Meyer Handelman Co. decreased its holdings in shares of Hewlett Packard Enterprise Co (NYSE:HPE) by 25.6% in the 4th quarter, Holdings Channel reports. The firm owned 364,014 shares of the technology company’s stock after selling 125,000 shares during the quarter. Meyer Handelman Co.’s holdings in Hewlett Packard Enterprise were worth $5,227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also added to or reduced their stakes in HPE. WFG Advisors LP increased its stake in Hewlett Packard Enterprise by 15.3% during the second quarter. WFG Advisors LP now owns 6,043 shares of the technology company’s stock valued at $100,000 after purchasing an additional 801 shares during the last quarter. Archford Capital Strategies LLC increased its stake in Hewlett Packard Enterprise by 6,858.7% during the second quarter. Archford Capital Strategies LLC now owns 7,585 shares of the technology company’s stock valued at $101,000 after purchasing an additional 7,476 shares during the last quarter. FormulaFolio Investments LLC bought a new stake in Hewlett Packard Enterprise during the third quarter valued at $148,000. BB&T Securities LLC bought a new stake in Hewlett Packard Enterprise during the third quarter valued at $156,000. Finally, Daiwa SB Investments Ltd. bought a new stake in Hewlett Packard Enterprise during the fourth quarter valued at $156,000. Hedge funds and other institutional investors own 83.78% of the company’s stock.
In related news, EVP Alan Richard May sold 42,314 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $14.00, for a total value of $592,396.00. Following the completion of the transaction, the executive vice president now owns 84,629 shares in the company, valued at approximately $1,184,806. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Margaret C. Whitman sold 242,165 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $15.27, for a total transaction of $3,697,859.55. Following the completion of the transaction, the director now owns 1,705,823 shares of the company’s stock, valued at approximately $26,047,917.21. The disclosure for this sale can be found here. Insiders sold a total of 1,407,123 shares of company stock valued at $22,389,810 in the last quarter. 0.87% of the stock is currently owned by insiders.
Hewlett Packard Enterprise (NYSE:HPE) last announced its earnings results on Tuesday, November 21st. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.03. The firm had revenue of $7.66 billion during the quarter, compared to analyst estimates of $7.78 billion. Hewlett Packard Enterprise had a net margin of 0.93% and a return on equity of 7.70%. Hewlett Packard Enterprise’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.61 EPS. equities analysts forecast that Hewlett Packard Enterprise Co will post 1.19 earnings per share for the current fiscal year.
Hewlett Packard Enterprise announced that its Board of Directors has authorized a share buyback plan on Wednesday, October 18th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the technology company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 4th. Investors of record on Wednesday, March 14th will be given a $0.075 dividend. The ex-dividend date is Tuesday, March 13th. This represents a $0.30 dividend on an annualized basis and a yield of 1.96%. Hewlett Packard Enterprise’s dividend payout ratio is presently 142.86%.
Several analysts have weighed in on HPE shares. TheStreet upgraded shares of Hewlett Packard Enterprise from a “c” rating to a “b-” rating in a research note on Monday, October 16th. Oppenheimer reiterated a “buy” rating and set a $17.00 target price on shares of Hewlett Packard Enterprise in a research note on Wednesday, November 22nd. Gabelli reiterated a “buy” rating on shares of Hewlett Packard Enterprise in a research note on Wednesday, November 22nd. Sanford C. Bernstein reiterated a “buy” rating and set a $18.00 target price on shares of Hewlett Packard Enterprise in a research note on Wednesday, November 22nd. Finally, Deutsche Bank boosted their target price on shares of Hewlett Packard Enterprise from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Three investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $16.16.
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Hewlett Packard Enterprise Company 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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