Harvey Capital Management Inc. Makes New Investment in Hewlett Packard Enterprise (NYSE:HPE)

Harvey Capital Management Inc. bought a new stake in shares of Hewlett Packard Enterprise (NYSE:HPE - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 120,780 shares of the technology company's stock, valued at approximately $2,579,000.

Several other institutional investors have also made changes to their positions in the business. Geode Capital Management LLC boosted its position in shares of Hewlett Packard Enterprise by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 31,492,740 shares of the technology company's stock valued at $642,748,000 after acquiring an additional 251,076 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Hewlett Packard Enterprise by 18.1% in the third quarter. Pacer Advisors Inc. now owns 27,383,858 shares of the technology company's stock worth $560,274,000 after acquiring an additional 4,194,213 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Hewlett Packard Enterprise by 6.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,696,449 shares of the technology company's stock worth $321,149,000 after buying an additional 921,624 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Hewlett Packard Enterprise by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 9,609,078 shares of the technology company's stock worth $196,602,000 after buying an additional 129,463 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in shares of Hewlett Packard Enterprise by 35.1% during the fourth quarter. Nordea Investment Management AB now owns 7,253,035 shares of the technology company's stock worth $155,142,000 after buying an additional 1,885,559 shares during the last quarter. 80.78% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP John F. Schultz sold 262,818 shares of the firm's stock in a transaction dated Wednesday, December 11th. The stock was 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 trade represents a 49.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jeremy Cox sold 7,771 shares of the firm's stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $23.00, for a total value of $178,733.00. Following the completion of the sale, the senior vice president now owns 61,735 shares of the company's stock, valued at approximately $1,419,905. This represents a 11.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 332,166 shares of company stock worth $7,300,629. Insiders own 0.40% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on HPE shares. Deutsche Bank Aktiengesellschaft upgraded shares of Hewlett Packard Enterprise from a "hold" rating to a "buy" rating and set a $25.00 price objective for the company in a report on Thursday, December 19th. Loop Capital lifted their price target on shares of Hewlett Packard Enterprise from $18.00 to $24.00 and gave the company a "hold" rating in a research note on Monday, December 9th. Raymond James raised Hewlett Packard Enterprise from an "outperform" rating to a "strong-buy" rating and lifted their target price for the company from $23.00 to $29.00 in a research report on Monday, November 18th. Barclays boosted their price target on Hewlett Packard Enterprise from $24.00 to $27.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Finally, StockNews.com downgraded Hewlett Packard Enterprise from a "strong-buy" rating to a "buy" rating in a research report on Thursday, February 6th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $24.00.

Hewlett Packard Enterprise Price Performance

NYSE HPE traded up $0.45 on Friday, hitting $21.73. 9,801,469 shares of the company's stock were exchanged, compared to its average volume of 15,869,325. The stock has a 50-day moving average of $22.00 and a 200-day moving average of $20.51. The company has a current ratio of 1.29, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. Hewlett Packard Enterprise has a 52 week low of $14.47 and a 52 week high of $24.66. The stock has a market cap of $28.58 billion, a price-to-earnings ratio of 11.43, a P/E/G ratio of 1.98 and a beta of 1.19.

Hewlett Packard Enterprise Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Friday, December 20th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Friday, December 20th. Hewlett Packard Enterprise's payout ratio is 27.37%.

About Hewlett Packard Enterprise

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.