Primecap Management Co. CA Has $641.52 Million Position in Hewlett Packard Enterprise (NYSE:HPE)

Primecap Management Co. CA reduced its position in shares of Hewlett Packard Enterprise (NYSE:HPE) by 1.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 31,354,856 shares of the technology company’s stock after selling 420,415 shares during the period. Primecap Management Co. CA’s holdings in Hewlett Packard Enterprise were worth $641,520,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Moloney Securities Asset Management LLC bought a new position in shares of Hewlett Packard Enterprise in the third quarter worth about $861,000. CHICAGO TRUST Co NA raised its stake in shares of Hewlett Packard Enterprise by 67.8% during the third quarter. CHICAGO TRUST Co NA now owns 90,826 shares of the technology company’s stock worth $1,858,000 after buying an additional 36,704 shares during the last quarter. National Pension Service raised its stake in shares of Hewlett Packard Enterprise by 17.3% during the third quarter. National Pension Service now owns 3,202,752 shares of the technology company’s stock worth $65,528,000 after buying an additional 472,885 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Hewlett Packard Enterprise by 455.7% during the first quarter. Cetera Investment Advisers now owns 121,204 shares of the technology company’s stock worth $2,149,000 after buying an additional 99,394 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Hewlett Packard Enterprise by 1,846.5% during the third quarter. International Assets Investment Management LLC now owns 489,092 shares of the technology company’s stock worth $100,070,000 after buying an additional 463,965 shares during the last quarter. 80.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

HPE has been the subject of a number of analyst reports. Barclays upgraded shares of Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $20.00 to $24.00 in a report on Wednesday, September 25th. Raymond James upgraded shares of Hewlett Packard Enterprise from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $23.00 to $29.00 in a report on Monday. Citigroup upped their price target on shares of Hewlett Packard Enterprise from $20.00 to $23.00 and gave the company a “neutral” rating in a report on Tuesday. Bank of America upgraded shares of Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and upped their price target for the company from $21.00 to $24.00 in a report on Tuesday, September 17th. Finally, Susquehanna reiterated a “neutral” rating and issued a $20.00 price target on shares of Hewlett Packard Enterprise in a report on Friday, October 11th. Nine investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $22.21.

Hewlett Packard Enterprise Stock Performance

NYSE HPE opened at $21.18 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 0.36. The firm’s fifty day moving average price is $20.15 and its two-hundred day moving average price is $19.55. Hewlett Packard Enterprise has a 1 year low of $14.47 and a 1 year high of $22.82. The firm has a market capitalization of $27.51 billion, a P/E ratio of 15.13, a price-to-earnings-growth ratio of 3.36 and a beta of 1.19.

Hewlett Packard Enterprise (NYSE:HPE) last issued its quarterly earnings data on Wednesday, September 4th. The technology company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. The company had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.67 billion. Hewlett Packard Enterprise had a net margin of 6.39% and a return on equity of 8.94%. The company’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 earnings per share. As a group, research analysts anticipate that Hewlett Packard Enterprise will post 1.66 EPS for the current year.

Hewlett Packard Enterprise Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, September 19th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend was Thursday, September 19th. Hewlett Packard Enterprise’s payout ratio is presently 37.14%.

Insider Activity

In related news, CEO Antonio F. Neri sold 83,334 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $19.72, for a total value of $1,643,346.48. Following the transaction, the chief executive officer now directly owns 1,758,641 shares in the company, valued at approximately $34,680,400.52. This represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jeremy Cox sold 7,770 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were 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. This trade represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 426,012 shares of company stock valued at $8,599,617 over the last ninety days. 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.