Clearbridge Investments LLC Boosts Holdings in Dell Technologies Inc. (NYSE:DELL)

Clearbridge Investments LLC raised its stake in Dell Technologies Inc. (NYSE:DELL) by 7.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 256,325 shares of the technology company’s stock after acquiring an additional 18,130 shares during the period. Clearbridge Investments LLC’s holdings in Dell Technologies were worth $35,350,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in DELL. Accordant Advisory Group Inc purchased a new stake in shares of Dell Technologies in the second quarter worth about $28,000. Massmutual Trust Co. FSB ADV raised its holdings in shares of Dell Technologies by 58.2% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 223 shares of the technology company’s stock worth $25,000 after acquiring an additional 82 shares in the last quarter. Nemes Rush Group LLC purchased a new position in shares of Dell Technologies in the second quarter valued at $33,000. Crewe Advisors LLC bought a new stake in Dell Technologies in the second quarter worth $34,000. Finally, New Covenant Trust Company N.A. purchased a new stake in Dell Technologies during the first quarter valued at $30,000. Institutional investors own 38.10% of the company’s stock.

Dell Technologies Stock Up 2.0 %

Shares of Dell Technologies stock opened at $115.70 on Friday. The company has a market cap of $82.07 billion, a P/E ratio of 23.61, a PEG ratio of 1.25 and a beta of 0.90. The firm’s 50 day moving average price is $109.95 and its 200-day moving average price is $124.52. Dell Technologies Inc. has a 52-week low of $63.90 and a 52-week high of $179.70.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings results on Thursday, August 29th. The technology company reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $25.03 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm posted $1.44 earnings per share. As a group, equities research analysts forecast that Dell Technologies Inc. will post 6.9 EPS for the current fiscal year.

Dell Technologies Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Tuesday, October 22nd. Dell Technologies’s dividend payout ratio (DPR) is presently 36.33%.

Insider Buying and Selling at Dell Technologies

In other news, Director V (Gp) L.L.C. Slta sold 1,000,000 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $144.68, for a total transaction of $144,680,000.00. Following the sale, the director now directly owns 770,369 shares of the company’s stock, valued at $111,456,986.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Michael S. Dell sold 10,000,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $122.40, for a total value of $1,224,000,000.00. Following the sale, the chief executive officer now owns 16,912,241 shares in the company, valued at $2,070,058,298.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director V (Gp) L.L.C. Slta sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $144.68, for a total transaction of $144,680,000.00. Following the transaction, the director now directly owns 770,369 shares of the company’s stock, valued at $111,456,986.92. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,998,554 shares of company stock worth $2,264,348,973. 46.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Evercore ISI restated an “outperform” rating and issued a $140.00 target price on shares of Dell Technologies in a report on Wednesday, August 28th. Citigroup raised their price objective on Dell Technologies from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Bank of America boosted their target price on Dell Technologies from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Raymond James dropped their price objective on shares of Dell Technologies from $166.00 to $160.00 and set an “outperform” rating for the company in a research note on Friday, August 30th. Finally, Morgan Stanley reduced their target price on shares of Dell Technologies from $142.00 to $136.00 and set an “overweight” rating on the stock in a research note on Thursday, August 29th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $143.50.

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).