Harvey Capital Management Inc. Invests $2.58 Million in Hewlett Packard Enterprise (NYSE:HPE)

Harvey Capital Management Inc. purchased a new position in shares of Hewlett Packard Enterprise (NYSE:HPE) during the fourth quarter, Holdings Channel reports. The firm purchased 120,780 shares of the technology company’s stock, valued at approximately $2,579,000.

Several other large investors also recently bought and sold shares of the business. RPg Family Wealth Advisory LLC purchased a new position in Hewlett Packard Enterprise in the 3rd quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in shares of Hewlett Packard Enterprise in the third quarter valued at approximately $26,000. Financial Management Professionals Inc. lifted its position in Hewlett Packard Enterprise by 80.3% during 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 in the last quarter. Tandem Financial LLC acquired a new position in Hewlett Packard Enterprise during the fourth quarter worth $32,000. Finally, R Squared Ltd purchased a new stake in Hewlett Packard Enterprise in the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 80.78% of the company’s stock.

Hewlett Packard Enterprise Trading Down 1.3 %

Shares of NYSE HPE opened at $21.16 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 0.99 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $27.83 billion, a PE ratio of 11.14, a PEG ratio of 1.98 and a beta of 1.19. Hewlett Packard Enterprise has a twelve month low of $14.47 and a twelve month high of $24.66. The stock has a fifty day simple moving average of $22.07 and a 200-day simple moving average of $20.47.

Hewlett Packard Enterprise Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Friday, December 20th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Friday, December 20th. Hewlett Packard Enterprise’s dividend payout ratio is currently 27.37%.

Insiders Place Their Bets

In related news, SVP Jeremy Cox sold 11,577 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $1,118,145. The trade was a 19.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gary M. Reiner sold 50,000 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $23.47, for a total value of $1,173,500.00. Following the completion of the sale, the director now directly 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 have sold 332,166 shares of company stock worth $7,300,629 over the last three months. Company insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on HPE. Loop Capital lifted their price target on Hewlett Packard Enterprise from $18.00 to $24.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Stifel Nicolaus lifted their target price on shares of Hewlett Packard Enterprise from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Barclays increased their price target on shares of Hewlett Packard Enterprise from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. StockNews.com lowered shares of Hewlett Packard Enterprise from a “strong-buy” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, Citigroup upgraded Hewlett Packard Enterprise from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $23.00 to $26.00 in a research report on Friday, December 6th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $24.00.

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.