New York State Teachers Retirement System lessened its holdings in shares of Dell Technologies Inc. (NYSE:DELL – Get Rating) by 2.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,300 shares of the technology company’s stock after selling 500 shares during the period. New York State Teachers Retirement System’s holdings in Dell Technologies were worth $796,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of DELL. Brown Brothers Harriman & Co. bought a new stake in shares of Dell Technologies during the 1st quarter valued at $27,000. Centerpoint Advisors LLC boosted its holdings in shares of Dell Technologies by 307.5% during the 2nd quarter. Centerpoint Advisors LLC now owns 599 shares of the technology company’s stock valued at $28,000 after buying an additional 452 shares in the last quarter. Riverview Trust Co boosted its holdings in shares of Dell Technologies by 166.1% during the 3rd quarter. Riverview Trust Co now owns 809 shares of the technology company’s stock valued at $28,000 after buying an additional 505 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of Dell Technologies during the 3rd quarter valued at $31,000. Finally, Private Trust Co. NA bought a new position in Dell Technologies in the 2nd quarter worth about $33,000. Institutional investors own 26.42% of the company’s stock.
Insider Buying and Selling
In related news, insider William F. Scannell sold 91,938 shares of the stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $42.62, for a total value of $3,918,397.56. Following the completion of the sale, the insider now directly owns 178,627 shares of the company’s stock, valued at approximately $7,613,082.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 47.30% of the stock is currently owned by insiders.
Dell Technologies Stock Down 1.4 %
Dell Technologies (NYSE:DELL – Get Rating) last released its earnings results on Monday, November 21st. The technology company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.69. The company had revenue of $24.72 million during the quarter, compared to analyst estimates of $24.61 billion. Dell Technologies had a net margin of 1.74% and a negative return on equity of 208.47%. The firm’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.37 EPS. As a group, equities research analysts anticipate that Dell Technologies Inc. will post 6.46 EPS for the current year.
Dell Technologies Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, February 3rd. Investors of record on Wednesday, January 25th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.35%. The ex-dividend date is Tuesday, January 24th. Dell Technologies’s dividend payout ratio is 55.46%.
Analyst Upgrades and Downgrades
DELL has been the topic of a number of analyst reports. Citigroup dropped their price target on shares of Dell Technologies from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Friday, November 18th. Barclays dropped their price target on shares of Dell Technologies from $49.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 22nd. UBS Group dropped their price target on shares of Dell Technologies from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, November 22nd. Credit Suisse Group dropped their price target on shares of Dell Technologies from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 22nd. Finally, Wells Fargo & Company dropped their price target on shares of Dell Technologies from $58.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 22nd. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Dell Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $49.63.
Dell Technologies Company Profile
Dell Technologies Inc designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. The company operates through two segments, Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG).
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