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New Mexico Educational Retirement Board Cuts Stake in Hewlett Packard Enterprise (NYSE:HPE)

Defense World · Oct 5, 2022 04:42

New Mexico Educational Retirement Board cut its stake in Hewlett Packard Enterprise (NYSE:HPE – Get Rating) by 4.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,708 shares of the technology company's stock after selling 3,500 shares during the quarter. New Mexico Educational Retirement Board's holdings in Hewlett Packard Enterprise were worth $951,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in HPE. GSA Capital Partners LLP purchased a new position in Hewlett Packard Enterprise in the fourth quarter valued at about $216,000. Adage Capital Partners GP L.L.C. grew its stake in shares of Hewlett Packard Enterprise by 13.1% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,393,836 shares of the technology company's stock valued at $21,981,000 after acquiring an additional 161,200 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Hewlett Packard Enterprise by 162.1% during the fourth quarter. Cetera Investment Advisers now owns 52,130 shares of the technology company's stock valued at $822,000 after acquiring an additional 32,243 shares in the last quarter. Credit Agricole S A grew its stake in shares of Hewlett Packard Enterprise by 14.8% during the fourth quarter. Credit Agricole S A now owns 8,206 shares of the technology company's stock valued at $130,000 after acquiring an additional 1,061 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Hewlett Packard Enterprise by 547.8% during the fourth quarter. Marshall Wace LLP now owns 1,251,668 shares of the technology company's stock valued at $19,738,000 after acquiring an additional 1,058,438 shares in the last quarter. 82.09% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several brokerages have recently weighed in on HPE. Morgan Stanley lowered their target price on Hewlett Packard Enterprise from $15.00 to $14.00 and set an "underweight" rating for the company in a research note on Wednesday, August 31st. Raymond James reiterated an "outperform" rating and issued a $19.00 price target (down from $20.00) on shares of Hewlett Packard Enterprise in a research note on Tuesday, June 21st. Evercore ISI decreased their price target on Hewlett Packard Enterprise from $21.00 to $18.00 and set an "outperform" rating for the company in a research note on Tuesday, June 28th. Deutsche Bank Aktiengesellschaft decreased their price target on Hewlett Packard Enterprise from $16.00 to $15.00 and set a "hold" rating for the company in a research note on Wednesday, August 31st. Finally, JPMorgan Chase & Co. decreased their price target on Hewlett Packard Enterprise from $18.00 to $16.00 and set an "overweight" rating for the company in a research note on Thursday, July 14th. Three analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $16.59.

Hewlett Packard Enterprise Stock Performance

Shares of HPE stock opened at $12.85 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 0.92 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average of $13.63 and a two-hundred day moving average of $14.51. Hewlett Packard Enterprise has a 52 week low of $11.90 and a 52 week high of $17.76. The company has a market cap of $16.53 billion, a P/E ratio of 4.59, a PEG ratio of 2.56 and a beta of 1.16.

Hewlett Packard Enterprise (NYSE:HPE – Get Rating) last issued its earnings results on Tuesday, August 30th. The technology company reported $0.48 EPS for the quarter, meeting analysts' consensus estimates of $0.48. Hewlett Packard Enterprise had a return on equity of 18.25% and a net margin of 13.31%. The company had revenue of $6.95 billion during the quarter, compared to the consensus estimate of $6.97 billion. During the same period in the previous year, the firm posted $0.29 earnings per share. Hewlett Packard Enterprise's quarterly revenue was up .8% compared to the same quarter last year. As a group, analysts anticipate that Hewlett Packard Enterprise will post 1.28 EPS for the current year.

Hewlett Packard Enterprise Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Monday, September 12th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, September 9th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.74%. Hewlett Packard Enterprise's dividend payout ratio (DPR) is presently 17.14%.

Insider Activity

In other news, CEO Irv Rothman sold 70,115 shares of Hewlett Packard Enterprise stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $13.33, for a total transaction of $934,632.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.45% of the company's stock.

Hewlett Packard Enterprise Company Profile

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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. The company offers general purpose servers for multi-workload computing and workload-optimized servers; HPE ProLiant rack and tower servers; HPE BladeSystem and HPE Synergy; and solutions for secondary workloads and traditional tape, storage networking, and disk products, such as HPE Modular Storage Arrays and HPE XP.