Summit Trail Advisors LLC Sells 1,338 Shares of Hewlett Packard Enterprise (NYSE:HPE)

Summit Trail Advisors LLC cut its stake in shares of Hewlett Packard Enterprise (NYSE:HPE) by 6.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,562 shares of the technology company’s stock after selling 1,338 shares during the quarter. Summit Trail Advisors LLC’s holdings in Hewlett Packard Enterprise were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Investment Counsel Inc grew its holdings in Hewlett Packard Enterprise by 1.2% during the 2nd quarter. Capital Investment Counsel Inc now owns 41,269 shares of the technology company’s stock worth $874,000 after acquiring an additional 500 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in Hewlett Packard Enterprise by 4.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 10,933 shares of the technology company’s stock worth $231,000 after acquiring an additional 501 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Hewlett Packard Enterprise by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 111,617 shares of the technology company’s stock worth $2,363,000 after acquiring an additional 536 shares during the last quarter. Avior Wealth Management LLC grew its holdings in Hewlett Packard Enterprise by 6.4% during the 3rd quarter. Avior Wealth Management LLC now owns 9,665 shares of the technology company’s stock worth $198,000 after acquiring an additional 579 shares during the last quarter. Finally, Bailard Inc. grew its holdings in Hewlett Packard Enterprise by 1.7% during the 2nd quarter. Bailard Inc. now owns 35,349 shares of the technology company’s stock worth $748,000 after acquiring an additional 580 shares during the last quarter. 80.78% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Bank of America raised shares of Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $21.00 to $24.00 in a report on Tuesday, September 17th. Susquehanna reaffirmed a “neutral” rating and issued a $20.00 price objective on shares of Hewlett Packard Enterprise in a research note on Friday, October 11th. Citigroup upped their price objective on shares of Hewlett Packard Enterprise from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, November 19th. Loop Capital upped 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. Finally, Barclays raised shares of Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $20.00 to $24.00 in a research note on Wednesday, September 25th. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.21.

Hewlett Packard Enterprise Stock Performance

HPE opened at $22.11 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.62 and a debt-to-equity ratio of 0.36. The company’s fifty day moving average price is $20.53 and its two-hundred day moving average price is $19.70. Hewlett Packard Enterprise has a 1-year low of $14.47 and a 1-year high of $22.82. The company has a market cap of $28.71 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 3.45 and a beta of 1.19.

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

Hewlett Packard Enterprise Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Thursday, September 19th were issued a dividend of $0.13 per share. The ex-dividend date was Thursday, September 19th. This represents a $0.52 annualized dividend and a yield of 2.35%. Hewlett Packard Enterprise’s payout ratio is 37.14%.

Insider Activity

In related news, EVP Neil B. Macdonald sold 29,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $17.00, for a total transaction of $493,000.00. Following the completion of the transaction, the executive vice president now owns 82,061 shares in the company, valued at approximately $1,395,037. This represents a 26.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Antonio F. Neri sold 83,334 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $19.72, for a total transaction of $1,643,346.48. Following the transaction, the chief executive officer now owns 1,758,641 shares of the company’s stock, valued at approximately $34,680,400.52. The trade was a 4.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 426,012 shares of company stock worth $8,599,617 over the last quarter. Insiders own 0.40% of the company’s stock.

About Hewlett Packard Enterprise

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.