Park Avenue Securities LLC grew its holdings in Dell Technologies Inc. (NYSE:DELL – Get Rating) by 44.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,832 shares of the technology company’s stock after purchasing an additional 2,735 shares during the period. Park Avenue Securities LLC’s holdings in Dell Technologies were worth $302,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its stake in shares of Dell Technologies by 17.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,076 shares of the technology company’s stock valued at $706,000 after purchasing an additional 2,117 shares during the period. D.A. Davidson & CO. purchased a new stake in shares of Dell Technologies in the first quarter worth about $304,000. MetLife Investment Management LLC purchased a new position in Dell Technologies during the first quarter valued at approximately $568,000. Rhumbline Advisers lifted its stake in Dell Technologies by 2.0% in the 1st quarter. Rhumbline Advisers now owns 254,266 shares of the technology company’s stock worth $12,762,000 after purchasing an additional 4,949 shares in the last quarter. Finally, Yousif Capital Management LLC grew its position in shares of Dell Technologies by 5.2% during the 1st quarter. Yousif Capital Management LLC now owns 6,090 shares of the technology company’s stock valued at $306,000 after purchasing an additional 302 shares in the last quarter. Hedge funds and other institutional investors own 26.42% of the company’s stock.
Insider Activity at Dell Technologies
In other Dell Technologies news, insider William F. Scannell sold 91,938 shares of the company’s stock in a transaction that occurred on Wednesday, December 14th. The stock was sold at an average price of $42.62, for a total transaction of $3,918,397.56. Following the transaction, the insider now owns 178,627 shares in the company, valued at approximately $7,613,082.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 47.30% of the stock is owned by corporate insiders.
Dell Technologies Stock Up 2.0 %
Dell Technologies (NYSE:DELL – Get Rating) last announced its quarterly earnings results on Monday, November 21st. The technology company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.69. The company had revenue of $24.72 million for the quarter, compared to the consensus estimate of $24.61 billion. Dell Technologies had a negative return on equity of 208.47% and a net margin of 1.74%. Dell Technologies’s revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.37 EPS. As a group, sell-side analysts expect that Dell Technologies Inc. will post 6.46 earnings per share for the current fiscal year.
Dell Technologies Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, February 3rd. Stockholders of record on Wednesday, January 25th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Tuesday, January 24th. Dell Technologies’s payout ratio is 55.46%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on DELL shares. Citigroup dropped their price objective on Dell Technologies from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, November 18th. Wells Fargo & Company lowered their target price 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. Morgan Stanley decreased their price target on shares of Dell Technologies from $54.00 to $45.00 and set an “equal weight” rating on the stock in a report on Monday, October 17th. Raymond James lifted their price objective on shares of Dell Technologies from $47.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, November 22nd. Finally, Evercore ISI lowered their price target on Dell Technologies from $50.00 to $48.00 in a research report on Tuesday, November 22nd. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus 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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