Primecap Management Co. CA Sells 2,452,456 Shares of Hewlett Packard Enterprise (NYSE:HPE)

Primecap Management Co. CA cut its stake in Hewlett Packard Enterprise (NYSE:HPE) by 7.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,902,400 shares of the technology company’s stock after selling 2,452,456 shares during the period. Primecap Management Co. CA owned approximately 2.20% of Hewlett Packard Enterprise worth $617,066,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new position in shares of Hewlett Packard Enterprise during the 3rd quarter worth about $25,000. Hara Capital LLC bought a new position in shares of Hewlett Packard Enterprise during the 4th quarter worth about $28,000. Tandem Financial LLC bought a new position in shares of Hewlett Packard Enterprise during the 4th quarter worth about $32,000. R Squared Ltd bought a new position in shares of Hewlett Packard Enterprise during the 4th quarter worth about $45,000. Finally, Quest Partners LLC bought a new position in shares of Hewlett Packard Enterprise during the 3rd quarter worth about $50,000. 80.78% of the stock is owned by institutional investors.

Insider Transactions at Hewlett Packard Enterprise

In related news, SVP Jeremy Cox sold 11,577 shares of Hewlett Packard Enterprise stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $23.00, for a total transaction of $266,271.00. Following the transaction, the senior vice president now owns 48,615 shares of the company’s stock, valued at $1,118,145. This trade represents a 19.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.36% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on HPE shares. Barclays reduced their price objective on shares of Hewlett Packard Enterprise from $27.00 to $20.00 and set an “overweight” rating for the company in a report on Friday, March 7th. Raymond James upgraded shares of Hewlett Packard Enterprise from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $23.00 to $29.00 in a research report on Monday, November 18th. Loop Capital dropped their target price on shares of Hewlett Packard Enterprise from $24.00 to $16.00 and set a “hold” rating for the company in a research report on Monday, March 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research report on Thursday, December 19th. Finally, Wells Fargo & Company dropped their target price on shares of Hewlett Packard Enterprise from $22.00 to $17.00 and set an “equal weight” rating for the company in a research report on Friday, March 7th. Nine analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.27.

Hewlett Packard Enterprise Trading Up 1.6 %

HPE opened at $15.88 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $20.85 billion, a PE ratio of 8.36, a PEG ratio of 2.03 and a beta of 1.20. Hewlett Packard Enterprise has a 1-year low of $14.64 and a 1-year high of $24.66. The firm has a 50-day moving average price of $20.70 and a two-hundred day moving average price of $20.58.

Hewlett Packard Enterprise Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 18th. Stockholders of record on Friday, March 21st will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Friday, March 21st. Hewlett Packard Enterprise’s dividend payout ratio is 25.37%.

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.