National Bank of Canada FI Reduces Position in Dell Technologies Inc. (NYSE:DELL)

Key Points

• National Bank of Canada FI cut its stake in Dell Technologies by 63.6%, leaving it with 374,309 shares valued at approximately $34.1 million.
• Institutional investors own 76.37% of Dell’s stock, with notable new stakes from the Michael & Susan Dell Foundation and increased positions by Janus Henderson Group and Vanguard Group.
• Dell Technologies reported a Q1 EPS of $1.55, missing expectations, but showed a 5.1% increase in revenue year-over-year, leading analysts to predict a current year EPS of 6.93.

National Bank of Canada FI lessened its stake in shares of Dell Technologies Inc. (NYSE:DELL - Free Report) by 63.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 374,309 shares of the technology company's stock after selling 655,187 shares during the period. National Bank of Canada FI owned 0.05% of Dell Technologies worth $34,114,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bellwether Advisors LLC acquired a new position in 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 first quarter valued at about $25,000. N.E.W. Advisory Services LLC acquired a new position in shares of Dell Technologies in the first quarter worth approximately $26,000. Cheviot Value Management LLC bought a new stake in shares of Dell Technologies during the first quarter valued at approximately $27,000. Finally, Cullen Frost Bankers Inc. boosted its position in shares of Dell Technologies by 270.7% during the first quarter. Cullen Frost Bankers Inc. now owns 304 shares of the technology company's stock valued at $28,000 after buying an additional 222 shares during the last quarter. Institutional investors and hedge funds own 76.37% of the company's stock.

Wall Street Analysts Forecast Growth

DELL has been the topic of a number of analyst reports. Citigroup boosted their price objective on Dell Technologies from $135.00 to $160.00 and gave the company a "buy" rating in a research note on Monday. Mizuho increased their target price 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. lifted 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. UBS Group lowered their price target on Dell Technologies from $150.00 to $145.00 and set a "buy" rating for the company in a report on Friday, May 30th. Finally, Bank of America raised their target price on Dell Technologies from $155.00 to $165.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, Dell Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $141.53.

Dell Technologies Stock Performance

Shares of Dell Technologies stock traded up $0.69 on Monday, reaching $138.30. 4,397,526 shares of the stock were exchanged, compared to its average volume of 4,972,846. The firm has a market cap of $93.88 billion, a PE ratio of 22.06, a P/E/G ratio of 0.97 and a beta of 1.02. The firm's 50 day moving average is $123.63 and its 200-day moving average is $107.73. Dell Technologies Inc. has a one year low of $66.25 and a one year high of $147.66.

Dell Technologies (NYSE:DELL - Get Free Report) last posted its earnings results on Thursday, May 29th. The technology company reported $1.55 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $23.17 billion. During the same quarter in the prior year, the business earned $1.27 earnings per share. The firm's quarterly revenue was up 5.1% on a year-over-year basis. On average, equities research analysts expect that Dell Technologies Inc. will post 6.93 EPS for the current fiscal year.

Dell Technologies Dividend Announcement

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 1.5%. 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, Director Iv (Gp) L.L.C. Slta sold 625,000 shares of the business's stock in a transaction on Thursday, June 26th. The shares were 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 $121,158,310. The trade was a 39.43% 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, 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 sale, the chief executive officer owned 25,912,241 shares of the company's stock, valued at $3,168,289,707.07. This trade represents a 27.85% 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.

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).