iA Global Asset Management Increases Stake in Hewlett Packard Enterprise

iA Global Asset Management Inc. has increased its investment in Hewlett Packard Enterprise (NYSE:HPE) by 17.6% during the third quarter, as reported in its latest Form 13F filing with the SEC. The institutional investor now holds 170,649 shares of the technology company after acquiring an additional 25,491 shares during this period. At the end of the most recent reporting cycle, these holdings were valued at approximately $3,491,000.

Changes by Other Investors

Alongside iA Global Asset Management, several other institutional investors and hedge funds have made adjustments to their stakes in HPE. RPg Family Wealth Advisory LLC took a new position in Hewlett Packard Enterprise during the third quarter, investing about $25,000. Valley Wealth Managers Inc. also acquired new shares valued at approximately $26,000 during the same period. In a significant move, Hazlett Burt & Watson Inc. enhanced its position in HPE by 571.5% in the second quarter, ending up with 1,343 shares worth around $28,000 after an additional purchase of 1,143 shares. Ashton Thomas Private Wealth LLC also took a new stake in the second quarter valued at $28,000. Financial Management Professionals Inc. increased their investment by 80.3% in the third quarter, bringing their total to 1,430 shares worth $29,000 after buying 637 more shares. Overall, 80.78% of Hewlett Packard Enterprise's stock is held by institutional investors and hedge funds.

Analysts' Growth Predictions

Recent analysis by equity research firms indicates optimistic growth potential for Hewlett Packard Enterprise. Stifel Nicolaus adjusted their target price from $22.00 to $25.00 and rated the stock as a "buy." Citigroup also raised their forecast, moving from a "neutral" to a "buy" rating and increasing their price target from $23.00 to $26.00. Furthermore, Deutsche Bank Aktiengesellschaft began coverage with a "hold" rating and a target price of $22.00. Barclays revised their outlook by increasing the price objective from $24.00 to $27.00 while assigning an "overweight" rating. Bank of America likewise upgraded the stock from "neutral" to "buy" with a new price target of $24.00. Currently, seven analysts have given HPE a hold rating, while another seven have classified it as a buy, resulting in an average rating of "Moderate Buy" and a consensus target price of $23.36.

Recent Insider Trades

In other company news, CEO Antonio F. Neri sold 83,334 shares of Hewlett Packard Enterprise on September 25th for an average price of $19.72, totaling approximately $1,643,346.48. After this transaction, Neri retains ownership of 1,758,641 shares worth around $34,680,400.52, marking a 4.52% decrease in his ownership of the stock. Additionally, EVP Neil B. Macdonald sold 29,000 shares on September 13th at an average price of $17.00, equating to a total of $493,000.00, leading to a 26.11% drop in his position, with remaining shares valued at about $1,395,037. In total, company insiders have sold 426,012 shares worth $8,599,617 in the last three months, which amounts to 0.40% of the stock being owned by insiders currently.

Hewlett Packard Enterprise Stock Overview

On the market front, shares of Hewlett Packard Enterprise opened at $23.95. The company trades with a 50-day moving average price of $20.90 and a 200-day moving average price of $19.90. With a market capitalization of $31.10 billion, HPE has a P/E ratio of 12.61 and a PEG ratio of 3.40. The company has experienced a one-year low of $14.47 and a high of $24.24. Financial strength indicators include a debt-to-equity ratio of 0.36, a current ratio of 0.94, and a quick ratio of 0.62.

Hewlett Packard Enterprise announced its quarterly earnings on September 4th, reporting earnings per share (EPS) of $0.50, surpassing analyst expectations of $0.47. The company's revenue for the quarter amounted to $7.71 billion, slightly exceeding the forecast of $7.67 billion. The year-over-year revenue growth was 10.1%, with a return on equity of 8.94% and a net margin of 6.39%. Analysts anticipate that HPE will post an EPS of 1.83 for the current fiscal year.

Dividend Declaration

Hewlett Packard Enterprise recently declared a quarterly dividend amounting to $0.13 per share, which will be distributed on January 16th. Shareholders recorded by December 20th will receive this dividend, leading to an annualized dividend of $0.52 and a yield of 2.17%. The ex-dividend date for this dividend is also set for December 20th, with a current dividend payout ratio (DPR) of 27.37%.

About Hewlett Packard Enterprise

Hewlett Packard Enterprise Company delivers solutions that enable customers to collect, analyze, and act on their data across various regions, including the Americas, Europe, the Middle East, Africa, Asia Pacific, and Japan. The company operates in six key segments: Compute, HPC & AI, Storage, Intelligent Edge, Financial Services, and Corporate Investments and Other.

Investment, HPE, Stocks