Modern Wealth Management LLC Makes New Investment in Hewlett Packard Enterprise (NYSE:HPE)

Modern Wealth Management LLC bought a new stake in Hewlett Packard Enterprise (NYSE:HPE) during the 4th quarter, HoldingsChannel reports. The fund bought 36,796 shares of the technology company’s stock, valued at approximately $789,000.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HPE. Daiwa Capital Markets downgraded Hewlett Packard Enterprise from an “outperform” rating to a “neutral” rating and set a $16.00 target price for the company. in a research report on Wednesday, March 12th. Wells Fargo & Company lowered their price objective 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. StockNews.com lowered shares of Hewlett Packard Enterprise from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Loop Capital lowered their price target on Hewlett Packard Enterprise from $24.00 to $16.00 and set a “hold” rating for the company in a report on Monday, March 10th. Finally, Susquehanna reduced their price objective on Hewlett Packard Enterprise from $20.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Nine equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Hewlett Packard Enterprise has an average rating of “Moderate Buy” and a consensus price target of $21.27.

Hewlett Packard Enterprise Stock Performance

HPE stock opened at $16.08 on Thursday. Hewlett Packard Enterprise has a one year low of $14.64 and a one year high of $24.66. The firm has a market cap of $21.12 billion, a price-to-earnings ratio of 8.46, a PEG ratio of 2.03 and a beta of 1.20. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 1.29. The firm has a 50-day simple moving average of $19.85 and a two-hundred day simple moving average of $20.45.

Hewlett Packard Enterprise Dividend Announcement

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

Insider Buying and Selling at Hewlett Packard Enterprise

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

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.