Choreo LLC Cuts Stock Position in Dell Technologies Inc. (NYSE:DELL)

Key Points

• Choreo LLC reduced its stake in Dell Technologies by 34.9%, owning 5,839 shares after selling 3,136 shares, valued at approximately $532,000.
• Dell Technologies reported quarterly earnings of $1.55 EPS, missing estimates, while revenue increased by 5.1% year-over-year to $23.38 billion.
• Recent analyst updates show multiple firms raising their price targets for Dell, with JPMorgan increasing it from $125 to $145 and Morgan Stanley from $89 to $126.

Choreo LLC trimmed its stake in shares of Dell Technologies Inc. (NYSE:DELL - Free Report) by 34.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,839 shares of the technology company's stock after selling 3,136 shares during the period. Choreo LLC's holdings in Dell Technologies were worth $532,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of DELL. Bellwether Advisors LLC acquired a new stake in Dell Technologies during the 4th quarter worth $25,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of Dell Technologies in the first quarter worth about $25,000. Cullen Frost Bankers Inc. boosted its position in Dell Technologies by 270.7% during the first quarter. Cullen Frost Bankers Inc. now owns 304 shares of the technology company's stock worth $28,000 after acquiring an additional 222 shares during the last quarter. Crowley Wealth Management Inc. grew its stake in Dell Technologies by 86.2% during the 1st quarter. Crowley Wealth Management Inc. now owns 324 shares of the technology company's stock valued at $30,000 after acquiring an additional 150 shares in the last quarter. Finally, Olde Wealth Management LLC acquired a new stake in Dell Technologies in the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 76.37% of the company's stock.

Dell Technologies Trading Up 2.2%

DELL stock opened at $131.20 on Monday. The business's fifty day moving average price is $119.18 and its 200 day moving average price is $106.10. Dell Technologies Inc. has a 12-month low of $66.25 and a 12-month high of $147.66. The company has a market capitalization of $89.06 billion, a PE ratio of 20.92, a P/E/G ratio of 1.06 and a beta of 1.02.

Dell Technologies (NYSE:DELL - Get Free Report) last issued its quarterly 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 negative return on equity of 226.48% and a net margin of 4.63%. The business had revenue of $23.38 billion for the quarter, compared to analysts' expectations of $23.17 billion. During the same quarter last year, the company earned $1.27 earnings per share. The firm's revenue for the quarter was up 5.1% on a year-over-year basis. Research analysts predict that Dell Technologies Inc. will post 6.93 EPS for the current fiscal year.

Dell Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be paid a $0.525 dividend. The ex-dividend date is Tuesday, July 22nd. This represents a $2.10 annualized dividend and a dividend yield of 1.60%. Dell Technologies's dividend payout ratio (DPR) is 33.49%.

Insiders Place Their Bets

In other news, General Counsel Richard J. Rothberg sold 70,165 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $108.82, for a total value of $7,635,355.30. Following the sale, the general counsel directly owned 79,928 shares in the company, valued at approximately $8,697,764.96. This trade represents a 46.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director V (Gp) L.L.C. Slta sold 527,187 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $112.83, for a total value of $59,482,509.21. Following the transaction, the director directly owned 938,741 shares of the company's stock, valued at $105,918,147.03. The trade was a 35.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,917,063 shares of company stock valued at $1,573,509,812. Corporate insiders own 42.00% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on DELL shares. JPMorgan Chase & Co. boosted their target price on Dell Technologies from $125.00 to $145.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Evercore ISI reissued an "outperform" rating on shares of Dell Technologies in a research note on Thursday, May 29th. Morgan Stanley raised their target price on Dell Technologies from $89.00 to $126.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Raymond James Financial boosted their price target on shares of Dell Technologies from $144.00 to $150.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Finally, Barclays upped their price objective on shares of Dell Technologies from $116.00 to $123.00 and gave the company an "equal weight" rating in a report on Friday, May 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price 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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