in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. It operates in six segments: Compute, HPC & AI, Storage, Intelligent Edge, Financial Services, and Corporate Investments and Other.