Canada Pension Plan Investment Board Sells 7,973 Shares of Dell Technologies Inc. (NYSE:DELL)

Canada Pension Plan Investment Board cut its holdings in Dell Technologies Inc. (NYSE:DELL) by 40.3% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 11,829 shares of the technology company’s stock after selling 7,973 shares during the period. Canada Pension Plan Investment Board’s holdings in Dell Technologies were worth $1,631,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Dell Technologies by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 17,595,478 shares of the technology company’s stock valued at $1,346,054,000 after purchasing an additional 647,192 shares in the last quarter. Capital World Investors bought a new position in Dell Technologies in the 1st quarter worth about $835,946,000. Point72 Asset Management L.P. grew its holdings in Dell Technologies by 14.8% during the 4th quarter. Point72 Asset Management L.P. now owns 4,045,200 shares of the technology company’s stock valued at $309,458,000 after buying an additional 520,677 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Dell Technologies by 449.8% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,714,573 shares of the technology company’s stock worth $284,165,000 after buying an additional 3,038,891 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in shares of Dell Technologies by 2.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 2,276,779 shares of the technology company’s stock valued at $319,771,000 after acquiring an additional 51,804 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 the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $117.29, for a total value of $4,995,967.55. Following the transaction, the insider now owns 73,263 shares in the company, valued at $8,593,017.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director V (Gp) L.L.C. Slta sold 8,493 shares of Dell Technologies stock in a transaction 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 sale, the director now owns 731,612 shares in the company, valued at $107,400,641.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider William F. Scannell sold 42,595 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $117.29, for a total transaction of $4,995,967.55. Following the completion of the transaction, the insider now owns 73,263 shares of the company’s stock, valued at $8,593,017.27. The disclosure for this sale can be found here. Insiders sold 9,007,047 shares of company stock worth $1,041,595,745 in the last three months. 46.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Mizuho started coverage on shares of Dell Technologies in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $135.00 target price on the stock. Susquehanna initiated coverage on Dell Technologies in a research note on Tuesday, September 10th. They set a “neutral” rating and a $120.00 price objective for the company. Barclays upped their target price on Dell Technologies from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Friday, August 30th. Raymond James dropped their price target on Dell Technologies from $166.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. Finally, Wells Fargo & Company decreased their price objective on shares of Dell Technologies from $150.00 to $140.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $143.47.

Dell Technologies Stock Up 5.2 %

Shares of NYSE:DELL opened at $126.43 on Friday. The company’s fifty day moving average is $110.47 and its 200 day moving average is $124.31. Dell Technologies Inc. has a 52 week low of $63.90 and a 52 week high of $179.70. The stock has a market cap of $89.68 billion, a PE ratio of 25.80, a PEG ratio of 1.25 and a beta of 0.90.

Dell Technologies (NYSE:DELL) last released its earnings results 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 178.09% and a net margin of 4.32%. The company had revenue of $25.03 billion during the quarter, compared to analyst estimates of $24.14 billion. During the same quarter in the previous year, the company posted $1.44 EPS. Dell Technologies’s revenue for the quarter was up 9.1% on a year-over-year basis. Sell-side analysts anticipate that Dell Technologies Inc. will post 6.9 EPS for the current 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. This represents a $1.78 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Tuesday, October 22nd. Dell Technologies’s payout ratio is 36.33%.

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).