Hewlett Packard Enterprise (NYSE:HPE) Share Price Passes Below Fifty Day Moving Average – Here’s What Happened

Hewlett Packard Enterprise (NYSE:HPE) passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $21.34 and traded as low as $21.18. Hewlett Packard Enterprise shares last traded at $21.35, with a volume of 7,317,322 shares.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HPE. Barclays lifted their price objective on shares of Hewlett Packard Enterprise from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Raymond James raised Hewlett Packard Enterprise from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $23.00 to $29.00 in a research note on Monday, November 18th. StockNews.com raised Hewlett Packard Enterprise from a “buy” rating to a “strong-buy” rating in a report on Monday, December 9th. Citigroup raised shares of Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $23.00 to $26.00 in a research note on Friday, December 6th. Finally, Loop Capital increased their price target on shares of Hewlett Packard Enterprise from $18.00 to $24.00 and gave the company a “hold” rating in a report on Monday, December 9th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Hewlett Packard Enterprise presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

Hewlett Packard Enterprise Stock Performance

The business has a 50 day simple moving average of $21.38 and a two-hundred day simple moving average of $20.22. The firm has a market cap of $28.34 billion, a PE ratio of 11.48, a price-to-earnings-growth ratio of 2.02 and a beta of 1.21. 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 Dividend Announcement

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 issued a $0.13 dividend. The ex-dividend date is Friday, December 20th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.38%. Hewlett Packard Enterprise’s payout ratio is 27.37%.

Insider Activity

In other Hewlett Packard Enterprise news, SVP Jeremy Cox sold 7,770 shares of Hewlett Packard Enterprise stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $21.00, for a total value of $163,170.00. Following the transaction, the senior vice president now owns 7,771 shares in the company, valued at $163,191. The trade was a 50.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Antonio F. Neri sold 250,000 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $20.73, for a total transaction of $5,182,500.00. Following the sale, the chief executive officer now directly owns 1,508,641 shares of the company’s stock, valued at approximately $31,274,127.93. The trade was a 14.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 578,359 shares of company stock worth $12,380,028. Company insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC acquired a new stake in Hewlett Packard Enterprise in the third quarter worth about $25,000. Valley Wealth Managers Inc. acquired a new stake in Hewlett Packard Enterprise in the 3rd quarter worth approximately $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in Hewlett Packard Enterprise during the 2nd quarter worth approximately $28,000. Hazlett Burt & Watson Inc. increased its stake in Hewlett Packard Enterprise by 571.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 1,343 shares of the technology company’s stock valued at $28,000 after purchasing an additional 1,143 shares in the last quarter. Finally, Financial Management Professionals Inc. raised its holdings in shares of Hewlett Packard Enterprise by 80.3% in the third quarter. Financial Management Professionals Inc. now owns 1,430 shares of the technology company’s stock worth $29,000 after buying an additional 637 shares during the last quarter. 80.78% of the stock is owned by institutional investors and hedge funds.

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.