Legacy Capital Group California Inc. Increases Holdings in Hewlett Packard Enterprise (NYSE:HPE)

Legacy Capital Group California Inc. increased its stake in Hewlett Packard Enterprise (NYSE:HPE) by 17.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,616 shares of the technology company’s stock after purchasing an additional 6,378 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Hewlett Packard Enterprise were worth $733,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. IFP Advisors Inc increased its stake in Hewlett Packard Enterprise by 16.0% in the 2nd quarter. IFP Advisors Inc now owns 4,241 shares of the technology company’s stock worth $66,000 after acquiring an additional 584 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Hewlett Packard Enterprise by 9.8% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 6,636 shares of the technology company’s stock worth $111,000 after buying an additional 590 shares during the last quarter. Janiczek Wealth Management LLC raised its position in shares of Hewlett Packard Enterprise by 7.4% during the 2nd quarter. Janiczek Wealth Management LLC now owns 8,957 shares of the technology company’s stock valued at $151,000 after buying an additional 616 shares in the last quarter. Beck Bode LLC lifted its holdings in shares of Hewlett Packard Enterprise by 1.7% during the 2nd quarter. Beck Bode LLC now owns 39,235 shares of the technology company’s stock worth $659,000 after acquiring an additional 671 shares during the last quarter. Finally, Valley National Advisers Inc. grew its position in Hewlett Packard Enterprise by 68.1% in the second quarter. Valley National Advisers Inc. now owns 1,728 shares of the technology company’s stock worth $30,000 after acquiring an additional 700 shares in the last quarter. 81.15% of the stock is currently owned by hedge funds and other institutional investors.

Hewlett Packard Enterprise Trading Up 1.2 %

NYSE HPE traded up $0.19 on Friday, hitting $15.93. The company’s stock had a trading volume of 8,801,041 shares, compared to its average volume of 11,977,658. Hewlett Packard Enterprise has a 52-week low of $13.65 and a 52-week high of $18.14. The company has a current ratio of 0.88, a quick ratio of 0.65 and a debt-to-equity ratio of 0.43. The company’s 50-day simple moving average is $16.43 and its 200 day simple moving average is $16.38. The firm has a market cap of $20.44 billion, a P/E ratio of 19.42, a PEG ratio of 2.69 and a beta of 1.25.

Hewlett Packard Enterprise (NYSE:HPE) last issued its quarterly earnings data on Tuesday, August 29th. The technology company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.47 by $0.02. Hewlett Packard Enterprise had a net margin of 3.64% and a return on equity of 5.32%. The business had revenue of $7 billion during the quarter, compared to analyst estimates of $6.99 billion. During the same period last year, the business posted $0.31 earnings per share. Hewlett Packard Enterprise’s quarterly revenue was up .7% compared to the same quarter last year. Research analysts predict that Hewlett Packard Enterprise will post 1.42 EPS for the current fiscal year.

Hewlett Packard Enterprise Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Thursday, September 14th were issued a $0.12 dividend. The ex-dividend date was Wednesday, September 13th. This represents a $0.48 annualized dividend and a yield of 3.01%. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is presently 58.54%.

Insider Activity at Hewlett Packard Enterprise

In related news, EVP Alan Richard May sold 343,016 shares of Hewlett Packard Enterprise stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $17.48, for a total transaction of $5,995,919.68. Following the completion of the transaction, the executive vice president now directly owns 249,511 shares of the company’s stock, valued at approximately $4,361,452.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Antonio F. Neri sold 434,884 shares of Hewlett Packard Enterprise stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $17.48, for a total value of $7,601,772.32. Following the completion of the transaction, the chief executive officer now owns 1,370,291 shares of the company’s stock, valued at approximately $23,952,686.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Alan Richard May sold 343,016 shares of Hewlett Packard Enterprise stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $17.48, for a total value of $5,995,919.68. Following the completion of the transaction, the executive vice president now directly owns 249,511 shares of the company’s stock, valued at approximately $4,361,452.28. The disclosure for this sale can be found here. 0.53% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

HPE has been the subject of several research reports. Raymond James upped their target price on shares of Hewlett Packard Enterprise from $19.00 to $20.00 and gave the stock an “outperform” rating in a research report on Friday, October 20th. Morgan Stanley upped their target price on shares of Hewlett Packard Enterprise from $14.00 to $15.00 and gave the stock an “underweight” rating in a research report on Wednesday, August 30th. Bank of America upped their price objective on shares of Hewlett Packard Enterprise from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, August 30th. StockNews.com raised shares of Hewlett Packard Enterprise from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. Finally, Credit Suisse Group cut their price objective on shares of Hewlett Packard Enterprise from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, August 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.54.

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.