Fisher Funds Management LTD has established a new position in Hewlett Packard Enterprise Company (NYSE:HPE) by purchasing 53,694 shares valued at approximately $1.3 million. This acquisition occurred during the third quarter, as disclosed in the company’s recent filing with the Securities and Exchange Commission. The move highlights increasing interest among institutional investors in the technology sector.
Several hedge funds have also adjusted their stakes in Hewlett Packard Enterprise. TFC Financial Management Inc. significantly increased its holdings by 2,694.4%, now owning 1,006 shares worth $25,000 after acquiring an additional 970 shares. Other notable changes include a new position from Headlands Technologies LLC, which valued at around $26,000, and a 126.7% boost in holdings by CVA Family Office LLC, bringing its total to 1,437 shares valued at $29,000.
Hantz Financial Services Inc. and Hilltop National Bank also expanded their positions in the company, with the former increasing its holdings by 74.4% and the latter purchasing a stake worth about $35,000. Institutional and hedge fund ownership now constitutes approximately 80.78% of Hewlett Packard Enterprise’s stock.
Analyst Ratings and Market Performance
Hewlett Packard Enterprise has recently been under the scrutiny of analysts, with several reports issued regarding the company’s stock. UBS Group raised its price target from $23.00 to $25.00, maintaining a “neutral” rating. Barclays followed suit, increasing its target from $26.00 to $27.00 with an “overweight” designation. Morgan Stanley reiterated an “equal weight” rating with a revised target of $25.00, previously set at $28.00.
Argus recently lifted its price objective from $25.00 to $30.00, assigning a “buy” rating. Notably, The Goldman Sachs Group initiated coverage on the company with a “buy” rating and a price target of $31.00. The consensus rating among analysts currently stands at “Hold,” with a price target averaging $25.53.
In terms of recent stock performance, shares of Hewlett Packard Enterprise opened at $21.45 and have shown a market capitalization of $28.63 billion. The company has a price-to-earnings ratio of -357.44 and a beta of 1.32. Over the past year, the stock has fluctuated between a low of $11.97 and a high of $26.44.
Recent Transactions and Corporate Developments
In internal transactions, SVP Kirt P. Karros sold 36,460 shares on December 24, 2023, at an average price of $24.61, totaling approximately $897,280.60. Following this sale, he retained 18,785 shares valued at around $462,298.85. This transaction marked a significant reduction in his ownership by 66.00%.
Similarly, EVP Maeve C. Culloty sold 35,958 shares on December 11, 2023, for about $886,724.28. In total, insiders sold 585,537 shares of the company during the last quarter, amounting to approximately $14.25 million. Corporate insiders hold a mere 0.36% of the company’s stock.
Hewlett Packard Enterprise also announced a quarterly dividend, which was paid on January 16, 2024. Shareholders of record on December 19, 2023, received a dividend of $0.1425 per share, translating to an annualized dividend of $0.57 and a yield of 2.7%. This increase from the previous quarterly dividend of $0.13 reflects the company’s ongoing commitment to returning value to its shareholders.
The company’s focus remains on enhancing its offerings in enterprise technology, which includes IT infrastructure, software, and services aimed at business and government clients. With a strong emphasis on hybrid cloud and consumption-based IT solutions, Hewlett Packard Enterprise continues to adapt to the evolving demands of the technology landscape.
