Princeton Capital Management LLC Reduces Holdings in Hewlett Packard Enterprise (NYSE:HPE)

Princeton Capital Management LLC lowered its position in Hewlett Packard Enterprise (NYSE:HPE) by 80.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 13,412 shares of the technology company’s stock after selling 53,658 shares during the quarter. Princeton Capital Management LLC’s holdings in Hewlett Packard Enterprise were worth $274,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HPE. Valley Wealth Managers Inc. purchased a new stake in shares of Hewlett Packard Enterprise during the third quarter worth about $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in Hewlett Packard Enterprise during the 2nd quarter valued at approximately $28,000. Hazlett Burt & Watson Inc. grew its stake in Hewlett Packard Enterprise by 571.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,343 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,143 shares in the last quarter. Financial Management Professionals Inc. increased its holdings in Hewlett Packard Enterprise by 80.3% during the 3rd quarter. Financial Management Professionals Inc. now owns 1,430 shares of the technology company’s stock worth $29,000 after purchasing an additional 637 shares during the last quarter. Finally, ORG Partners LLC raised its position in shares of Hewlett Packard Enterprise by 224.5% in the 2nd quarter. ORG Partners LLC now owns 1,853 shares of the technology company’s stock valued at $39,000 after purchasing an additional 1,282 shares in the last quarter. 80.78% of the stock is owned by hedge funds and other institutional investors.

Hewlett Packard Enterprise Price Performance

Shares of HPE opened at $21.39 on Tuesday. Hewlett Packard Enterprise has a 12 month low of $14.47 and a 12 month high of $22.82. 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 stock has a fifty day moving average price of $19.95 and a 200 day moving average price of $19.50. The company has a market cap of $27.77 billion, a P/E ratio of 15.28, a PEG ratio of 3.27 and a beta of 1.19.

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

Hewlett Packard Enterprise Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Thursday, September 19th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, September 19th. This represents a $0.52 annualized dividend and a dividend yield of 2.43%. Hewlett Packard Enterprise’s dividend payout ratio is presently 37.14%.

Analyst Ratings Changes

A number of research firms have commented on HPE. Loop Capital increased their price objective on shares of Hewlett Packard Enterprise from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Monday, September 9th. Deutsche Bank Aktiengesellschaft started coverage on shares of Hewlett Packard Enterprise in a research note on Wednesday, October 9th. They issued a “hold” rating and a $22.00 target price on the stock. Bank of America upgraded Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $21.00 to $24.00 in a research note on Tuesday, September 17th. Raymond James upgraded Hewlett Packard Enterprise from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $23.00 to $29.00 in a research note on Monday. Finally, UBS Group lifted their target price on Hewlett Packard Enterprise from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, September 5th. Nine investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Hewlett Packard Enterprise has a consensus rating of “Hold” and a consensus price target of $22.00.

Insider Buying and Selling

In other news, CEO Antonio F. Neri sold 83,334 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $19.72, for a total value of $1,643,346.48. Following the completion of the transaction, the chief executive officer now owns 1,758,641 shares of the company’s stock, valued at approximately $34,680,400.52. This represents a 4.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Jeremy Cox sold 7,770 shares of Hewlett Packard Enterprise stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $21.00, for a total transaction of $163,170.00. Following the sale, the senior vice president now owns 7,771 shares in the company, valued at approximately $163,191. This represents a 50.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 426,012 shares of company stock valued at $8,599,617 in the last three months. 0.40% of the stock is currently owned by corporate 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.