West Tower Group LLC Trims Stake in Hewlett Packard Enterprise (NYSE:HPE)

West Tower Group LLC cut its holdings in Hewlett Packard Enterprise (NYSE:HPE - Free Report) by 58.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,621 shares of the technology company's stock after selling 72,191 shares during the period. Hewlett Packard Enterprise accounts for 2.2% of West Tower Group LLC's portfolio, making the stock its 11th largest holding. West Tower Group LLC's holdings in Hewlett Packard Enterprise were worth $1,036,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of HPE. Longfellow Investment Management Co. LLC raised its stake in shares of Hewlett Packard Enterprise by 45.6% in the third quarter. Longfellow Investment Management Co. LLC now owns 37,627 shares of the technology company's stock worth $770,000 after buying an additional 11,790 shares during the period. Canton Hathaway LLC raised its stake in Hewlett Packard Enterprise by 33.0% during the 3rd quarter. Canton Hathaway LLC now owns 12,100 shares of the technology company's stock worth $248,000 after acquiring an additional 3,000 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Hewlett Packard Enterprise during the 3rd quarter worth approximately $588,000. Fisher Asset Management LLC lifted its holdings in Hewlett Packard Enterprise by 211.1% during the third quarter. Fisher Asset Management LLC now owns 33,973 shares of the technology company's stock valued at $695,000 after purchasing an additional 23,053 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of Hewlett Packard Enterprise by 10.9% in the third quarter. Daiwa Securities Group Inc. now owns 164,619 shares of the technology company's stock worth $3,368,000 after purchasing an additional 16,205 shares during the period. Hedge funds and other institutional investors own 80.78% of the company's stock.

Hewlett Packard Enterprise Stock Performance

Shares of NYSE:HPE opened at $22.22 on Tuesday. The firm has a fifty day simple moving average of $20.45 and a two-hundred day simple moving average of $19.67. Hewlett Packard Enterprise has a 52 week low of $14.47 and a 52 week high of $22.82. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $28.86 billion, a P/E ratio of 15.87, a PEG ratio of 3.45 and a beta of 1.19.

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

Hewlett Packard Enterprise Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, September 19th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, September 19th. Hewlett Packard Enterprise's dividend payout ratio (DPR) is 37.14%.

Analysts Set New Price Targets

HPE has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft began 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 on the stock. Citigroup boosted their price objective on Hewlett Packard Enterprise from $20.00 to $23.00 and gave the company a "neutral" rating in a research report on Tuesday, November 19th. Loop Capital upped their price objective on Hewlett Packard Enterprise from $16.00 to $18.00 and gave the stock a "hold" rating in a research note on Monday, September 9th. UBS Group lifted their target price on Hewlett Packard Enterprise from $17.00 to $19.00 and gave the company a "neutral" rating in a research note on Thursday, September 5th. Finally, Bank of America upgraded 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 research note on Tuesday, September 17th. Nine research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Hewlett Packard Enterprise currently has an average rating of "Hold" and a consensus target price of $22.21.

Insider Activity

In related news, SVP Jeremy Cox sold 7,770 shares of the business's stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $21.00, for a total transaction of $163,170.00. Following the completion of the transaction, the senior vice president now owns 7,771 shares in the company, valued at $163,191. The trade was a 50.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Neil B. Macdonald sold 29,000 shares of the stock in a transaction on Friday, September 13th. The stock was 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 owns 82,061 shares in the company, valued at approximately $1,395,037. The trade was a 26.11 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 426,012 shares of company stock valued at $8,599,617. 0.40% of the stock is currently owned by company insiders.

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.

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