Prudential Financial Inc. Cuts Position in Hewlett Packard Enterprise Company $HPE

Prudential Financial Inc. decreased its position in Hewlett Packard Enterprise Company (NYSE:HPE) by 70.3% during the 2nd quarter, Holdings Channel reports. The fund owned 769,921 shares of the technology company’s stock after selling 1,820,287 shares during the quarter. Prudential Financial Inc.’s holdings in Hewlett Packard Enterprise were worth $15,745,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of HPE. Avantax Advisory Services Inc. grew its stake in shares of Hewlett Packard Enterprise by 3.9% during the first quarter. Avantax Advisory Services Inc. now owns 49,993 shares of the technology company’s stock worth $771,000 after purchasing an additional 1,864 shares in the last quarter. Cetera Investment Advisers lifted its holdings in Hewlett Packard Enterprise by 14.8% during the 1st quarter. Cetera Investment Advisers now owns 178,470 shares of the technology company’s stock worth $2,754,000 after buying an additional 23,016 shares during the last quarter. LPL Financial LLC boosted its position in shares of Hewlett Packard Enterprise by 3.3% during the 1st quarter. LPL Financial LLC now owns 2,547,970 shares of the technology company’s stock worth $39,315,000 after acquiring an additional 81,735 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Hewlett Packard Enterprise by 9.0% in the 1st quarter. Mackenzie Financial Corp now owns 2,992,477 shares of the technology company’s stock valued at $46,174,000 after acquiring an additional 246,104 shares during the last quarter. Finally, Meeder Advisory Services Inc. raised its position in shares of Hewlett Packard Enterprise by 17.5% during the 1st quarter. Meeder Advisory Services Inc. now owns 20,945 shares of the technology company’s stock worth $323,000 after acquiring an additional 3,123 shares in the last quarter. 80.78% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

HPE has been the topic of several recent analyst reports. Bank of America increased their price target on shares of Hewlett Packard Enterprise from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, September 2nd. Sanford C. Bernstein assumed coverage on shares of Hewlett Packard Enterprise in a research report on Tuesday, September 16th. They issued a “market perform” rating and a $24.00 target price on the stock. The Goldman Sachs Group lifted their price target on shares of Hewlett Packard Enterprise from $27.00 to $31.00 and gave the stock a “neutral” rating in a research note on Thursday, October 16th. Morgan Stanley reissued an “equal weight” rating and issued a $25.00 price target (down from $28.00) on shares of Hewlett Packard Enterprise in a research report on Monday, November 17th. Finally, Raymond James Financial raised their price objective on Hewlett Packard Enterprise from $29.00 to $30.00 and gave the stock a “strong-buy” rating in a report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.24.

Hewlett Packard Enterprise Price Performance

Hewlett Packard Enterprise stock opened at $21.52 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.95 and a quick ratio of 0.69. The business has a 50 day simple moving average of $23.63 and a 200-day simple moving average of $21.43. Hewlett Packard Enterprise Company has a 12 month low of $11.97 and a 12 month high of $26.44. The stock has a market capitalization of $28.40 billion, a PE ratio of 26.25, a price-to-earnings-growth ratio of 0.86 and a beta of 1.43.

Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings data on Wednesday, September 3rd. The technology company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.09). The firm had revenue of $9.14 billion during the quarter, compared to analyst estimates of $8.77 billion. Hewlett Packard Enterprise had a net margin of 3.77% and a return on equity of 9.01%. The business’s quarterly revenue was up 19.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 earnings per share. Hewlett Packard Enterprise has set its FY 2025 guidance at 1.880-1.920 EPS. Q4 2025 guidance at 0.560-0.600 EPS. Equities analysts predict that Hewlett Packard Enterprise Company will post 1.85 earnings per share for the current year.

Hewlett Packard Enterprise Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 17th. Investors of record on Thursday, September 18th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Thursday, September 18th. Hewlett Packard Enterprise’s dividend payout ratio is currently 63.41%.

Insider Activity at Hewlett Packard Enterprise

In other news, EVP Maeve C. Culloty sold 3,738 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $25.12, for a total transaction of $93,898.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gary M. Reiner sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $24.58, for a total value of $983,200.00. Following the completion of the sale, the director directly owned 83,869 shares of the company’s stock, valued at $2,061,500.02. This represents a 32.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 293,738 shares of company stock worth $7,252,098 over the last 90 days. Company insiders own 0.36% of the company’s stock.

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.