Cresset Asset Management LLC Sells 123,302 Shares of Hewlett Packard Enterprise (NYSE:HPE)

Cresset Asset Management LLC lessened its stake in Hewlett Packard Enterprise (NYSE:HPE) by 62.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,994 shares of the technology company’s stock after selling 123,302 shares during the quarter. Cresset Asset Management LLC’s holdings in Hewlett Packard Enterprise were worth $1,567,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of Hewlett Packard Enterprise during the fourth quarter worth $292,959,000. Norges Bank acquired a new stake in Hewlett Packard Enterprise in the fourth quarter worth about $119,067,000. Slate Path Capital LP raised its holdings in Hewlett Packard Enterprise by 44.8% during the 4th quarter. Slate Path Capital LP now owns 12,689,164 shares of the technology company’s stock worth $270,914,000 after purchasing an additional 3,924,039 shares during the last quarter. Northern Trust Corp lifted its position in Hewlett Packard Enterprise by 24.7% during the 4th quarter. Northern Trust Corp now owns 16,184,240 shares of the technology company’s stock valued at $345,534,000 after purchasing an additional 3,208,424 shares during the period. Finally, Freestone Grove Partners LP bought a new position in shares of Hewlett Packard Enterprise in the 4th quarter valued at about $60,040,000. 80.78% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HPE shares. StockNews.com cut shares of Hewlett Packard Enterprise from a “buy” rating to a “hold” rating in a research note on Friday, March 7th. Morgan Stanley lowered shares of Hewlett Packard Enterprise from an “overweight” rating to an “equal weight” rating and set a $14.00 target price on the stock. in a report on Tuesday, April 8th. Loop Capital decreased their price target on shares of Hewlett Packard Enterprise from $24.00 to $16.00 and set a “hold” rating for the company in a report on Monday, March 10th. Daiwa America downgraded Hewlett Packard Enterprise from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 12th. Finally, Daiwa Capital Markets cut Hewlett Packard Enterprise from an “outperform” rating to a “neutral” rating and set a $16.00 target price for the company. in a research note on Wednesday, March 12th. Ten investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.60.

Hewlett Packard Enterprise Stock Performance

NYSE:HPE opened at $16.84 on Friday. The company has a market cap of $22.12 billion, a price-to-earnings ratio of 8.86, a PEG ratio of 2.03 and a beta of 1.29. Hewlett Packard Enterprise has a fifty-two week low of $11.97 and a fifty-two week high of $24.66. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.99 and a current ratio of 1.29. The stock has a fifty day moving average price of $15.54 and a 200-day moving average price of $19.45.

Hewlett Packard Enterprise Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 18th. Stockholders of record on Friday, March 21st were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date was Friday, March 21st. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is presently 25.37%.

Insider Buying and Selling

In other news, Director Bethany Mayer sold 6,409 shares of the stock in a transaction on Friday, April 4th. The stock was sold at an average price of $13.19, for a total value of $84,534.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.36% of the stock is currently owned by company insiders.

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.