Bank of New York Mellon Corp Cuts Holdings in Dell Technologies Inc. (NYSE:DELL)

Bank of New York Mellon Corp decreased its position in shares of Dell Technologies Inc. (NYSE:DELLGet Rating) by 5.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 967,557 shares of the technology company’s stock after selling 55,818 shares during the period. Bank of New York Mellon Corp’s holdings in Dell Technologies were worth $48,562,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Rockefeller Capital Management L.P. grew its position in shares of Dell Technologies by 65.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 11,836 shares of the technology company’s stock valued at $664,000 after purchasing an additional 4,668 shares in the last quarter. Third Point LLC grew its position 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 purchasing an additional 240,000 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Dell Technologies by 74.1% in the first quarter. Nisa Investment Advisors LLC now owns 3,523 shares of the technology company’s stock worth $177,000 after acquiring an additional 1,500 shares in the last quarter. Candriam Luxembourg S.C.A. grew its position in Dell Technologies by 61.7% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 97,864 shares of the technology company’s stock worth $5,497,000 after acquiring an additional 37,344 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH purchased a new position in Dell Technologies in the first quarter worth about $272,000. Hedge funds and other institutional investors own 26.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on DELL shares. The Goldman Sachs Group dropped their price target on Dell Technologies from $52.00 to $43.00 and set a “neutral” rating for the company in a research report on Friday, August 26th. Barclays dropped their price target on Dell Technologies from $54.00 to $49.00 and set an “equal weight” rating for the company in a research report on Friday, August 26th. Bank of America dropped their target price on Dell Technologies from $66.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, August 26th. UBS Group dropped their target price on Dell Technologies from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, August 26th. Finally, Wells Fargo & Company dropped their target price on Dell Technologies from $65.00 to $58.00 and set an “overweight” rating for the company in a research report on Friday, August 26th. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.33.

Dell Technologies Stock Performance

Dell Technologies stock opened at $37.79 on Monday. The company has a market capitalization of $27.95 billion, a PE ratio of 5.46, a P/E/G ratio of 0.57 and a beta of 0.83. Dell Technologies Inc. has a fifty-two week low of $37.10 and a fifty-two week high of $61.54. The company has a 50 day moving average price of $45.02 and a 200-day moving average price of $48.00.

Dell Technologies (NYSE:DELLGet Rating) last issued its quarterly earnings data on Thursday, August 25th. The technology company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.04. The company 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 4.98% and a return on equity of 167.38%. Dell Technologies’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.24 earnings per share. On average, analysts forecast that Dell Technologies Inc. will post 5.94 earnings per share for the current year.

Dell Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Wednesday, July 20th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date was Tuesday, July 19th. Dell Technologies’s dividend payout ratio (DPR) is 19.08%.

Insider Buying and Selling

In other Dell Technologies news, CAO Brunilda Rios sold 5,969 shares of Dell Technologies stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $50.95, for a total value of $304,120.55. Following the transaction, the chief accounting officer now directly owns 18,985 shares of the company’s stock, valued at $967,285.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Anthony Charles Whitten sold 107,905 shares of the business’s 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 sale, the chief operating officer now directly owns 774,352 shares of the company’s stock, valued at $36,936,590.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Brunilda Rios sold 5,969 shares of the business’s 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 sale, the chief accounting officer now directly owns 18,985 shares in the company, valued at $967,285.75. The disclosure for this sale can be found here. 47.30% of the stock is currently owned by insiders.

About Dell Technologies

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding DELL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dell Technologies Inc. (NYSE:DELLGet Rating).

Institutional Ownership by Quarter for Dell Technologies (NYSE:DELL)

Receive News & Ratings for Dell Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dell Technologies and related companies with MarketBeat.com's FREE daily email newsletter.