Donoghue Forlines Acquires 88,852 Hewlett Packard Enterprise Shares Worth $2.18M
Donoghue Forlines LLC acquired 88,852 Hewlett Packard Enterprise shares worth $2.182 million in the third quarter. Minneapolis Portfolio Management Group LLC boosted its holding 1.9% to 740,165 shares valued at $18.178 million, while Sequoia Financial Advisors and Evergreen Capital raised stakes by 11.4% and 10.5%, respectively.
1. Institutional Investors Increase Stakes
In the third quarter, Donoghue Forlines LLC initiated a new position in Hewlett Packard Enterprise by acquiring 88,852 shares valued at approximately $2.18 million, according to the latest SEC filing. Several other institutional investors also adjusted their holdings: Sequoia Financial Advisors LLC added 4,861 shares (up 11.4%) to reach 47,369 shares; Evergreen Capital Management LLC increased its stake by 2,414 shares (up 10.5%) to 25,486 shares; Vectors Research Management LLC established a new position with a $221,000 investment; Minneapolis Portfolio Management Group LLC purchased an additional 13,589 shares (up 1.9%) to hold 740,165 shares; and Ritholtz Wealth Management acquired 4,951 more shares (up 4.5%) to total 113,794 shares. Institutional investors now collectively own 80.78% of the company’s outstanding shares.
2. Analyst Ratings and Price Targets
Wall Street firms have recently updated their assessments of Hewlett Packard Enterprise. Goldman Sachs initiated coverage with a Buy rating and a $31.00 target. Citigroup raised its target from $26.00 to $28.00 and maintained a Buy rating. Argus lifted its objective from $25.00 to $30.00, also with a Buy rating. UBS Group increased its target from $23.00 to $25.00 but kept a Neutral stance, while Piper Sandler rated the shares Neutral with a $24.00 objective. Of the 22 analysts covering the company, one recommends Strong Buy, eight recommend Buy and thirteen recommend Hold, yielding a consensus target of $25.53.
3. Insider Selling Activity
During the fourth quarter, senior vice president Kirt P. Karros sold 36,460 shares for total proceeds of $897,280.60, reducing his holdings by 66% to 18,785 shares. CEO Antonio F. Neri sold 26,457 shares for $647,931.93, trimming his ownership by 1.24% to 2,101,761 shares. Over the past 90 days, insiders have sold 585,537 shares valued at $14.26 million. Company officers and directors now own 0.36% of the outstanding common stock.
4. Recent Financial Results and Dividend Increase
In its latest quarter, Hewlett Packard Enterprise reported revenue of $9.68 billion, up 14.7% year-over-year, and delivered earnings per share of $0.62, beating consensus estimates by $0.03. The company set full-year guidance of $2.25–$2.45 EPS and first-quarter guidance of $0.57–$0.61 EPS. Additionally, the board approved a quarterly dividend increase from $0.13 to $0.1425 per share, representing a $0.57 annualized payout and a yield of approximately 2.7%.