TD Asset Management Inc. lessened its holdings in Dell Technologies Inc. (NYSE:DELL – Get Rating) by 6.7% during the 1st quarter, Holdings Channel reports. The firm owned 61,750 shares of the technology company’s stock after selling 4,424 shares during the quarter. TD Asset Management Inc.’s holdings in Dell Technologies were worth $3,099,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Dell Technologies by 18.9% during the fourth quarter. BlackRock Inc. now owns 20,380,718 shares of the technology company’s stock valued at $1,144,783,000 after buying an additional 3,239,000 shares during the period. State Street Corp lifted its stake in shares of Dell Technologies by 4.0% during the fourth quarter. State Street Corp now owns 6,968,210 shares of the technology company’s stock valued at $391,404,000 after buying an additional 269,899 shares during the period. Third Point LLC lifted its stake in shares of Dell Technologies by 7.1% during the fourth quarter. Third Point LLC now owns 3,600,000 shares of the technology company’s stock valued at $202,212,000 after buying an additional 240,000 shares during the period. Geode Capital Management LLC lifted its stake in shares of Dell Technologies by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 2,964,351 shares of the technology company’s stock valued at $166,205,000 after buying an additional 205,383 shares during the period. Finally, Laurion Capital Management LP lifted its stake in shares of Dell Technologies by 20.7% during the fourth quarter. Laurion Capital Management LP now owns 2,745,954 shares of the technology company’s stock valued at $154,240,000 after buying an additional 471,783 shares during the period. Hedge funds and other institutional investors own 30.05% of the company’s stock.
Dell Technologies Stock Down 13.5 %
Dell Technologies stock opened at $41.43 on Friday. The firm has a market capitalization of $30.64 billion, a P/E ratio of 5.68, a PEG ratio of 0.65 and a beta of 0.83. The firm has a fifty day moving average of $45.55 and a 200-day moving average of $48.34. Dell Technologies Inc. has a 52-week low of $38.33 and a 52-week high of $61.54.
Dell Technologies (NYSE:DELL – Get Rating) last announced its earnings results on Thursday, August 25th. The technology company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.04. The business had revenue of $26.43 billion during the quarter, compared to the consensus estimate of $26.47 billion. Dell Technologies had a net margin of 5.29% and a return on equity of 126.94%. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.24 earnings per share. On average, research analysts expect that Dell Technologies Inc. will post 6 EPS for the current fiscal year.
Dell Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Wednesday, July 20th were paid a $0.33 dividend. The ex-dividend date was Tuesday, July 19th. This represents a $1.32 annualized dividend and a dividend yield of 3.19%. Dell Technologies’s dividend payout ratio (DPR) is presently 18.11%.
Insider Activity
In other news, COO Anthony Charles Whitten sold 107,905 shares of the company’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $47.70, for a total value of $5,147,068.50. Following the completion of the transaction, the chief operating officer now directly owns 774,352 shares in the company, valued at $36,936,590.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Dell Technologies news, COO Anthony Charles Whitten sold 107,905 shares of the stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $47.70, for a total transaction of $5,147,068.50. Following the transaction, the chief operating officer now directly owns 774,352 shares in the company, valued at approximately $36,936,590.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Brunilda Rios sold 5,969 shares of the stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $50.95, for a total transaction of $304,120.55. Following the transaction, the chief accounting officer now owns 18,985 shares in the company, valued at $967,285.75. The disclosure for this sale can be found here. Insiders own 47.30% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on DELL shares. Barclays reduced their price objective on shares of Dell Technologies from $54.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Friday. Wells Fargo & Company dropped their price target on shares of Dell Technologies from $65.00 to $58.00 and set an “overweight” rating for the company in a research report on Friday. Raymond James dropped their price target on shares of Dell Technologies from $54.00 to $51.00 in a research report on Friday. Citigroup dropped their price target on shares of Dell Technologies from $65.00 to $60.00 in a research report on Friday. Finally, Morgan Stanley dropped their price target on shares of Dell Technologies from $56.00 to $54.00 and set an “equal weight” rating for the company in a research report on Friday. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $58.38.
Dell Technologies Profile
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Dell Technologies Inc designs, develops, manufactures, markets, sells, and supports information technology (IT) solutions, products, and services worldwide. The company operates through three segments: Infrastructure Solutions Group (ISG), Client Solutions Group (CSG), and VMware. The ISG segment provides traditional and next-generation storage solutions; and rack, blade, tower, and hyperscale servers.
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