Hewlett Packard Enterprise (NYSE:HPE) Stock Price Down 4.3% – Here’s What Happened

Hewlett Packard Enterprise (NYSE:HPE)’s stock price traded down 4.3% during mid-day trading on Tuesday . The stock traded as low as $21.40 and last traded at $21.95. 2,970,696 shares changed hands during trading, a decline of 79% from the average session volume of 14,238,641 shares. The stock had previously closed at $22.95.

Analyst Ratings Changes

A number of brokerages recently issued reports on HPE. Barclays raised their price target on Hewlett Packard Enterprise from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Citigroup raised shares of Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and boosted their target price for the company from $23.00 to $26.00 in a research note on Friday, December 6th. Raymond James raised shares of Hewlett Packard Enterprise from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $23.00 to $29.00 in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft upgraded Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research note on Thursday, December 19th. Finally, Loop Capital increased their target price on shares of Hewlett Packard Enterprise from $18.00 to $24.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Hewlett Packard Enterprise has an average rating of “Moderate Buy” and a consensus target price of $24.00.

Hewlett Packard Enterprise Price Performance

The company has a 50-day moving average of $22.13 and a 200 day moving average of $20.44. The company has a quick ratio of 0.99, a current ratio of 1.29 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $28.74 billion, a PE ratio of 11.48, a PEG ratio of 2.27 and a beta of 1.20.

Hewlett Packard Enterprise Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Friday, December 20th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.52 dividend on an annualized basis and a yield of 2.38%. Hewlett Packard Enterprise’s payout ratio is presently 27.37%.

Insider Buying and Selling at Hewlett Packard Enterprise

In related news, EVP John F. Schultz sold 262,818 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $21.62, for a total transaction 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 approximately $5,846,696.60. This trade represents a 49.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gary M. Reiner sold 50,000 shares of Hewlett Packard Enterprise stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $23.47, for a total transaction of $1,173,500.00. Following the sale, the director now owns 104,192 shares of the company’s stock, valued at approximately $2,445,386.24. This represents a 32.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 332,166 shares of company stock worth $7,300,629. Insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. CFC Planning Co LLC acquired a new stake in shares of Hewlett Packard Enterprise in the 4th quarter valued at $460,000. Vontobel Holding Ltd. raised its stake in Hewlett Packard Enterprise by 27.6% in the fourth quarter. Vontobel Holding Ltd. now owns 1,963,767 shares of the technology company’s stock valued at $41,926,000 after buying an additional 424,905 shares in the last quarter. Catalyst Financial Partners LLC purchased a new stake in Hewlett Packard Enterprise during the 4th quarter worth about $200,000. Asset Management One Co. Ltd. increased its holdings in shares of Hewlett Packard Enterprise by 1.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 509,534 shares of the technology company’s stock valued at $11,031,000 after acquiring an additional 8,620 shares during the last quarter. Finally, Avestar Capital LLC lifted its stake in Hewlett Packard Enterprise by 39.6% during the fourth quarter. Avestar Capital LLC now owns 19,940 shares of the technology company’s stock worth $426,000 after purchasing an additional 5,658 shares during the last quarter. Hedge funds and other institutional investors own 80.78% of the company’s stock.

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.