Holderness Investments Co. Raises Holdings in Dell Technologies Inc. (NYSE:DELL)

Holderness Investments Co. raised its position in shares of Dell Technologies Inc. (NYSE:DELL) by 44.8% during the 2nd quarter, Holdings Channel reports. The fund owned 18,514 shares of the technology company’s stock after purchasing an additional 5,730 shares during the period. Holderness Investments Co.’s holdings in Dell Technologies were worth $2,553,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Accordant Advisory Group Inc bought a new stake in shares of Dell Technologies in the 2nd quarter worth about $28,000. Massmutual Trust Co. FSB ADV grew its position in Dell Technologies by 58.2% in the first 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. Crewe Advisors LLC purchased a new stake in Dell Technologies during the second quarter valued at approximately $34,000. New Covenant Trust Company N.A. bought a new stake in shares of Dell Technologies in the 1st quarter valued at approximately $30,000. Finally, Carolinas Wealth Consulting LLC boosted its holdings in shares of Dell Technologies by 1,130.4% in the 2nd quarter. Carolinas Wealth Consulting LLC now owns 283 shares of the technology company’s stock worth $39,000 after purchasing an additional 260 shares during the period. 38.10% of the stock is currently owned by institutional investors.

Dell Technologies Trading Down 0.2 %

Shares of Dell Technologies stock opened at $117.50 on Friday. The firm’s 50 day simple moving average is $111.30 and its two-hundred day simple moving average is $124.31. The firm has a market capitalization of $83.34 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 1.15 and a beta of 0.90. Dell Technologies Inc. has a 12-month low of $63.90 and a 12-month high of $179.70.

Dell Technologies (NYSE:DELL) last released its earnings results on Thursday, August 29th. The technology company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $25.03 billion for the quarter, compared to the consensus estimate of $24.14 billion. During the same period in the prior year, the firm earned $1.44 EPS. The firm’s revenue was up 9.1% on a year-over-year basis. On average, sell-side analysts predict that Dell Technologies Inc. will post 6.9 EPS 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 given a $0.445 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $1.78 dividend on an annualized basis and a yield of 1.51%. Dell Technologies’s dividend payout ratio is currently 36.33%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Evercore ISI restated an “outperform” rating and issued a $140.00 price target on shares of Dell Technologies in a research report on Wednesday, August 28th. Wells Fargo & Company dropped their target price on shares of Dell Technologies from $150.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Susquehanna began coverage on shares of Dell Technologies in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $120.00 price objective for the company. Fox Advisors upgraded shares of Dell Technologies from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 30th. Finally, Barclays upped their target price on Dell Technologies from $97.00 to $106.00 and gave the stock an “equal weight” rating in a report on Friday, August 30th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $139.19.

Insider Buying and Selling

In other Dell Technologies 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 transaction of $1,246,772.40. Following the completion of the sale, the director now directly owns 731,612 shares in the company, valued at approximately $107,400,641.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Michael S. Dell sold 221,460 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.07, for a total transaction of $22,604,422.20. Following the sale, the chief executive officer now directly owns 20,190,781 shares of the company’s stock, valued at $2,060,873,016.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director V (Gp) L.L.C. Slta sold 8,493 shares of the business’s 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 directly owns 731,612 shares of the company’s stock, valued at $107,400,641.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,297,857 shares of company stock worth $840,653,193. 46.70% of the stock is owned by company insiders.

About Dell Technologies

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).