Meyer Handelman Co. Reduces Stock Holdings in Hewlett Packard Enterprise (NYSE:HPE)

Meyer Handelman Co. reduced its position in shares of Hewlett Packard Enterprise (NYSE:HPE) by 1.7% in the fourth quarter, HoldingsChannel reports. The firm owned 184,064 shares of the technology company’s stock after selling 3,110 shares during the quarter. Meyer Handelman Co.’s holdings in Hewlett Packard Enterprise were worth $3,930,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Avior Wealth Management LLC grew its position in Hewlett Packard Enterprise by 6.4% during the third quarter. Avior Wealth Management LLC now owns 9,665 shares of the technology company’s stock valued at $198,000 after buying an additional 579 shares during the period. Werba Rubin Papier Wealth Management boosted its stake in shares of Hewlett Packard Enterprise by 2.5% during the 3rd quarter. Werba Rubin Papier Wealth Management now owns 23,583 shares of the technology company’s stock worth $483,000 after acquiring an additional 581 shares during the last quarter. Cutter & CO Brokerage Inc. grew its position in shares of Hewlett Packard Enterprise by 4.4% during the 3rd quarter. Cutter & CO Brokerage Inc. now owns 13,924 shares of the technology company’s stock valued at $285,000 after acquiring an additional 589 shares during the period. Elo Mutual Pension Insurance Co increased its stake in shares of Hewlett Packard Enterprise by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 119,347 shares of the technology company’s stock worth $2,527,000 after purchasing an additional 598 shares in the last quarter. Finally, Rise Advisors LLC raised its holdings in Hewlett Packard Enterprise by 45.5% in the 3rd quarter. Rise Advisors LLC now owns 1,999 shares of the technology company’s stock worth $41,000 after purchasing an additional 625 shares during the period. Hedge funds and other institutional investors own 80.78% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Citigroup raised Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and boosted their price target for the company from $23.00 to $26.00 in a report on Friday, December 6th. Bank of America upgraded Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $21.00 to $24.00 in a research note on Tuesday, September 17th. Loop Capital raised their target price on shares of Hewlett Packard Enterprise from $18.00 to $24.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Raymond James raised shares of Hewlett Packard Enterprise from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $23.00 to $29.00 in a report on Monday, November 18th. Finally, Morgan Stanley raised shares of Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $23.00 to $28.00 in a research note on Thursday, December 5th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $24.00.

Hewlett Packard Enterprise Stock Up 2.3 %

HPE opened at $22.48 on Wednesday. The company has a market capitalization of $29.57 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20. The firm has a 50-day simple moving average of $21.75 and a two-hundred day simple moving average of $20.26. The company has a quick ratio of 0.99, a current ratio of 1.29 and a debt-to-equity ratio of 0.54. Hewlett Packard Enterprise has a 52 week low of $14.47 and a 52 week high of $24.24.

Hewlett Packard Enterprise Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Friday, December 20th will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Friday, December 20th. Hewlett Packard Enterprise’s payout ratio is presently 27.37%.

Insider Buying and Selling at Hewlett Packard Enterprise

In other news, SVP Jeremy Cox sold 11,577 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $23.00, for a total transaction of $266,271.00. Following the completion of the transaction, the senior vice president now directly owns 48,615 shares in the company, valued at approximately $1,118,145. This represents a 19.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary M. Reiner sold 50,000 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $23.47, for a total transaction of $1,173,500.00. Following the completion of the sale, the director now owns 104,192 shares in the company, valued at $2,445,386.24. This represents a 32.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 332,166 shares of company stock worth $7,300,629 in the last quarter. 0.40% of the stock is owned by corporate insiders.

Hewlett Packard Enterprise Profile

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.