Allstate Corp Has $1.20 Million Stock Position in Dell Technologies Inc. $DELL

Key Points

• Allstate Corp increased its stake in Dell Technologies Inc. by 39.9% during the 1st quarter, now owning 13,147 shares valued at approximately $1.2 million.
• Several large investors have also recently acquired positions in Dell, with institutional ownership at 76.37% of the company's stock.
• Analysts have generally rated Dell positively, with an average price target of $144.06 and 16 out of 20 ratings being a Buy or Outperform.

Allstate Corp raised its position in Dell Technologies Inc. (NYSE:DELL - Free Report) by 39.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,147 shares of the technology company's stock after purchasing an additional 3,750 shares during the quarter. Allstate Corp's holdings in Dell Technologies were worth $1,198,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of DELL. Brighton Jones LLC raised its stake in shares of Dell Technologies by 42.7% in the 4th quarter. Brighton Jones LLC now owns 3,011 shares of the technology company's stock valued at $347,000 after purchasing an additional 901 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Dell Technologies by 5.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 920,571 shares of the technology company's stock valued at $106,090,000 after purchasing an additional 43,753 shares during the period. MML Investors Services LLC raised its stake in shares of Dell Technologies by 14.7% in the 4th quarter. MML Investors Services LLC now owns 38,445 shares of the technology company's stock valued at $4,430,000 after purchasing an additional 4,927 shares during the period. OneDigital Investment Advisors LLC raised its stake in shares of Dell Technologies by 12.4% in the 4th quarter. OneDigital Investment Advisors LLC now owns 4,492 shares of the technology company's stock valued at $518,000 after purchasing an additional 494 shares during the period. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Dell Technologies in the fourth quarter valued at about $382,000. Institutional investors and hedge funds own 76.37% of the company's stock.

Insiders Place Their Bets

In related news, CAO Brunilda Rios sold 6,000 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $126.29, for a total value of $757,740.00. Following the completion of the sale, the chief accounting officer directly owned 18,948 shares in the company, valued at approximately $2,392,942.92. The trade was a 24.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director V (Gp) L.L.C. Slta sold 6,086 shares of the business's stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $123.50, for a total value of $751,621.00. Following the completion of the sale, the director owned 986,261 shares of the company's stock, valued at approximately $121,803,233.50. This trade represents a 0.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,989,063 shares of company stock valued at $1,583,673,412 in the last quarter. Company insiders own 42.00% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on DELL. Wall Street Zen downgraded Dell Technologies from a "buy" rating to a "hold" rating in a research report on Monday, July 14th. Bank of America lifted their target price on Dell Technologies from $155.00 to $165.00 and gave the company a "buy" rating in a research report on Friday, July 18th. KeyCorp began coverage on Dell Technologies in a research report on Thursday, June 26th. They issued a "sector weight" rating on the stock. TD Cowen lifted their target price on Dell Technologies from $120.00 to $125.00 and gave the company a "hold" rating in a research report on Friday, May 30th. Finally, Barclays lifted their target price on Dell Technologies from $116.00 to $123.00 and gave the company an "equal weight" rating in a research report on Friday, May 30th. Sixteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $144.06.

Dell Technologies Trading Up 1.6%

Shares of NYSE:DELL traded up $2.18 during trading on Thursday, reaching $134.68. 8,058,158 shares of the stock were exchanged, compared to its average volume of 7,003,664. Dell Technologies Inc. has a 12 month low of $66.25 and a 12 month high of $147.66. The firm has a market cap of $91.42 billion, a PE ratio of 21.48, a PEG ratio of 0.91 and a beta of 1.02. The stock has a 50-day moving average price of $128.73 and a 200-day moving average price of $110.22.

Dell Technologies (NYSE:DELL - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The technology company reported $1.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.68 by ($0.13). Dell Technologies had a negative return on equity of 226.48% and a net margin of 4.63%.The firm had revenue of $23.38 billion for the quarter, compared to the consensus estimate of $23.17 billion. During the same quarter in the prior year, the firm earned $1.27 EPS. The company's revenue was up 5.1% on a year-over-year basis. On average, sell-side analysts expect that Dell Technologies Inc. will post 6.93 earnings per share for the current fiscal year.

Dell Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Tuesday, July 22nd. Dell Technologies's payout ratio is 33.49%.

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).