Fmr LLC Lowers Stock Holdings in Dell Technologies Inc. (NYSE:DELL)

Fmr LLC reduced its position in shares of Dell Technologies Inc. (NYSE:DELL) by 17.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,899,667 shares of the technology company’s stock after selling 2,529,429 shares during the period. Fmr LLC’s holdings in Dell Technologies were worth $1,410,587,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company boosted its position in shares of Dell Technologies by 674.1% during the third quarter. The Manufacturers Life Insurance Company now owns 174,635 shares of the technology company’s stock worth $20,701,000 after buying an additional 152,076 shares during the period. Qsemble Capital Management LP boosted its position in shares of Dell Technologies by 103.8% during the third quarter. Qsemble Capital Management LP now owns 7,778 shares of the technology company’s stock worth $922,000 after buying an additional 3,961 shares during the period. Bank of Montreal Can boosted its position in shares of Dell Technologies by 46.0% during the third quarter. Bank of Montreal Can now owns 538,376 shares of the technology company’s stock worth $64,724,000 after buying an additional 169,681 shares during the period. Trust Asset Management LLC boosted its position in shares of Dell Technologies by 389.4% during the third quarter. Trust Asset Management LLC now owns 10,277 shares of the technology company’s stock worth $1,218,000 after buying an additional 8,177 shares during the period. Finally, Private Trust Co. NA boosted its position in shares of Dell Technologies by 280.1% during the third quarter. Private Trust Co. NA now owns 3,375 shares of the technology company’s stock worth $400,000 after buying an additional 2,487 shares during the period. 38.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Dell Technologies

In other Dell Technologies news, insider William F. Scannell sold 42,595 shares of Dell Technologies stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $117.29, for a total value of $4,995,967.55. Following the sale, the insider now owns 73,263 shares of the company’s stock, valued at approximately $8,593,017.27. The trade was a 36.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael S. Dell sold 221,460 shares of Dell Technologies stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.07, for a total value of $22,604,422.20. Following the completion of the sale, the chief executive officer now directly owns 20,190,781 shares in the company, valued at $2,060,873,016.67. This represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,962,112 shares of company stock worth $2,114,595,059 in the last quarter. Company insiders own 46.70% of the company’s stock.

Wall Street Analyst Weigh In

DELL has been the subject of a number of recent research reports. Wells Fargo & Company lifted their target price on Dell Technologies from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Mizuho initiated coverage on Dell Technologies in a report on Tuesday, September 17th. They issued an “outperform” rating and a $135.00 target price for the company. Fox Advisors upgraded Dell Technologies from an “equal weight” rating to an “overweight” rating in a report on Friday, August 30th. Citigroup lifted their target price on Dell Technologies from $155.00 to $160.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Barclays lifted their target price on Dell Technologies from $97.00 to $106.00 and gave the company an “equal weight” rating in a report on Friday, August 30th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.50.

Dell Technologies Stock Performance

DELL opened at $141.71 on Wednesday. The business’s 50-day simple moving average is $126.91 and its 200-day simple moving average is $126.97. Dell Technologies Inc. has a one year low of $67.51 and a one year high of $179.70. The stock has a market capitalization of $99.54 billion, a P/E ratio of 26.05, a price-to-earnings-growth ratio of 1.52 and a beta of 0.89.

Dell Technologies (NYSE:DELL) last posted its earnings results on Tuesday, November 26th. The technology company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.32. Dell Technologies had a negative return on equity of 178.09% and a net margin of 4.32%. The business had revenue of $24.37 billion for the quarter, compared to analysts’ expectations of $24.67 billion. During the same quarter in the previous year, the firm earned $1.62 earnings per share. The business’s revenue was up 9.5% compared to the same quarter last year. On average, equities research analysts forecast that Dell Technologies Inc. will post 6.91 EPS for the current fiscal year.

Dell Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 22nd were given a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Tuesday, October 22nd. Dell Technologies’s dividend payout ratio (DPR) is presently 32.72%.

Dell Technologies 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).