Summit Financial Wealth Advisors LLC Buys 1,242 Shares of Hewlett Packard Enterprise (NYSE:HPE)

Summit Financial Wealth Advisors LLC increased its position in Hewlett Packard Enterprise (NYSE:HPE) by 12.3% in the third quarter, Holdings Channel.com reports. The fund owned 11,348 shares of the technology company’s stock after acquiring an additional 1,242 shares during the quarter. Summit Financial Wealth Advisors LLC’s holdings in Hewlett Packard Enterprise were worth $232,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. BOKF NA boosted its holdings in Hewlett Packard Enterprise by 23.8% in the 1st quarter. BOKF NA now owns 4,673 shares of the technology company’s stock valued at $84,000 after purchasing an additional 898 shares during the period. Price T Rowe Associates Inc. MD grew its position in Hewlett Packard Enterprise by 20.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,067,721 shares of the technology company’s stock worth $36,662,000 after buying an additional 347,067 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in Hewlett Packard Enterprise by 24.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 49,511 shares of the technology company’s stock worth $866,000 after acquiring an additional 9,667 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of Hewlett Packard Enterprise by 3.0% in the 1st quarter. California State Teachers Retirement System now owns 2,165,713 shares of the technology company’s stock valued at $38,398,000 after acquiring an additional 63,020 shares in the last quarter. Finally, Comerica Bank raised its holdings in shares of Hewlett Packard Enterprise by 36.5% in the 1st quarter. Comerica Bank now owns 266,326 shares of the technology company’s stock valued at $4,722,000 after acquiring an additional 71,267 shares in the last quarter. Hedge funds and other institutional investors own 80.78% of the company’s stock.

Insider Activity at Hewlett Packard Enterprise

In other news, CEO Antonio F. Neri sold 83,334 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $19.72, for a total value of $1,643,346.48. Following the completion of the transaction, the chief executive officer now owns 1,758,641 shares in the company, valued at $34,680,400.52. This trade represents a 4.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 approximately $1,395,037. The trade was a 26.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 426,012 shares of company stock worth $8,599,617 over the last quarter. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on HPE shares. Citigroup upped their price objective on shares of Hewlett Packard Enterprise from $20.00 to $23.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 19th. Loop Capital raised their price objective on shares of Hewlett Packard Enterprise from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Monday, September 9th. UBS Group upped their target price on shares of Hewlett Packard Enterprise from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft started coverage on Hewlett Packard Enterprise in a research report on Wednesday, October 9th. They set a “hold” rating and a $22.00 price target on the stock. Finally, Raymond James upgraded Hewlett Packard Enterprise from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $23.00 to $29.00 in a research report on Monday, November 18th. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Hewlett Packard Enterprise currently has an average rating of “Hold” and an average target price of $22.21.

Hewlett Packard Enterprise Trading Up 0.5 %

Shares of HPE opened at $22.22 on Tuesday. The stock has a market capitalization of $28.86 billion, a P/E ratio of 15.87, a PEG ratio of 3.45 and a beta of 1.19. Hewlett Packard Enterprise has a twelve month low of $14.47 and a twelve month high of $22.82. The company has a quick ratio of 0.62, a current ratio of 0.94 and a debt-to-equity ratio of 0.36. The firm has a fifty day simple moving average of $20.45 and a two-hundred day simple moving average of $19.67.

Hewlett Packard Enterprise (NYSE:HPE) last posted its earnings results on Wednesday, September 4th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. The company had revenue of $7.71 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 10.1% on a year-over-year basis. During the same period last year, the firm earned $0.35 earnings per share. On average, research analysts anticipate that Hewlett Packard Enterprise will post 1.66 EPS for the current year.

Hewlett Packard Enterprise Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Thursday, September 19th were paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date was Thursday, September 19th. Hewlett Packard Enterprise’s payout ratio is 37.14%.

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.