Elite Wealth Management Inc. Buys New Shares in Dell Technologies Inc. (NYSE:DELL)

Elite Wealth Management Inc. bought a new stake in Dell Technologies Inc. (NYSE:DELL - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,650 shares of the technology company's stock, valued at approximately $242,000. Dell Technologies accounts for 0.0% of Elite Wealth Management Inc.'s holdings, making the stock its 29th largest position.

Several other hedge funds and other institutional investors have also bought and sold shares of DELL. Brighton Jones LLC boosted its holdings in Dell Technologies by 42.7% during the fourth quarter. Brighton Jones LLC now owns 3,011 shares of the technology company's stock worth $347,000 after purchasing an additional 901 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Dell Technologies during the fourth quarter worth about $237,000. Independent Advisor Alliance boosted its holdings in Dell Technologies by 63.9% during the fourth quarter. Independent Advisor Alliance now owns 5,611 shares of the technology company's stock worth $647,000 after purchasing an additional 2,187 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in Dell Technologies by 14.7% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 70,286 shares of the technology company's stock worth $8,060,000 after purchasing an additional 9,031 shares during the last quarter. Finally, HBK Sorce Advisory LLC boosted its holdings in Dell Technologies by 6.3% during the fourth quarter. HBK Sorce Advisory LLC now owns 1,999 shares of the technology company's stock worth $230,000 after purchasing an additional 118 shares during the last quarter. Institutional investors and hedge funds own 76.37% of the company's stock.

Dell Technologies Trading Down 0.8%

NYSE:DELL opened at $126.90 on Monday. The company has a 50-day moving average price of $114.25 and a 200-day moving average price of $105.50. Dell Technologies Inc. has a 12 month low of $66.25 and a 12 month high of $147.66. The stock has a market cap of $86.15 billion, a price-to-earnings ratio of 20.24, a P/E/G ratio of 1.17 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 net margin of 4.63% and a negative return on equity of 226.48%. The business had revenue of $23.38 billion for the quarter, compared to analysts' expectations of $23.17 billion. During the same period last year, the business earned $1.27 earnings per share. The company's revenue was up 5.1% on a year-over-year basis. Equities analysts forecast that Dell Technologies Inc. will post 6.93 EPS for the current fiscal year.

Dell Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd will be paid a $0.525 dividend. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $2.10 annualized dividend and a dividend yield of 1.65%. Dell Technologies's dividend payout ratio is presently 33.49%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wall Street Zen cut shares of Dell Technologies from a "buy" rating to a "hold" rating in a research note on Monday. Mizuho boosted their target price on shares of Dell Technologies from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. UBS Group dropped their target price on shares of Dell Technologies from $150.00 to $145.00 and set a "buy" rating on the stock in a research note on Friday, May 30th. 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, TD Cowen boosted their price target on shares of Dell Technologies from $120.00 to $125.00 and gave the company a "hold" rating in a research report on Friday, May 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $138.00.

Insider Activity at Dell Technologies

In related news, General Counsel Richard J. Rothberg sold 70,165 shares of the stock in a transaction that occurred on 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 transaction, the general counsel owned 79,928 shares in the company, valued at $8,697,764.96. This represents a 46.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William F. Scannell sold 91,230 shares of the stock in a transaction that occurred on 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 owned 56,429 shares in the company, valued at approximately $6,682,322.18. This trade represents a 61.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,113,977 shares of company stock valued at $1,471,321,229 over the last quarter. 42.00% 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).

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