Renaissance Technologies LLC Sells 626,277 Shares of Dell Technologies Inc. (NYSE:DELL)

Renaissance Technologies LLC reduced its stake in Dell Technologies Inc. (NYSE:DELL) by 95.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,200 shares of the technology company’s stock after selling 626,277 shares during the period. Renaissance Technologies LLC’s holdings in Dell Technologies were worth $4,441,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in DELL. Norges Bank acquired a new stake in shares of Dell Technologies during the 4th quarter worth $8,892,000. Franklin Resources Inc. increased its holdings in Dell Technologies by 30.8% in the 4th quarter. Franklin Resources Inc. now owns 33,685 shares of the technology company’s stock valued at $2,577,000 after buying an additional 7,936 shares during the period. US Bancorp DE raised its position in shares of Dell Technologies by 35.6% in the 4th quarter. US Bancorp DE now owns 21,379 shares of the technology company’s stock valued at $1,636,000 after buying an additional 5,615 shares in the last quarter. Advisory Services Network LLC raised its position in shares of Dell Technologies by 330.5% in the 4th quarter. Advisory Services Network LLC now owns 13,646 shares of the technology company’s stock valued at $1,044,000 after buying an additional 10,476 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in shares of Dell Technologies by 16.0% during the 4th quarter. Hsbc Holdings PLC now owns 344,785 shares of the technology company’s stock worth $26,376,000 after acquiring an additional 47,460 shares in the last quarter. Institutional investors and hedge funds own 38.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on DELL. Morgan Stanley cut their target price on Dell Technologies from $142.00 to $136.00 and set an “overweight” rating for the company in a research note on Thursday, August 29th. Sanford C. Bernstein reduced their price objective on Dell Technologies from $155.00 to $140.00 and set an “outperform” rating on the stock in a research note on Friday, August 30th. Barclays boosted 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. TD Cowen reduced their price target on shares of Dell Technologies from $155.00 to $128.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. Finally, Mizuho initiated coverage on shares of Dell Technologies in a research report on Tuesday, September 17th. They set an “outperform” rating and a $135.00 price objective for the company. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $143.50.

Dell Technologies Trading Down 5.0 %

Shares of DELL opened at $120.22 on Friday. The stock’s 50-day moving average price is $110.49 and its two-hundred day moving average price is $124.32. Dell Technologies Inc. has a 12 month low of $63.90 and a 12 month high of $179.70. The company has a market capitalization of $85.27 billion, a PE ratio of 24.53, a PEG ratio of 1.25 and a beta of 0.90.

Dell Technologies (NYSE:DELL) last posted its quarterly earnings data on Thursday, August 29th. The technology company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The company had revenue of $25.03 billion for the quarter, compared to analyst estimates of $24.14 billion. Dell Technologies had a negative return on equity of 178.09% and a net margin of 4.32%. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.44 earnings per share. Equities research analysts predict that Dell Technologies Inc. will post 6.9 EPS for the current fiscal year.

Dell Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 22nd will be given a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Tuesday, October 22nd. Dell Technologies’s dividend payout ratio (DPR) is presently 36.33%.

Insider Activity at Dell Technologies

In other news, Director V (Gp) L.L.C. Slta sold 8,493 shares of the business’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 transaction, the director now directly owns 731,612 shares of the company’s stock, valued at approximately $107,400,641.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Dell Technologies news, CMO Jane Tunnell sold 3,624 shares of Dell Technologies stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $145.98, for a total value of $529,031.52. Following the completion of the sale, the chief marketing officer now directly owns 89,294 shares of the company’s stock, valued at $13,035,138.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director V (Gp) L.L.C. Slta sold 8,493 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $146.80, for a total transaction of $1,246,772.40. Following the transaction, the director now directly owns 731,612 shares in the company, valued at approximately $107,400,641.60. The disclosure for this sale can be found here. Insiders have sold a total of 9,007,047 shares of company stock worth $1,041,595,745 over the last quarter. Company insiders own 46.70% of the company’s stock.

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).