Prudential PLC Lowers Stock Holdings in Hewlett Packard Enterprise (NYSE:HPE)

Prudential PLC lessened its stake in Hewlett Packard Enterprise (NYSE:HPE) by 66.4% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 83,272 shares of the technology company’s stock after selling 164,373 shares during the period. Prudential PLC’s holdings in Hewlett Packard Enterprise were worth $1,763,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Capital Investment Counsel Inc increased its holdings in shares of Hewlett Packard Enterprise by 1.2% in the second quarter. Capital Investment Counsel Inc now owns 41,269 shares of the technology company’s stock valued at $874,000 after purchasing an additional 500 shares during the period. First Horizon Advisors Inc. increased its stake in Hewlett Packard Enterprise by 4.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 10,933 shares of the technology company’s stock valued at $231,000 after buying an additional 501 shares during the period. Oregon Public Employees Retirement Fund raised its position in Hewlett Packard Enterprise by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 111,617 shares of the technology company’s stock worth $2,363,000 after buying an additional 536 shares during the last quarter. Bailard Inc. lifted its stake in shares of Hewlett Packard Enterprise by 1.7% in the 2nd quarter. Bailard Inc. now owns 35,349 shares of the technology company’s stock worth $748,000 after acquiring an additional 580 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Hewlett Packard Enterprise by 10.1% in the first quarter. EverSource Wealth Advisors LLC now owns 6,806 shares of the technology company’s stock valued at $116,000 after acquiring an additional 626 shares in the last quarter. 80.78% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Gerri Gold sold 22,784 shares of Hewlett Packard Enterprise stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $21.67, for a total transaction of $493,729.28. Following the completion of the sale, the chief executive officer now owns 57,081 shares in the company, valued at approximately $1,236,945.27. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Susquehanna reissued a “neutral” rating and set a $20.00 price target on shares of Hewlett Packard Enterprise in a report on Friday, September 6th. Bank of America reduced their price target on Hewlett Packard Enterprise from $24.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, September 5th. Morgan Stanley reaffirmed an “equal weight” rating and set a $21.00 price objective on shares of Hewlett Packard Enterprise in a report on Thursday, June 20th. UBS Group raised their target price on Hewlett Packard Enterprise from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, September 5th. Finally, Wells Fargo & Company upped their price target on shares of Hewlett Packard Enterprise from $19.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 5th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Hewlett Packard Enterprise has an average rating of “Hold” and a consensus price target of $20.83.

Hewlett Packard Enterprise Price Performance

Shares of NYSE HPE opened at $16.40 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 0.36. The stock has a market cap of $21.30 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 2.20 and a beta of 1.19. The company’s 50-day moving average price is $19.12 and its 200 day moving average price is $18.52. Hewlett Packard Enterprise has a 52 week low of $14.47 and a 52 week high of $22.82.

Hewlett Packard Enterprise (NYSE:HPE) last issued its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.50 earnings per share for the quarter, topping 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 business had revenue of $7.71 billion during the quarter, compared to analysts’ expectations of $7.67 billion. During the same period last year, the company posted $0.35 EPS. The company’s revenue was up 10.1% on a year-over-year basis. As a group, research analysts forecast that Hewlett Packard Enterprise will post 1.59 earnings per share for the current fiscal year.

Hewlett Packard Enterprise Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, September 19th will be issued a $0.13 dividend. The ex-dividend date is Thursday, September 19th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.17%. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is 37.96%.

Hewlett Packard Enterprise 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.