Palisade Asset Management LLC Trims Holdings in Hewlett Packard Enterprise Co (HPE)

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Palisade Asset Management LLC reduced its holdings in shares of Hewlett Packard Enterprise Co (NYSE:HPE) by 7.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,032 shares of the technology company’s stock after selling 1,808 shares during the period. Palisade Asset Management LLC’s holdings in Hewlett Packard Enterprise were worth $355,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in HPE. BlackRock Inc. increased its stake in shares of Hewlett Packard Enterprise by 0.5% in the fourth quarter. BlackRock Inc. now owns 96,939,177 shares of the technology company’s stock worth $1,280,567,000 after purchasing an additional 525,859 shares in the last quarter. LSV Asset Management increased its stake in shares of Hewlett Packard Enterprise by 1.3% in the fourth quarter. LSV Asset Management now owns 20,111,279 shares of the technology company’s stock worth $265,669,000 after purchasing an additional 250,297 shares in the last quarter. Northern Trust Corp increased its stake in shares of Hewlett Packard Enterprise by 0.4% in the fourth quarter. Northern Trust Corp now owns 17,801,618 shares of the technology company’s stock worth $235,160,000 after purchasing an additional 78,441 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Hewlett Packard Enterprise by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 17,794,119 shares of the technology company’s stock worth $234,707,000 after purchasing an additional 384,154 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its stake in Hewlett Packard Enterprise by 1,735.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 15,653,295 shares of the technology company’s stock valued at $1,185,000 after acquiring an additional 14,800,633 shares in the last quarter. 82.92% of the stock is owned by institutional investors and hedge funds.

In other Hewlett Packard Enterprise news, SVP Kirt P. Karros sold 14,126 shares of the stock in a transaction on Friday, January 25th. The shares were sold at an average price of $15.00, for a total transaction of $211,890.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Philip Davis sold 13,974 shares of the stock in a transaction on Friday, January 25th. The shares were sold at an average price of $15.00, for a total transaction of $209,610.00. Following the transaction, the insider now owns 67,508 shares of the company’s stock, valued at approximately $1,012,620. The disclosure for this sale can be found here. Insiders have sold 1,702,360 shares of company stock valued at $27,895,760 in the last quarter. 0.56% of the stock is owned by company insiders.

HPE opened at $16.49 on Tuesday. The firm has a market cap of $22.47 billion, a P/E ratio of 10.57, a P/E/G ratio of 1.58 and a beta of 1.58. Hewlett Packard Enterprise Co has a fifty-two week low of $12.09 and a fifty-two week high of $17.88. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.94 and a quick ratio of 0.80.

Hewlett Packard Enterprise (NYSE:HPE) last released its quarterly earnings data on Thursday, February 21st. The technology company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.07. Hewlett Packard Enterprise had a net margin of 2.11% and a return on equity of 11.31%. The business had revenue of $7.55 billion during the quarter, compared to analyst estimates of $7.68 billion. During the same quarter last year, the business earned $0.34 earnings per share. As a group, research analysts predict that Hewlett Packard Enterprise Co will post 1.64 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Wednesday, June 12th will be given a dividend of $0.1125 per share. The ex-dividend date is Tuesday, June 11th. This represents a $0.45 annualized dividend and a yield of 2.73%. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is currently 28.85%.

Several research firms recently weighed in on HPE. Credit Suisse Group began coverage on shares of Hewlett Packard Enterprise in a research note on Thursday, April 11th. They set an “underperform” rating and a $14.00 target price for the company. Daiwa Capital Markets began coverage on shares of Hewlett Packard Enterprise in a research note on Monday, April 1st. They set a “hold” rating and a $16.00 target price for the company. UBS Group cut shares of Hewlett Packard Enterprise from a “neutral” rating to a “sell” rating and cut their target price for the company from $17.00 to $13.00 in a research note on Tuesday, March 12th. ValuEngine cut shares of Hewlett Packard Enterprise from a “hold” rating to a “sell” rating in a research note on Thursday, February 28th. Finally, Zacks Investment Research raised shares of Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Tuesday, February 26th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $16.92.

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Hewlett Packard Enterprise Profile

Hewlett Packard Enterprise Company operates as a technology company. The company operates through four segments: Hybrid IT, Intelligent Edge, Financial Services, and Corporate Investments. The Hybrid IT segment provides industry standard servers for multi-workload computing; mission-critical servers; converged storage solutions, including all-flash arrays and hybrid storage solutions; and traditional storage solutions comprising tape, storage networking, and disk products, such as HPE MSA and HPE XP.

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Institutional Ownership by Quarter for Hewlett Packard Enterprise (NYSE:HPE)

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