Synovus Financial Corp Cuts Stock Holdings in Hewlett Packard Enterprise (NYSE:HPE)

Synovus Financial Corp lowered its stake in shares of Hewlett Packard Enterprise (NYSE:HPE) by 24.0% during the first quarter, Holdings Channel reports. The fund owned 48,895 shares of the technology company’s stock after selling 15,453 shares during the period. Synovus Financial Corp’s holdings in Hewlett Packard Enterprise were worth $771,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of HPE. BlackRock Inc. increased its position in shares of Hewlett Packard Enterprise by 10.3% during the first quarter. BlackRock Inc. now owns 130,439,805 shares of the technology company’s stock worth $2,053,121,000 after acquiring an additional 12,162,366 shares during the period. Norges Bank purchased a new stake in shares of Hewlett Packard Enterprise during the fourth quarter worth $51,317,000. Nuveen Asset Management LLC grew its stake in shares of Hewlett Packard Enterprise by 26.9% during the fourth quarter. Nuveen Asset Management LLC now owns 9,793,883 shares of the technology company’s stock worth $116,057,000 after purchasing an additional 2,073,167 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Hewlett Packard Enterprise by 115.0% during the fourth quarter. JPMorgan Chase & Co. now owns 3,588,249 shares of the technology company’s stock worth $42,522,000 after purchasing an additional 1,919,634 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Hewlett Packard Enterprise by 47.3% during the fourth quarter. Renaissance Technologies LLC now owns 5,285,900 shares of the technology company’s stock worth $62,638,000 after purchasing an additional 1,698,200 shares in the last quarter. 81.31% of the stock is currently owned by institutional investors and hedge funds.

NYSE HPE opened at $15.63 on Friday. The stock has a market capitalization of $20.41 billion, a PE ratio of 31.90, a P/E/G ratio of 2.79 and a beta of 1.23. Hewlett Packard Enterprise has a 52-week low of $8.28 and a 52-week high of $16.74. The business’s 50-day moving average price is $16.04. The company has a quick ratio of 0.76, a current ratio of 0.93 and a debt-to-equity ratio of 0.74.

Hewlett Packard Enterprise (NYSE:HPE) last posted its quarterly earnings results on Monday, May 31st. The technology company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. Hewlett Packard Enterprise had a net margin of 2.35% and a return on equity of 8.51%. The firm had revenue of $6.70 billion during the quarter, compared to analysts’ expectations of $6.61 billion. During the same period in the prior year, the company posted $0.22 earnings per share. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities research analysts predict that Hewlett Packard Enterprise will post 0.73 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 7th. Shareholders of record on Wednesday, June 16th will be issued a $0.12 dividend. The ex-dividend date is Tuesday, June 15th. This represents a $0.48 dividend on an annualized basis and a yield of 3.07%. Hewlett Packard Enterprise’s dividend payout ratio (DPR) is presently 35.56%.

In other Hewlett Packard Enterprise news, Director Gary M. Reiner sold 75,000 shares of the stock in a transaction dated Friday, June 4th. The shares were sold at an average price of $15.98, for a total value of $1,198,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Justin Hotard sold 44,476 shares of the stock in a transaction dated Monday, June 7th. The shares were sold at an average price of $16.26, for a total transaction of $723,179.76. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 683,675 shares of company stock valued at $11,110,631. 0.52% of the stock is currently owned by corporate insiders.

A number of equities analysts recently commented on the stock. Barclays boosted their target price on shares of Hewlett Packard Enterprise from $15.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 2nd. Jefferies Financial Group began coverage on shares of Hewlett Packard Enterprise in a research note on Tuesday, April 20th. They issued a “buy” rating and a $20.00 price objective for the company. JPMorgan Chase & Co. increased their target price on shares of Hewlett Packard Enterprise from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Friday, March 26th. Raymond James increased their target price on shares of Hewlett Packard Enterprise from $18.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 2nd. Finally, Stifel Nicolaus began coverage on shares of Hewlett Packard Enterprise in a research note on Monday, May 17th. They set a “buy” rating and a $20.00 target price for the company. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $15.21.

Hewlett Packard Enterprise Profile

Hewlett Packard Enterprise Company provides solutions that allow customers to capture, analyze, and act upon data seamlessly. The company offers general purpose servers for multi-workload computing and workload-optimized servers; HPE ProLiant rack and tower servers; HPE BladeSystem, HPE Synergy, and HPE ProLiant; storage solutions; and solutions for secondary workloads and traditional tape, storage networking, and disk products, such as HPE Modular Storage Arrays and HPE XP.

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Institutional Ownership by Quarter for Hewlett Packard Enterprise (NYSE:HPE)

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