Modern Wealth Management LLC Acquires New Stake in Hewlett Packard Enterprise (NYSE:HPE)

Modern Wealth Management LLC bought a new position in Hewlett Packard Enterprise (NYSE:HPE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 36,796 shares of the technology company’s stock, valued at approximately $789,000.

A number of other large investors have also made changes to their positions in HPE. Quest Partners LLC bought a new stake in Hewlett Packard Enterprise during the third quarter valued at approximately $50,000. Cerity Partners LLC boosted its stake in shares of Hewlett Packard Enterprise by 104.7% during the 3rd quarter. Cerity Partners LLC now owns 302,202 shares of the technology company’s stock worth $6,184,000 after acquiring an additional 154,563 shares during the last quarter. Centaurus Financial Inc. bought a new stake in shares of Hewlett Packard Enterprise during the 3rd quarter valued at $155,000. Daiwa Securities Group Inc. increased its stake in shares of Hewlett Packard Enterprise by 10.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 164,619 shares of the technology company’s stock worth $3,368,000 after purchasing an additional 16,205 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Hewlett Packard Enterprise by 211.1% in the 3rd quarter. Fisher Asset Management LLC now owns 33,973 shares of the technology company’s stock worth $695,000 after purchasing an additional 23,053 shares during the period. 80.78% of the stock is currently owned by institutional investors.

Hewlett Packard Enterprise Trading Down 2.7 %

Shares of HPE stock opened at $16.08 on Thursday. 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 $21.12 billion, a price-to-earnings ratio of 8.46, a price-to-earnings-growth ratio of 2.03 and a beta of 1.20. Hewlett Packard Enterprise has a 12-month low of $14.64 and a 12-month high of $24.66. The stock’s 50-day moving average price is $19.85 and its 200-day moving average price is $20.45.

Hewlett Packard Enterprise Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 18th. Shareholders of record on Friday, March 21st will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Friday, March 21st. Hewlett Packard Enterprise’s payout ratio is 25.37%.

Insider Transactions at Hewlett Packard Enterprise

In other news, SVP Jeremy Cox sold 11,577 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $23.00, for a total value of $266,271.00. Following the sale, the senior vice president now directly owns 48,615 shares in the company, valued at $1,118,145. The trade was a 19.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.36% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on HPE. Bank of America reduced their price target on Hewlett Packard Enterprise from $26.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Daiwa Capital Markets lowered shares of Hewlett Packard Enterprise from an “outperform” rating to a “neutral” rating and set a $16.00 target price for the company. in a report on Wednesday, March 12th. Morgan Stanley lowered their price target on shares of Hewlett Packard Enterprise from $28.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft upgraded shares of Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research report on Thursday, December 19th. Finally, Daiwa America downgraded shares of Hewlett Packard Enterprise from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 12th. Nine investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.27.

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.