Baker Avenue Asset Management LP Takes Position in Dell Technologies Inc. (NYSE:DELL)

Key Points

• Baker Avenue Asset Management LP acquired a new stake in Dell Technologies, purchasing 4,548 shares valued at approximately $415,000 in the first quarter.
• Ceo Michael S. Dell sold 10 million shares of the company, decreasing his stake by nearly 28%, after which he retained ownership of over 25 million shares.
• Dell Technologies reported earnings of $1.55 per share, missing analysts' estimates by $0.13, while revenue for the quarter was $23.38 billion, surpassing expectations.

Baker Avenue Asset Management LP bought a new stake in Dell Technologies Inc. (NYSE:DELL - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,548 shares of the technology company's stock, valued at approximately $415,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Blueshift Asset Management LLC grew its holdings in shares of Dell Technologies by 101.2% during the 1st quarter. Blueshift Asset Management LLC now owns 17,609 shares of the technology company's stock valued at $1,605,000 after purchasing an additional 8,857 shares during the last quarter. Strategic Advocates LLC grew its holdings in shares of Dell Technologies by 31.9% during the 1st quarter. Strategic Advocates LLC now owns 4,262 shares of the technology company's stock valued at $388,000 after purchasing an additional 1,031 shares during the last quarter. Lindenwold Advisors INC grew its holdings in shares of Dell Technologies by 76.4% during the 1st quarter. Lindenwold Advisors INC now owns 8,821 shares of the technology company's stock valued at $804,000 after purchasing an additional 3,820 shares during the last quarter. Alberta Investment Management Corp grew its holdings in shares of Dell Technologies by 19.9% during the 1st quarter. Alberta Investment Management Corp now owns 44,000 shares of the technology company's stock valued at $4,011,000 after purchasing an additional 7,300 shares during the last quarter. Finally, US Bancorp DE grew its holdings in shares of Dell Technologies by 1.7% during the 1st quarter. US Bancorp DE now owns 33,516 shares of the technology company's stock valued at $3,055,000 after purchasing an additional 562 shares during the last quarter. 76.37% of the stock is currently owned by institutional investors and hedge funds.

Dell Technologies Stock Performance

NYSE:DELL opened at $127.29 on Friday. The firm's fifty day moving average is $121.11 and its 200-day moving average is $106.88. Dell Technologies Inc. has a 52 week low of $66.25 and a 52 week high of $147.66. The firm has a market cap of $86.41 billion, a P/E ratio of 20.30, a P/E/G ratio of 1.03 and a beta of 1.02.

Dell Technologies (NYSE:DELL - Get Free Report) last released its earnings results 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 net margin of 4.63% and a negative return on equity of 226.48%. The company had revenue of $23.38 billion for the quarter, compared to analyst estimates of $23.17 billion. During the same quarter in the previous year, the firm earned $1.27 EPS. The firm's revenue was up 5.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Dell Technologies Inc. will post 6.93 earnings per share for the current year.

Dell Technologies Announces Dividend

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

Insider Activity at Dell Technologies

In related news, CEO Michael S. Dell sold 10,000,000 shares of the business's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $122.27, for a total transaction of $1,222,700,000.00. Following the transaction, the chief executive officer owned 25,912,241 shares in the company, valued at $3,168,289,707.07. The trade was a 27.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 625,000 shares of the company's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $126.20, for a total transaction of $78,875,000.00. Following the transaction, the director owned 960,050 shares in the company, valued at approximately $121,158,310. The trade was a 39.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,947,063 shares of company stock worth $1,577,559,812 over the last ninety days. 42.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on DELL. Mizuho boosted their target price on shares of Dell Technologies from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Barclays boosted their target price on shares of Dell Technologies from $116.00 to $123.00 and gave the stock an "equal weight" rating in a report on Friday, May 30th. Bank of America boosted their target price on shares of Dell Technologies from $155.00 to $165.00 and gave the stock a "buy" rating in a report on Friday, July 18th. KeyCorp began coverage on shares of Dell Technologies in a report on Thursday, June 26th. They set a "sector weight" rating on the stock. Finally, UBS Group reduced their target price on shares of Dell Technologies from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Dell Technologies presently has an average rating of "Moderate Buy" and an average price target of $140.06.

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).

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