Primecap Management Co. CA Sells 218,395 Shares of Hewlett Packard Enterprise (NYSE:HPE)

Primecap Management Co. CA lessened its stake in Hewlett Packard Enterprise (NYSE:HPE) by 0.7% during the second quarter, Holdings Channel reports. The firm owned 31,775,271 shares of the technology company’s stock after selling 218,395 shares during the period. Primecap Management Co. CA’s holdings in Hewlett Packard Enterprise were worth $672,682,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Rise Advisors LLC lifted its holdings in shares of Hewlett Packard Enterprise by 253.9% in the first quarter. Rise Advisors LLC now owns 1,465 shares of the technology company’s stock valued at $26,000 after purchasing an additional 1,051 shares in the last quarter. Hazlett Burt & Watson Inc. increased its position in shares of Hewlett Packard Enterprise by 571.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 1,343 shares of the technology company’s stock valued at $28,000 after acquiring an additional 1,143 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Hewlett Packard Enterprise during the second quarter valued at approximately $28,000. Johnson Financial Group Inc. purchased a new stake in shares of Hewlett Packard Enterprise during the fourth quarter valued at approximately $35,000. Finally, American National Bank increased its position in shares of Hewlett Packard Enterprise by 89.4% during the first quarter. American National Bank now owns 1,949 shares of the technology company’s stock valued at $35,000 after acquiring an additional 920 shares during the last quarter. Institutional investors own 80.78% of the company’s stock.

Hewlett Packard Enterprise Price Performance

Hewlett Packard Enterprise stock opened at $17.23 on Tuesday. Hewlett Packard Enterprise has a one year low of $14.47 and a one year high of $22.82. The business has a fifty day moving average price of $18.91 and a 200-day moving average price of $18.59. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.94 and a quick ratio of 0.62. The firm has a market capitalization of $22.39 billion, a P/E ratio of 12.58, a PEG ratio of 1.97 and a beta of 1.19.

Hewlett Packard Enterprise (NYSE:HPE) last posted its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. Hewlett Packard Enterprise had a return on equity of 8.94% and a net margin of 6.39%. The firm had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.67 billion. During the same period last year, the company earned $0.35 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, equities research analysts forecast that Hewlett Packard Enterprise will post 1.66 EPS for the current year.

Hewlett Packard Enterprise Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, September 19th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Thursday, September 19th. Hewlett Packard Enterprise’s payout ratio is currently 37.96%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HPE. Stifel Nicolaus increased their price target on Hewlett Packard Enterprise from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, June 5th. Barclays increased their price target on Hewlett Packard Enterprise from $14.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Evercore ISI increased their price target on Hewlett Packard Enterprise from $18.00 to $22.00 and gave the company an “in-line” rating in a research report on Wednesday, June 5th. Sanford C. Bernstein increased their price target on Hewlett Packard Enterprise from $17.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, June 5th. Finally, Wells Fargo & Company increased their price target on Hewlett Packard Enterprise from $19.00 to $22.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 5th. Nine research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.83.

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.