Dell Technologies Inc. (NYSE:DELL) Position Reduced by CIBC Asset Management Inc

CIBC Asset Management Inc lowered its position in shares of Dell Technologies Inc. (NYSE:DELL) by 36.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,986 shares of the technology company’s stock after selling 5,046 shares during the quarter. CIBC Asset Management Inc’s holdings in Dell Technologies were worth $1,239,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in DELL. GPS Wealth Strategies Group LLC grew its stake in Dell Technologies by 1.4% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 5,959 shares of the technology company’s stock valued at $822,000 after acquiring an additional 80 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in Dell Technologies by 58.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 223 shares of the technology company’s stock valued at $25,000 after purchasing an additional 82 shares in the last quarter. J.P. Marvel Investment Advisors LLC lifted its position in Dell Technologies by 0.9% in the 1st quarter. J.P. Marvel Investment Advisors LLC now owns 10,887 shares of the technology company’s stock worth $1,242,000 after buying an additional 98 shares in the last quarter. BSW Wealth Partners boosted its stake in shares of Dell Technologies by 0.7% during the 1st quarter. BSW Wealth Partners now owns 16,765 shares of the technology company’s stock valued at $1,913,000 after buying an additional 114 shares during the period. Finally, M3 Advisory Group LLC grew its holdings in shares of Dell Technologies by 3.4% during the 2nd quarter. M3 Advisory Group LLC now owns 3,557 shares of the technology company’s stock valued at $491,000 after acquiring an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 38.10% of the company’s stock.

Insider Transactions at Dell Technologies

In other Dell Technologies news, Director Lake Group L.L.C. Silver sold 25,381 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $134.42, for a total value of $3,411,714.02. Following the transaction, the director now directly owns 787,669 shares in the company, valued at $105,878,466.98. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Dell Technologies news, Director Lake Group L.L.C. Silver sold 25,381 shares of Dell Technologies stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $134.42, for a total value of $3,411,714.02. Following the completion of the transaction, the director now owns 787,669 shares in the company, valued at approximately $105,878,466.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Jane Tunnell sold 3,624 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $145.98, for a total value of $529,031.52. Following the sale, the chief marketing officer now owns 89,294 shares in the company, valued at approximately $13,035,138.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,902,278 shares of company stock valued at $942,086,320. 46.70% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on DELL. Wells Fargo & Company reduced their price objective on Dell Technologies from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Barclays boosted their price target on Dell Technologies from $97.00 to $106.00 and gave the company an “equal weight” rating in a research note on Friday, August 30th. Citigroup raised their price objective on shares of Dell Technologies from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Evercore ISI reissued an “outperform” rating and issued a $140.00 target price on shares of Dell Technologies in a research report on Wednesday, August 28th. Finally, Sanford C. Bernstein cut their price target on shares of Dell Technologies from $155.00 to $140.00 and set an “outperform” rating on the stock in a report on Friday, August 30th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Dell Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $136.80.

Dell Technologies Price Performance

NYSE:DELL opened at $102.00 on Friday. The company has a fifty day moving average price of $117.23 and a 200 day moving average price of $123.36. The stock has a market cap of $72.35 billion, a P/E ratio of 20.82, a PEG ratio of 1.43 and a beta of 0.90. Dell Technologies Inc. has a one year low of $63.90 and a one year high of $179.70.

Dell Technologies (NYSE:DELL) last released its quarterly earnings data on Thursday, August 29th. The technology company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Dell Technologies had a negative return on equity of 182.71% and a net margin of 4.32%. The company had revenue of $25.03 billion for the quarter, compared to the consensus estimate of $24.14 billion. During the same period in the previous year, the business earned $1.44 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, equities research analysts anticipate that Dell Technologies Inc. will post 6.86 EPS for the current year.

Dell Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Tuesday, July 23rd were paid a $0.445 dividend. The ex-dividend date of this dividend was Tuesday, July 23rd. This represents a $1.78 annualized dividend and a dividend yield of 1.75%. Dell Technologies’s dividend payout ratio is presently 36.33%.

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).