Hewlett Packard Enterprise (HPE) Position Lessened by Clifford Swan Investment Counsel LLC
Clifford Swan Investment Counsel LLC trimmed its holdings in shares of Hewlett Packard Enterprise (NYSE:HPE) by 4.1% in the first quarter, Holdings Channel reports. The firm owned 1,269,001 shares of the technology company’s stock after selling 53,654 shares during the period. Hewlett Packard Enterprise comprises 1.3% of Clifford Swan Investment Counsel LLC’s investment portfolio, making the stock its 21st largest holding. Clifford Swan Investment Counsel LLC’s holdings in Hewlett Packard Enterprise were worth $22,258,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. Clear Harbor Asset Management LLC acquired a new position in Hewlett Packard Enterprise in the 4th quarter valued at about $158,000. Empirical Financial Services LLC acquired a new position in Hewlett Packard Enterprise in the 4th quarter valued at about $159,000. Wade G W & Inc. acquired a new position in Hewlett Packard Enterprise in the 1st quarter valued at about $187,000. John G Ullman & Associates Inc. acquired a new position in Hewlett Packard Enterprise in the 4th quarter valued at about $195,000. Finally, Stuart Chaussee & Associates Inc. acquired a new position in Hewlett Packard Enterprise in the 4th quarter valued at about $202,000. 81.85% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have weighed in on the company. Zacks Investment Research downgraded Hewlett Packard Enterprise from a “strong-buy” rating to a “hold” rating in a research report on Friday, March 16th. JPMorgan Chase assumed coverage on Hewlett Packard Enterprise in a research report on Friday, March 2nd. They issued a “neutral” rating and a $21.00 target price for the company. BMO Capital Markets lifted their target price on Hewlett Packard Enterprise from $14.00 to $19.00 and gave the company a “market perform” rating in a research report on Friday, February 23rd. UBS reaffirmed a “neutral” rating and issued a $19.00 target price (up from $15.00) on shares of Hewlett Packard Enterprise in a research report on Friday, February 23rd. Finally, Deutsche Bank lifted their target price on Hewlett Packard Enterprise from $19.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $17.38.
HPE stock opened at $17.63 on Thursday. The company has a market cap of $27.56 billion, a P/E ratio of 18.36, a price-to-earnings-growth ratio of 1.48 and a beta of 1.87. Hewlett Packard Enterprise has a fifty-two week low of $17.38 and a fifty-two week high of $17.44. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.06 and a quick ratio of 0.93.
Hewlett Packard Enterprise (NYSE:HPE) last posted its earnings results on Thursday, February 22nd. The technology company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.12. The firm had revenue of $7.70 billion during the quarter, compared to analysts’ expectations of $7.07 billion. Hewlett Packard Enterprise had a return on equity of 7.40% and a net margin of 4.52%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.45 earnings per share. sell-side analysts anticipate that Hewlett Packard Enterprise will post 1.4 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 4th. Investors of record on Wednesday, June 13th will be paid a dividend of $0.1125 per share. This is a boost from Hewlett Packard Enterprise’s previous quarterly dividend of $0.08. The ex-dividend date is Tuesday, June 12th. This represents a $0.45 annualized dividend and a yield of 2.55%. Hewlett Packard Enterprise’s payout ratio is presently 31.25%.
Hewlett Packard Enterprise announced that its board has authorized a stock repurchase program on Thursday, February 22nd that allows the company to buyback $5.50 billion in shares. This buyback authorization allows the technology company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
About Hewlett Packard Enterprise
Hewlett Packard Enterprise Company provides technology solutions to business and public sector enterprises. It operates through Enterprise Group, Financial Services, and Corporate Investments segments. The Enterprise Group segment offers industry standard servers and mission-critical servers to address the array of its customers' computing needs; converged storage solutions, including 3PAR StoreServ, StoreOnce, and StoreVirtual products, as well as traditional storage solutions, such as tape, storage networking, and legacy external disk products for enterprise and small- and medium-size business; software-defined switches, routers, wireless local area network equipment, network virtualization equipment, security software, location-based services, and network management products; and data center care, proactive care, and technology consulting services, as well as Aruba Services, and communications and media solutions.
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