Hewlett Packard Enterprise (NYSE:HPE) Trading Down 4.3% – Here’s What Happened

Hewlett Packard Enterprise (NYSE:HPE)’s share price fell 4.3% on Tuesday . The stock traded as low as $21.40 and last traded at $21.95. 2,970,696 shares were traded during mid-day trading, a decline of 79% from the average session volume of 14,238,641 shares. The stock had previously closed at $22.95.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on HPE shares. StockNews.com lowered Hewlett Packard Enterprise from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 3rd. Raymond James upgraded Hewlett Packard Enterprise from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $23.00 to $29.00 in a report on Monday, November 18th. Loop Capital upped their price objective on shares of Hewlett Packard Enterprise from $18.00 to $24.00 and gave the company a “hold” rating in a report on Monday, December 9th. Citigroup raised shares of Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $23.00 to $26.00 in a research report on Friday, December 6th. Finally, Susquehanna reaffirmed a “neutral” rating and issued a $20.00 target price on shares of Hewlett Packard Enterprise in a research report on Friday, October 11th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Hewlett Packard Enterprise Price Performance

The company has a quick ratio of 0.99, a current ratio of 1.29 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $27.87 billion, a P/E ratio of 11.19, a price-to-earnings-growth ratio of 2.27 and a beta of 1.20. The business’s 50-day moving average is $22.12 and its two-hundred day moving average is $20.43.

Hewlett Packard Enterprise Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Friday, December 20th were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.52 dividend on an annualized basis and a yield of 2.45%. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is currently 27.37%.

Insider Activity

In related news, SVP Jeremy Cox sold 7,771 shares of Hewlett Packard Enterprise stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $23.00, for a total value of $178,733.00. Following the sale, the senior vice president now owns 61,735 shares of the company’s stock, valued at approximately $1,419,905. The trade was a 11.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gary M. Reiner sold 50,000 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $23.47, for a total value of $1,173,500.00. Following the transaction, the director now directly owns 104,192 shares of the company’s stock, valued at approximately $2,445,386.24. This trade represents a 32.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 332,166 shares of company stock valued at $7,300,629 in the last ninety days. 0.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Apollon Wealth Management LLC boosted its holdings in shares of Hewlett Packard Enterprise by 16.8% in the fourth quarter. Apollon Wealth Management LLC now owns 30,196 shares of the technology company’s stock worth $645,000 after acquiring an additional 4,334 shares during the period. Cantor Fitzgerald Investment Advisors L.P. boosted its stake in Hewlett Packard Enterprise by 1.2% in the 4th quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 488,326 shares of the technology company’s stock worth $10,426,000 after purchasing an additional 5,689 shares during the period. Vest Financial LLC boosted its stake in Hewlett Packard Enterprise by 25.5% in the 4th quarter. Vest Financial LLC now owns 26,951 shares of the technology company’s stock worth $575,000 after purchasing an additional 5,470 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Hewlett Packard Enterprise by 11.5% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 142,835 shares of the technology company’s stock valued at $3,050,000 after buying an additional 14,720 shares during the period. Finally, Tandem Financial LLC purchased a new stake in shares of Hewlett Packard Enterprise in the fourth quarter worth about $32,000. 80.78% of the stock is owned by institutional investors.

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.