Mackenzie Financial Corp Has $2.72 Million Position in Dell Technologies Inc. (NYSE:DELL)

Key Points

• Mackenzie Financial Corp reduced its stake in Dell Technologies by 61.2% to 29,869 shares, with holdings valued at approximately $2.72 million as of the last reporting period.
• Several hedge funds, including Cullen Frost Bankers Inc and Crowley Wealth Management Inc, have significantly increased their positions in Dell Technologies during the first quarter of the year.
• The company's stock price has experienced volatility, recently trading at around $127.29, following a quarterly earnings report that missed analysts' expectations.

Mackenzie Financial Corp trimmed its position in Dell Technologies Inc. (NYSE:DELL - Free Report) by 61.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,869 shares of the technology company's stock after selling 47,159 shares during the period. Mackenzie Financial Corp's holdings in Dell Technologies were worth $2,723,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Bellwether Advisors LLC bought a new position in Dell Technologies in the fourth quarter valued at about $25,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of Dell Technologies in the 1st quarter valued at $25,000. Cullen Frost Bankers Inc. grew its stake in 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 buying an additional 222 shares during the last quarter. Crowley Wealth Management Inc. lifted its position in 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 acquiring an additional 150 shares during the period. Finally, Olde Wealth Management LLC acquired a new position in Dell Technologies in the 1st quarter worth about $32,000. 76.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on DELL shares. Raymond James Financial upped their price target on Dell Technologies from $144.00 to $150.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Morgan Stanley upped their price objective on Dell Technologies from $89.00 to $126.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Mizuho upped their price objective on Dell Technologies from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Monday, May 19th. JPMorgan Chase & Co. upped their price objective on Dell Technologies from $125.00 to $145.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Finally, Wall Street Zen cut Dell Technologies from a "buy" rating to a "hold" rating in a research note on Monday, July 14th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $140.06.

Dell Technologies Trading Down 2.3%

Shares of NYSE DELL traded down $3.06 during midday trading on Wednesday, reaching $127.42. 4,519,196 shares of the company were exchanged, compared to its average volume of 7,262,714. Dell Technologies Inc. has a 1 year low of $66.25 and a 1 year high of $147.66. The stock has a fifty day simple moving average of $121.80 and a 200 day simple moving average of $107.16. The stock has a market cap of $86.50 billion, a P/E ratio of 20.33, a PEG ratio of 1.06 and a beta of 1.02.

Dell Technologies (NYSE:DELL - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The technology company reported $1.55 earnings per share 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 during the quarter, compared to analysts' expectations of $23.17 billion. During the same period in the prior year, the firm posted $1.27 EPS. Dell Technologies's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, analysts forecast that Dell Technologies Inc. will post 6.93 earnings per share for the current year.

Dell Technologies Dividend Announcement

The firm also recently declared 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 yield of 1.6%. The ex-dividend date of this dividend was Tuesday, July 22nd. Dell Technologies's dividend payout ratio is 33.49%.

Insider Activity

In other Dell Technologies news, CEO Michael S. Dell sold 10,000,000 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $122.27, for a total value of $1,222,700,000.00. Following the sale, the chief executive officer owned 25,912,241 shares in the company, valued at approximately $3,168,289,707.07. This trade represents a 27.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Brunilda Rios sold 6,000 shares of the firm'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 transaction of $757,740.00. Following the sale, the chief accounting officer owned 18,948 shares of the company's stock, valued at $2,392,942.92. The trade was a 24.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,947,063 shares of company stock worth $1,577,559,812 in the last quarter. Insiders own 42.00% of the company's stock.

Dell Technologies Company 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).