Dell Technologies Inc. (NYSE:DELL) Shares Sold by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia reduced its holdings in Dell Technologies by 20.0%, now owning 52,107 shares valued at $4,744,000.
• Dell Technologies reported a quarterly earnings per share of $1.55, missing estimates by $0.13, with revenue increasing by 5.1% year-over-year to $23.38 billion.
• JPMorgan and Bank of America both raised their price targets for Dell Technologies, with Bank of America setting a new target at $165.00 and giving it a "buy" rating.

Bank of Nova Scotia decreased its holdings in Dell Technologies Inc. (NYSE:DELL - Free Report) by 20.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 52,107 shares of the technology company's stock after selling 13,016 shares during the period. Bank of Nova Scotia's holdings in Dell Technologies were worth $4,744,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Bellwether Advisors LLC acquired a new stake in shares of Dell Technologies during the 4th quarter worth approximately $25,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Dell Technologies during the 1st quarter worth approximately $25,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Dell Technologies during the 1st quarter worth approximately $26,000. Cullen Frost Bankers Inc. boosted its position in shares of Dell Technologies by 270.7% during the 1st quarter. Cullen Frost Bankers Inc. now owns 304 shares of the technology company's stock worth $28,000 after purchasing an additional 222 shares during the period. Finally, Crowley Wealth Management Inc. boosted its position in shares of Dell Technologies by 86.2% during the 1st quarter. Crowley Wealth Management Inc. now owns 324 shares of the technology company's stock worth $30,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 76.37% of the company's stock.

Dell Technologies Price Performance

Shares of NYSE:DELL opened at $130.46 on Wednesday. The company's fifty day moving average price is $121.80 and its 200 day moving average price is $107.16. Dell Technologies Inc. has a 12 month low of $66.25 and a 12 month high of $147.66. The firm has a market capitalization of $88.56 billion, a P/E ratio of 20.81, 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 firm had revenue of $23.38 billion for the quarter, compared to analyst estimates of $23.17 billion. During the same quarter last year, the firm earned $1.27 earnings per share. The company's revenue was up 5.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Dell Technologies Inc. will post 6.93 EPS for the current year.

Dell Technologies Announces Dividend

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

Analyst Upgrades and Downgrades

DELL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Dell Technologies from $125.00 to $145.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Bank of America increased their price objective on shares of Dell Technologies from $155.00 to $165.00 and gave the stock a "buy" rating in a research report on Friday, July 18th. Raymond James Financial increased their price objective on shares of Dell Technologies from $144.00 to $150.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. KeyCorp began coverage on shares of Dell Technologies in a research report on Thursday, June 26th. They issued a "sector weight" rating for the company. Finally, Morgan Stanley raised their price target on shares of Dell Technologies from $89.00 to $126.00 and gave the company an "overweight" rating in a research report on Wednesday, May 21st. Five 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.com, Dell Technologies has a consensus rating of "Moderate Buy" and an average target price of $140.06.

Insider Activity at Dell Technologies

In other Dell Technologies news, insider William F. Scannell sold 91,230 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $118.42, for a total transaction of $10,803,456.60. Following the transaction, the insider directly owned 56,429 shares in the company, valued at approximately $6,682,322.18. This represents a 61.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Richard J. Rothberg sold 70,165 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $108.82, for a total transaction of $7,635,355.30. Following the completion of the sale, the general counsel directly owned 79,928 shares in the company, valued at $8,697,764.96. This trade represents a 46.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,947,063 shares of company stock valued at $1,577,559,812 in the last ninety days. Company insiders own 42.00% of the company's stock.

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).

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