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

Primecap Management Co. CA lowered its stake in Hewlett Packard Enterprise (NYSE:HPE) by 7.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 28,902,400 shares of the technology company’s stock after selling 2,452,456 shares during the period. Primecap Management Co. CA’s holdings in Hewlett Packard Enterprise were worth $617,066,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of HPE. Mather Group LLC. lifted its position in shares of Hewlett Packard Enterprise by 6.2% in the fourth quarter. Mather Group LLC. now owns 7,557 shares of the technology company’s stock worth $161,000 after purchasing an additional 440 shares in the last quarter. Lakewood Asset Management LLC lifted its position in shares of Hewlett Packard Enterprise by 0.4% in the fourth quarter. Lakewood Asset Management LLC now owns 104,990 shares of the technology company’s stock worth $2,242,000 after purchasing an additional 457 shares in the last quarter. Essex Financial Services Inc. lifted its position in shares of Hewlett Packard Enterprise by 3.6% in the fourth quarter. Essex Financial Services Inc. now owns 13,396 shares of the technology company’s stock worth $286,000 after purchasing an additional 461 shares in the last quarter. Westside Investment Management Inc. lifted its position in shares of Hewlett Packard Enterprise by 0.8% in the fourth quarter. Westside Investment Management Inc. now owns 62,523 shares of the technology company’s stock worth $1,335,000 after purchasing an additional 475 shares in the last quarter. Finally, Aviso Financial Inc. lifted its position in shares of Hewlett Packard Enterprise by 0.9% in the fourth quarter. Aviso Financial Inc. now owns 54,060 shares of the technology company’s stock worth $1,154,000 after purchasing an additional 490 shares in the last quarter. Institutional investors own 80.78% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Citigroup upgraded shares of Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $23.00 to $26.00 in a report on Friday, December 6th. Barclays lowered their target price on shares of Hewlett Packard Enterprise from $27.00 to $20.00 and set an “overweight” rating on the stock in a report on Friday, March 7th. Daiwa Capital Markets downgraded shares of Hewlett Packard Enterprise from an “outperform” rating to a “neutral” rating and set a $16.00 target price on the stock. in a report on Wednesday, March 12th. StockNews.com downgraded shares of Hewlett Packard Enterprise from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Finally, Loop Capital lowered their target price on shares of Hewlett Packard Enterprise from $24.00 to $16.00 and set a “hold” rating on the stock in a report on Monday, March 10th. Nine analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.27.

Hewlett Packard Enterprise Trading Up 1.6 %

Shares of Hewlett Packard Enterprise stock opened at $15.88 on Tuesday. The firm has a 50-day moving average of $20.70 and a 200-day moving average of $20.58. The stock has a market cap 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 52-week low of $14.64 and a 52-week high of $24.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 1.29.

Hewlett Packard Enterprise Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 3.28%. Hewlett Packard Enterprise’s dividend payout ratio is 25.37%.

Insider Buying and Selling

In related news, SVP Jeremy Cox sold 11,577 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $23.00, for a total transaction 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 $1,118,145. This represents a 19.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.36% of the stock is currently owned by company insiders.

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.