Bell Bank Invests $3.38 Million in Hewlett Packard Enterprise (NYSE:HPE)

Bell Bank purchased a new stake in Hewlett Packard Enterprise (NYSE:HPE - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 165,130 shares of the technology company's stock, valued at approximately $3,379,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hazlett Burt & Watson Inc. raised its holdings in Hewlett Packard Enterprise by 571.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,343 shares of the technology company's stock valued at $28,000 after acquiring an additional 1,143 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in Hewlett Packard Enterprise in the 2nd quarter valued at $28,000. Financial Management Professionals Inc. grew its holdings in Hewlett Packard Enterprise by 80.3% in the 3rd quarter. Financial Management Professionals Inc. now owns 1,430 shares of the technology company's stock valued at $29,000 after buying an additional 637 shares in the last quarter. ORG Partners LLC increased its position in Hewlett Packard Enterprise by 224.5% during the 2nd quarter. ORG Partners LLC now owns 1,853 shares of the technology company's stock worth $39,000 after buying an additional 1,282 shares during the period. Finally, Rise Advisors LLC lifted its holdings in shares of Hewlett Packard Enterprise by 45.5% during the third quarter. Rise Advisors LLC now owns 1,999 shares of the technology company's stock worth $41,000 after buying an additional 625 shares in the last quarter. 80.78% of the stock is owned by institutional investors.

Hewlett Packard Enterprise Trading Down 2.3 %

Shares of Hewlett Packard Enterprise stock traded down $0.51 on Thursday, hitting $21.35. The stock had a trading volume of 8,999,358 shares, compared to its average volume of 15,301,063. The stock has a 50 day moving average of $19.73 and a 200 day moving average of $19.39. The firm has a market capitalization of $27.72 billion, a P/E ratio of 15.36, a PEG ratio of 3.37 and a beta of 1.19. Hewlett Packard Enterprise has a twelve month low of $14.47 and a twelve month high of $22.82. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.62 and a current ratio of 0.94.

Hewlett Packard Enterprise (NYSE:HPE - Get Free Report) last released its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. The firm had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.67 billion. Hewlett Packard Enterprise had a net margin of 6.39% and a return on equity of 8.94%. The company's revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 earnings per share. Sell-side analysts expect that Hewlett Packard Enterprise will post 1.66 earnings per share for the current fiscal year.

Hewlett Packard Enterprise Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, September 19th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date of this dividend was Thursday, September 19th. Hewlett Packard Enterprise's dividend payout ratio is currently 37.14%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Barclays upgraded Hewlett Packard Enterprise from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $20.00 to $24.00 in a research note on Wednesday, September 25th. Susquehanna restated a "neutral" rating and issued a $20.00 price target on shares of Hewlett Packard Enterprise in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Hewlett Packard Enterprise in a research report on Wednesday, October 9th. They set a "hold" rating and a $22.00 price objective for the company. UBS Group raised their target price on shares of Hewlett Packard Enterprise from $17.00 to $19.00 and gave the company a "neutral" rating in a report on Thursday, September 5th. Finally, Bank of America raised shares of Hewlett Packard Enterprise from a "neutral" rating to a "buy" rating and upped their price target for the stock from $21.00 to $24.00 in a report on Tuesday, September 17th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $21.46.

Insider Activity at Hewlett Packard Enterprise

In other news, CEO Antonio F. Neri sold 83,334 shares of the firm's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $19.72, for a total value of $1,643,346.48. Following the completion of the sale, the chief executive officer now directly owns 1,758,641 shares in the company, valued at $34,680,400.52. This trade represents a 4.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Neil B. Macdonald sold 29,000 shares of the business's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $17.00, for a total value of $493,000.00. Following the completion of the sale, the executive vice president now directly owns 82,061 shares of the company's stock, valued at $1,395,037. The trade was a 26.11 % 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 worth $8,599,617 over the last ninety days. Insiders own 0.40% of the company's stock.

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.