Bank of America Cuts Hewlett Packard Enterprise (NYSE:HPE) Price Target to $20.00

Hewlett Packard Enterprise (NYSE:HPE - Free Report) had its price target cut by Bank of America from $26.00 to $20.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the technology company's stock.

A number of other equities research analysts have also commented on the company. Barclays decreased their price target on Hewlett Packard Enterprise from $27.00 to $20.00 and set an "overweight" rating on the stock in a research report on Friday. StockNews.com cut Hewlett Packard Enterprise from a "strong-buy" rating to a "buy" rating in a report on Thursday, February 6th. Raymond James upgraded Hewlett Packard Enterprise from an "outperform" rating to a "strong-buy" rating and raised their target price for the company from $23.00 to $29.00 in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Hewlett Packard Enterprise from a "hold" rating to a "buy" rating and set a $25.00 price target on the stock in a research report on Thursday, December 19th. Finally, Citigroup upgraded shares of Hewlett Packard Enterprise from a "neutral" rating to a "buy" rating and raised their price objective for the company from $23.00 to $26.00 in a research report on Friday, December 6th. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Hewlett Packard Enterprise currently has a consensus rating of "Moderate Buy" and an average price target of $22.21.

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Hewlett Packard Enterprise Price Performance

HPE stock traded down $2.15 during trading on Friday, hitting $15.82. 81,923,511 shares of the stock traded hands, compared to its average volume of 14,855,802. The stock has a market cap of $20.77 billion, a price-to-earnings ratio of 8.32, a P/E/G ratio of 2.03 and a beta of 1.20. Hewlett Packard Enterprise has a one year low of $14.93 and a one year high of $24.66. The company has a current ratio of 1.29, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. The company has a 50 day simple moving average of $21.47 and a 200 day simple moving average of $20.72.

Hewlett Packard Enterprise Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, March 21st will be paid a $0.13 dividend. The ex-dividend date is Friday, March 21st. This represents a $0.52 dividend on an annualized basis and a yield of 3.29%. Hewlett Packard Enterprise's payout ratio is 25.37%.

Insider Transactions at Hewlett Packard Enterprise

In related news, SVP Jeremy Cox sold 11,577 shares of the company's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $23.00, for a total value of $266,271.00. Following the completion of the transaction, the senior vice president now directly owns 48,615 shares of the company's stock, valued at approximately $1,118,145. This represents a 19.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John F. Schultz sold 262,818 shares of Hewlett Packard Enterprise stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $21.62, for a total value of $5,682,125.16. Following the completion of the sale, the executive vice president now directly owns 270,430 shares in the company, valued at $5,846,696.60. This represents a 49.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 324,395 shares of company stock valued at $7,121,896 over the last 90 days. 0.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Stephens Inc. AR grew its stake in shares of Hewlett Packard Enterprise by 12.3% during the 3rd quarter. Stephens Inc. AR now owns 17,998 shares of the technology company's stock worth $368,000 after acquiring an additional 1,972 shares in the last quarter. Maia Wealth LLC bought a new position in Hewlett Packard Enterprise in the third quarter valued at $123,000. Concurrent Investment Advisors LLC increased its stake in Hewlett Packard Enterprise by 148.1% in 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. Graypoint LLC lifted its position in Hewlett Packard Enterprise by 18.0% during the 3rd quarter. Graypoint LLC now owns 35,359 shares of the technology company's stock worth $723,000 after buying an additional 5,406 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Hewlett Packard Enterprise by 4.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,561,022 shares of the technology company's stock worth $31,939,000 after buying an additional 68,892 shares during the last quarter. 80.78% of the stock is currently owned by institutional investors.

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.