Dell Technologies Inc. (NYSE:DELL) Position Boosted by Covestor Ltd

Covestor Ltd lifted its stake in shares of Dell Technologies Inc. (NYSE:DELL) by 290.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 293 shares of the technology company’s stock after buying an additional 218 shares during the quarter. Covestor Ltd’s holdings in Dell Technologies were worth $35,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Clean Yield Group bought a new position in Dell Technologies in the third quarter worth about $25,000. Accordant Advisory Group Inc bought a new position in Dell Technologies in the second quarter worth about $28,000. New Covenant Trust Company N.A. bought a new position in Dell Technologies in the first quarter worth about $30,000. Nemes Rush Group LLC bought a new position in Dell Technologies in the second quarter worth about $33,000. Finally, Crewe Advisors LLC bought a new position in Dell Technologies in the second quarter worth about $34,000. Institutional investors own 38.10% of the company’s stock.

Insider Activity

In other news, CEO Michael S. Dell sold 10,000,000 shares of Dell Technologies stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $122.40, for a total transaction of $1,224,000,000.00. Following the sale, the chief executive officer now directly owns 16,912,241 shares in the company, valued at approximately $2,070,058,298.40. The trade was a 37.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Radakovich Lynn Vojvodich sold 725 shares of Dell Technologies stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $129.50, for a total transaction of $93,887.50. Following the sale, the director now owns 23,680 shares in the company, valued at approximately $3,066,560. This trade represents a 2.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,953,387 shares of company stock worth $2,113,353,236. 46.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on DELL shares. TD Cowen dropped 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. Bank of America raised their price target on shares of Dell Technologies from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Citigroup raised their price target on shares of Dell Technologies from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, August 30th. 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. Finally, Evercore ISI reiterated an “outperform” rating and set a $140.00 price objective on shares of Dell Technologies in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $144.63.

Dell Technologies Stock Performance

Dell Technologies stock opened at $131.62 on Friday. The company has a 50 day moving average price of $122.43 and a 200 day moving average price of $126.37. Dell Technologies Inc. has a 52 week low of $67.51 and a 52 week high of $179.70. The firm has a market capitalization of $92.45 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 1.42 and a beta of 0.89.

Dell Technologies (NYSE:DELL) last issued its earnings results on Thursday, August 29th. The technology company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The company had revenue of $25.03 billion during the quarter, compared to analyst estimates of $24.14 billion. Dell Technologies had a net margin of 4.32% and a negative return on equity of 178.09%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter last year, the business posted $1.44 EPS. Equities analysts forecast that Dell Technologies Inc. will post 6.92 earnings per share for the current fiscal year.

Dell Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 22nd were issued a dividend of $0.445 per share. The ex-dividend date was Tuesday, October 22nd. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.35%. Dell Technologies’s dividend payout ratio is currently 32.72%.

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).