Cypress Capital Group Lowers Stake in Hewlett Packard Enterprise (NYSE:HPE)

Cypress Capital Group lowered its stake in shares of Hewlett Packard Enterprise (NYSE:HPE) by 23.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 29,603 shares of the technology company’s stock after selling 8,867 shares during the period. Cypress Capital Group’s holdings in Hewlett Packard Enterprise were worth $632,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC acquired a new stake in Hewlett Packard Enterprise during the 3rd quarter worth approximately $25,000. Valley Wealth Managers Inc. acquired a new stake in Hewlett Packard Enterprise during the 3rd quarter worth approximately $26,000. Hara Capital LLC acquired a new stake in Hewlett Packard Enterprise during the 4th quarter worth approximately $28,000. Tandem Financial LLC acquired a new stake in Hewlett Packard Enterprise during the 4th quarter worth approximately $32,000. Finally, R Squared Ltd acquired a new stake in Hewlett Packard Enterprise during the 4th quarter worth approximately $45,000. 80.78% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus increased their target price on shares of Hewlett Packard Enterprise from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Barclays raised their price objective on shares of Hewlett Packard Enterprise from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Morgan Stanley upgraded shares of Hewlett Packard Enterprise from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $23.00 to $28.00 in a report on Thursday, December 5th. StockNews.com lowered shares of Hewlett Packard Enterprise from a “strong-buy” rating to a “buy” rating in a report on Thursday, February 6th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Hewlett Packard Enterprise from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Thursday, December 19th. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Hewlett Packard Enterprise currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Hewlett Packard Enterprise Trading Up 0.3 %

Shares of Hewlett Packard Enterprise stock opened at $18.89 on Thursday. Hewlett Packard Enterprise has a 1 year low of $15.77 and a 1 year 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 company has a market capitalization of $24.81 billion, a P/E ratio of 9.94, a PEG ratio of 2.03 and a beta of 1.19. The company’s fifty day moving average is $21.67 and its two-hundred day moving average is $20.75.

Insiders Place Their Bets

In other Hewlett Packard Enterprise news, Director Gary M. Reiner sold 50,000 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $23.47, for a total transaction of $1,173,500.00. Following the transaction, the director now directly owns 104,192 shares of the company’s stock, valued at approximately $2,445,386.24. This trade represents a 32.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jeremy Cox sold 7,771 shares of Hewlett Packard Enterprise stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $23.00, for a total transaction of $178,733.00. Following the completion of the sale, the senior vice president now directly owns 61,735 shares in the company, valued at approximately $1,419,905. The trade was a 11.18 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 332,166 shares of company stock valued at $7,300,629. Insiders own 0.36% of the company’s stock.

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.