Legacy Bridge LLC Buys 6,105 Shares of Hewlett Packard Enterprise (NYSE:HPE)

Legacy Bridge LLC raised its position in shares of Hewlett Packard Enterprise (NYSE:HPE) by 10.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 66,930 shares of the technology company’s stock after acquiring an additional 6,105 shares during the quarter. Legacy Bridge LLC’s holdings in Hewlett Packard Enterprise were worth $1,369,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HPE. Valley Wealth Managers Inc. bought a new stake in shares of Hewlett Packard Enterprise during the third quarter valued at approximately $26,000. Hazlett Burt & Watson Inc. lifted its position in Hewlett Packard Enterprise by 571.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 1,343 shares of the technology company’s stock valued at $28,000 after buying an additional 1,143 shares during the period. Ashton Thomas Private Wealth LLC bought a new stake in shares of Hewlett Packard Enterprise during the 2nd quarter valued at $28,000. Financial Management Professionals Inc. grew its position in shares of Hewlett Packard Enterprise by 80.3% in the 3rd quarter. Financial Management Professionals Inc. now owns 1,430 shares of the technology company’s stock worth $29,000 after buying an additional 637 shares during the period. Finally, ORG Partners LLC increased its stake in shares of Hewlett Packard Enterprise by 224.5% in the 2nd quarter. ORG Partners LLC now owns 1,853 shares of the technology company’s stock worth $39,000 after acquiring an additional 1,282 shares in the last quarter. Hedge funds and other institutional investors own 80.78% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on HPE shares. Barclays upgraded shares of Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $20.00 to $24.00 in a report on Wednesday, September 25th. Susquehanna reaffirmed a “neutral” rating and set a $20.00 price objective on shares of Hewlett Packard Enterprise in a research report on Friday, October 11th. Loop Capital boosted their target price on Hewlett Packard Enterprise from $16.00 to $18.00 and gave the stock a “hold” rating in a report on Monday, September 9th. Bank of America raised Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and increased their target price for the stock from $21.00 to $24.00 in a research note on Tuesday, September 17th. Finally, Citigroup assumed coverage on Hewlett Packard Enterprise in a research report on Monday, September 23rd. They issued a “neutral” rating and a $20.00 price target for the company. Nine research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $22.00.

Hewlett Packard Enterprise Price Performance

NYSE HPE opened at $21.39 on Tuesday. The stock has a market capitalization of $27.77 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 3.27 and a beta of 1.19. Hewlett Packard Enterprise has a 1-year low of $14.47 and a 1-year high of $22.82. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.94 and a quick ratio of 0.62. The business’s fifty day moving average price is $19.95 and its 200-day moving average price is $19.50.

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

Hewlett Packard Enterprise Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, September 19th were issued a dividend of $0.13 per share. The ex-dividend date was Thursday, September 19th. This represents a $0.52 dividend on an annualized basis and a yield of 2.43%. Hewlett Packard Enterprise’s dividend payout ratio is currently 37.14%.

Insider Buying and Selling at Hewlett Packard Enterprise

In other news, EVP Neil B. Macdonald sold 29,000 shares of the company’s 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 directly owns 82,061 shares in the company, valued at $1,395,037. This represents a 26.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Jeremy Cox sold 7,770 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $21.00, for a total value of $163,170.00. Following the completion of the transaction, the senior vice president now directly owns 7,771 shares in the company, valued at approximately $163,191. This represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 426,012 shares of company stock valued at $8,599,617. Insiders own 0.40% of the company’s stock.

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.