Investors Buy Shares of Hewlett Packard Enterprise (HPE) on Weakness

Investors bought shares of Hewlett Packard Enterprise (NYSE:HPE) on weakness during trading on Wednesday. $35.27 million flowed into the stock on the tick-up and $11.32 million flowed out of the stock on the tick-down, for a money net flow of $23.95 million into the stock. Of all stocks tracked, Hewlett Packard Enterprise had the 28th highest net in-flow for the day. Hewlett Packard Enterprise traded down ($0.07) for the day and closed at $17.68

HPE has been the topic of several research analyst reports. Loop Capital upgraded Hewlett Packard Enterprise from a “hold” rating to a “buy” rating in a research note on Tuesday, February 20th. Zacks Investment Research cut Hewlett Packard Enterprise from a “buy” rating to a “hold” rating in a research note on Tuesday, April 3rd. Deutsche Bank raised their price objective on Hewlett Packard Enterprise from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. JPMorgan Chase initiated coverage on Hewlett Packard Enterprise in a research note on Friday, March 2nd. They set a “neutral” rating and a $21.00 price objective on the stock. Finally, UBS restated a “neutral” rating and set a $19.00 price objective (up from $15.00) on shares of Hewlett Packard Enterprise in a research note on Friday, February 23rd. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have issued a buy rating to the company. Hewlett Packard Enterprise has an average rating of “Hold” and a consensus target price of $17.38.

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The firm has a market cap of $27,704.56, a P/E ratio of 18.14, a price-to-earnings-growth ratio of 1.48 and a beta of 1.86. The company has a quick ratio of 0.93, a current ratio of 1.06 and a debt-to-equity ratio of 0.42.

Hewlett Packard Enterprise (NYSE:HPE) last issued its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.12. The company had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.07 billion. Hewlett Packard Enterprise had a return on equity of 7.40% and a net margin of 4.52%. The company’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period last year, the company earned $0.45 earnings per share. research analysts anticipate that Hewlett Packard Enterprise will post 1.4 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 4th. Investors of record on Wednesday, June 13th will be issued a dividend of $0.1125 per share. This is a positive change from Hewlett Packard Enterprise’s previous quarterly dividend of $0.08. This represents a $0.45 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Tuesday, June 12th. Hewlett Packard Enterprise’s payout ratio is presently 31.25%.

Hewlett Packard Enterprise declared that its board has initiated a share repurchase program on Thursday, February 22nd that permits the company to buyback $5.50 billion in outstanding shares. This buyback authorization permits the technology company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

In related news, Director Margaret C. Whitman sold 674,000 shares of Hewlett Packard Enterprise stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $19.14, for a total value of $12,900,360.00. Following the transaction, the director now owns 2,167,693 shares of the company’s stock, valued at approximately $41,489,644.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Margaret C. Whitman sold 337,000 shares of Hewlett Packard Enterprise stock in a transaction dated Thursday, April 5th. The stock was sold at an average price of $17.26, for a total value of $5,816,620.00. Following the completion of the transaction, the director now directly owns 1,889,514 shares in the company, valued at approximately $32,613,011.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,693,755 shares of company stock worth $101,280,848. 1.18% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of HPE. DnB Asset Management AS increased its holdings in shares of Hewlett Packard Enterprise by 12.1% in the fourth quarter. DnB Asset Management AS now owns 4,858,318 shares of the technology company’s stock worth $69,765,000 after acquiring an additional 523,685 shares in the last quarter. Daiwa SB Investments Ltd. acquired a new position in shares of Hewlett Packard Enterprise in the 4th quarter valued at about $156,000. KCS Wealth Advisory acquired a new position in shares of Hewlett Packard Enterprise in the 4th quarter valued at about $161,000. BLB&B Advisors LLC lifted its stake in shares of Hewlett Packard Enterprise by 41.7% in the 4th quarter. BLB&B Advisors LLC now owns 17,159 shares of the technology company’s stock valued at $246,000 after purchasing an additional 5,050 shares during the period. Finally, Bank of Montreal Can lifted its stake in shares of Hewlett Packard Enterprise by 23.4% in the 4th quarter. Bank of Montreal Can now owns 1,015,577 shares of the technology company’s stock valued at $14,584,000 after purchasing an additional 192,576 shares during the period. 83.02% of the stock is currently owned by hedge funds and other institutional investors.

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About Hewlett Packard Enterprise

Hewlett Packard Enterprise Company is a provider of technology solutions. The Company’s segments include: Enterprise Group, Software, Financial Services and Corporate Investments. The Enterprise Group segment provides its customers with the technology infrastructure they need to optimize traditional information technology (IT).

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