State of Michigan Retirement System Raises Stock Holdings in Hewlett Packard Enterprise (NYSE:HPE)

State of Michigan Retirement System boosted its position in shares of Hewlett Packard Enterprise (NYSE:HPE) by 1.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 495,581 shares of the technology company’s stock after acquiring an additional 5,000 shares during the quarter. State of Michigan Retirement System’s holdings in Hewlett Packard Enterprise were worth $8,787,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Rise Advisors LLC raised its stake in shares of Hewlett Packard Enterprise by 253.9% during the first quarter. Rise Advisors LLC now owns 1,465 shares of the technology company’s stock valued at $26,000 after acquiring an additional 1,051 shares during the last quarter. Salem Investment Counselors Inc. raised its position in Hewlett Packard Enterprise by 180.1% during the 4th quarter. Salem Investment Counselors Inc. now owns 1,961 shares of the technology company’s stock valued at $33,000 after purchasing an additional 1,261 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in Hewlett Packard Enterprise in the 4th quarter worth approximately $35,000. American National Bank grew its position in shares of Hewlett Packard Enterprise by 89.4% in the 1st quarter. American National Bank now owns 1,949 shares of the technology company’s stock worth $35,000 after buying an additional 920 shares during the last quarter. Finally, Founders Financial Alliance LLC increased its stake in shares of Hewlett Packard Enterprise by 52.8% during the fourth quarter. Founders Financial Alliance LLC now owns 2,463 shares of the technology company’s stock valued at $42,000 after buying an additional 851 shares during the period. Institutional investors own 80.78% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on HPE shares. Stifel Nicolaus lifted their price target on shares of Hewlett Packard Enterprise from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. Sanford C. Bernstein lifted their target price on shares of Hewlett Packard Enterprise from $17.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday, June 5th. Argus upgraded shares of Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Friday, June 7th. Susquehanna raised their price objective on shares of Hewlett Packard Enterprise from $14.00 to $20.00 and gave the stock a “neutral” rating in a report on Wednesday, June 5th. Finally, Wells Fargo & Company upped their target price on Hewlett Packard Enterprise from $19.00 to $22.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 5th. Eight equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Hewlett Packard Enterprise has a consensus rating of “Hold” and a consensus target price of $21.08.

Hewlett Packard Enterprise Stock Down 0.2 %

Shares of NYSE HPE traded down $0.05 during trading on Tuesday, reaching $21.12. The company had a trading volume of 11,758,492 shares, compared to its average volume of 16,337,517. Hewlett Packard Enterprise has a 12-month low of $14.47 and a 12-month high of $22.82. The company has a quick ratio of 0.59, a current ratio of 0.90 and a debt-to-equity ratio of 0.34. The business’s 50-day moving average is $18.83 and its 200 day moving average is $17.36. The stock has a market cap of $27.44 billion, a PE ratio of 15.40, a P/E/G ratio of 3.06 and a beta of 1.19.

Hewlett Packard Enterprise (NYSE:HPE) last announced its quarterly earnings data on Tuesday, June 4th. The technology company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.39 by $0.03. The company had revenue of $7.20 billion for the quarter, compared to the consensus estimate of $6.82 billion. Hewlett Packard Enterprise had a net margin of 6.38% and a return on equity of 8.49%. Hewlett Packard Enterprise’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 EPS. As a group, equities analysts forecast that Hewlett Packard Enterprise will post 1.59 earnings per share for the current fiscal year.

Hewlett Packard Enterprise Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Wednesday, June 19th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $0.52 annualized dividend and a yield of 2.46%. Hewlett Packard Enterprise’s dividend payout ratio is 37.96%.

Insiders Place Their Bets

In other news, CEO Gerri Gold sold 22,784 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $21.67, for a total transaction of $493,729.28. Following the transaction, the chief executive officer now directly owns 57,081 shares of the company’s stock, valued at $1,236,945.27. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Gerri Gold sold 22,784 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $21.67, for a total transaction of $493,729.28. Following the completion of the transaction, the chief executive officer now directly owns 57,081 shares of the company’s stock, valued at $1,236,945.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kirt P. Karros sold 30,686 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $20.49, for a total transaction of $628,756.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 158,464 shares of company stock valued at $3,160,866. Corporate insiders own 0.40% of the company’s stock.

Hewlett Packard Enterprise Company 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.