First City Capital Management Inc. Makes New Investment in Dell Technologies Inc. (NYSE:DELL)

First City Capital Management Inc. purchased a new stake in Dell Technologies Inc. (NYSE:DELL) in the second quarter, Holdings Channel.com reports. The firm purchased 1,479 shares of the technology company’s stock, valued at approximately $204,000.

A number of other hedge funds have also recently bought and sold shares of DELL. Principal Securities Inc. bought a new position in Dell Technologies during the 4th quarter worth approximately $52,000. Dimensional Fund Advisors LP lifted its stake in Dell Technologies by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 889,485 shares of the technology company’s stock worth $68,048,000 after purchasing an additional 3,343 shares during the last quarter. Norges Bank acquired a new position in shares of Dell Technologies in the 4th quarter valued at about $8,892,000. PNC Financial Services Group Inc. grew its holdings in shares of Dell Technologies by 0.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 34,284 shares of the technology company’s stock valued at $2,623,000 after purchasing an additional 216 shares during the last quarter. Finally, Corient Private Wealth LLC grew its stake in Dell Technologies by 162.0% during the 4th quarter. Corient Private Wealth LLC now owns 155,169 shares of the technology company’s stock worth $11,870,000 after buying an additional 95,935 shares during the last quarter. Institutional investors and hedge funds own 38.10% of the company’s stock.

Insider Activity

In other news, Director V (Gp) L.L.C. Slta sold 8,493 shares of Dell Technologies stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $146.80, for a total value of $1,246,772.40. Following the completion of the transaction, the director now owns 731,612 shares in the company, valued at $107,400,641.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director V (Gp) L.L.C. Slta sold 8,493 shares of the company’s stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $146.80, for a total value of $1,246,772.40. Following the completion of the sale, the director now owns 731,612 shares in the company, valued at $107,400,641.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Jane Tunnell sold 3,624 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $145.98, for a total value of $529,031.52. Following the transaction, 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 three months, insiders have sold 7,297,857 shares of company stock worth $840,653,193. Corporate insiders own 46.70% of the company’s stock.

Dell Technologies Stock Performance

NYSE:DELL opened at $117.50 on Friday. The company has a market capitalization of $83.34 billion, a P/E ratio of 23.98, a P/E/G ratio of 1.15 and a beta of 0.90. The stock’s 50 day moving average price is $111.30 and its 200 day moving average price is $124.31. Dell Technologies Inc. has a 52 week low of $63.90 and a 52 week high of $179.70.

Dell Technologies (NYSE:DELL) last announced its quarterly earnings results on Thursday, August 29th. The technology company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The company had revenue of $25.03 billion during the quarter, compared to analysts’ expectations of $24.14 billion. Dell Technologies had a negative return on equity of 178.09% and a net margin of 4.32%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.44 earnings per share. As a group, sell-side analysts forecast that Dell Technologies Inc. will post 6.9 earnings per share for the current fiscal year.

Dell Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 22nd will be paid a $0.445 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.51%. Dell Technologies’s payout ratio is 36.33%.

Analysts Set New Price Targets

Several brokerages have commented on DELL. Raymond James dropped their price target on shares of Dell Technologies from $166.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, August 30th. Barclays raised their price objective on shares of Dell Technologies from $97.00 to $106.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. raised their price objective on Dell Technologies from $155.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Mizuho assumed coverage on Dell Technologies in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $135.00 price target on the stock. Finally, UBS Group dropped their target price on shares of Dell Technologies from $164.00 to $158.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $139.19.

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).