Hewlett Packard Enterprise (NYSE:HPE) Share Price Crosses Below 50 Day Moving Average – Here’s Why

Hewlett Packard Enterprise (NYSE:HPE) shares passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $21.34 and traded as low as $21.18. Hewlett Packard Enterprise shares last traded at $21.35, with a volume of 7,317,322 shares traded.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Susquehanna reaffirmed a “neutral” rating and issued a $20.00 price target on shares of Hewlett Packard Enterprise in a research report on Friday, October 11th. Loop Capital upped their price target on Hewlett Packard Enterprise from $18.00 to $24.00 and gave the stock a “hold” rating in a report on Monday, December 9th. StockNews.com upgraded Hewlett Packard Enterprise from a “buy” rating to a “strong-buy” rating in a research note on Monday, December 9th. Citigroup raised Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and raised their target price for the company from $23.00 to $26.00 in a research report on Friday, December 6th. Finally, UBS Group increased their price objective on Hewlett Packard Enterprise from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, September 5th. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $24.00.

Hewlett Packard Enterprise Price Performance

The firm’s 50 day moving average is $21.38 and its 200 day moving average is $20.22. The firm has a market cap of $28.34 billion, a P/E ratio of 11.48, a price-to-earnings-growth ratio of 2.02 and a beta of 1.21. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.29 and a quick ratio of 0.99.

Hewlett Packard Enterprise Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Friday, December 20th will be paid a $0.13 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.52 annualized dividend and a dividend yield of 2.38%. Hewlett Packard Enterprise’s payout ratio is currently 27.37%.

Insider Buying and Selling at Hewlett Packard Enterprise

In other Hewlett Packard Enterprise news, EVP John F. Schultz sold 262,818 shares of Hewlett Packard Enterprise stock in a transaction that occurred on 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 owns 270,430 shares of the company’s stock, valued at approximately $5,846,696.60. The trade was a 49.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Antonio F. Neri sold 250,000 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $20.73, for a total value of $5,182,500.00. Following the completion of the transaction, the chief executive officer now owns 1,508,641 shares in the company, valued at approximately $31,274,127.93. This trade represents a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 578,359 shares of company stock worth $12,380,028. 0.40% of the stock is owned by insiders.

Institutional Trading of Hewlett Packard Enterprise

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HPE. RPg Family Wealth Advisory LLC purchased a new stake in Hewlett Packard Enterprise in the third quarter worth about $25,000. Valley Wealth Managers Inc. purchased a new stake in Hewlett Packard Enterprise in the 3rd quarter worth approximately $26,000. Hazlett Burt & Watson Inc. raised its stake in Hewlett Packard Enterprise by 571.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,343 shares of the technology company’s stock worth $28,000 after acquiring an additional 1,143 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in Hewlett Packard Enterprise during the second quarter valued at approximately $28,000. Finally, Financial Management Professionals Inc. boosted its position in shares of Hewlett Packard Enterprise by 80.3% in the third quarter. Financial Management Professionals Inc. now owns 1,430 shares of the technology company’s stock worth $29,000 after purchasing an additional 637 shares during the period. 80.78% of the stock is owned by hedge funds and other 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.