Pinnacle Associates Ltd. lifted its stake in Dell Technologies Inc. (NYSE:DELL - Free Report) by 50.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,134 shares of the technology company's stock after purchasing an additional 7,787 shares during the quarter. Pinnacle Associates Ltd.'s holdings in Dell Technologies were worth $2,109,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. 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. Cullen Frost Bankers Inc. grew its stake 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. Crowley Wealth Management Inc. grew its stake 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. Finally, Olde Wealth Management LLC acquired a new stake in shares of Dell Technologies during the 1st quarter worth approximately $32,000. 76.37% of the stock is owned by hedge funds and other institutional investors.
Dell Technologies Stock Up 2.2%
NYSE DELL opened at $131.20 on Friday. Dell Technologies Inc. has a 52 week low of $66.25 and a 52 week high of $147.66. The business's fifty day simple moving average is $119.18 and its 200-day simple moving average is $106.19. The firm has a market cap 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 posted its quarterly 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 company had revenue of $23.38 billion for the quarter, compared to analysts' expectations of $23.17 billion. During the same quarter in the prior year, the firm earned $1.27 EPS. The firm's revenue was up 5.1% on a year-over-year basis. Research analysts expect that Dell Technologies Inc. will post 6.93 EPS for the current year.
Dell Technologies Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 22nd will be issued a $0.525 dividend. The ex-dividend date is Tuesday, July 22nd. This represents a $2.10 annualized dividend and a yield of 1.60%. Dell Technologies's dividend payout ratio (DPR) is currently 33.49%.
Analyst Ratings Changes
A number of research firms recently issued reports on DELL. TD Cowen lifted their price target on shares of Dell Technologies from $120.00 to $125.00 and gave the company a "hold" rating in a research note on Friday, May 30th. UBS Group dropped their price target 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. Barclays lifted their price target on shares of Dell Technologies from $116.00 to $123.00 and gave the company an "equal weight" rating in a research note on Friday, May 30th. KeyCorp began coverage on shares of Dell Technologies in a research note on Thursday, June 26th. They issued a "sector weight" rating on the stock. Finally, Raymond James Financial lifted their price target on shares of Dell Technologies from $144.00 to $150.00 and gave the company an "outperform" rating in a research note 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 MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $140.06.
Get Our Latest Stock Report on DELL
Insider Transactions at Dell Technologies
In related news, Director William D. Green sold 20,000 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $130.00, for a total value of $2,600,000.00. Following the sale, the director directly owned 45,045 shares in the company, valued at approximately $5,855,850. The trade was a 30.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Iv (Gp) L.L.C. Slta sold 600,000 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $127.56, for a total transaction of $76,536,000.00. Following the completion of the sale, the director owned 980,295 shares in the company, valued at approximately $125,046,430.20. This trade represents a 37.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,917,063 shares of company stock worth $1,573,509,812 in the last 90 days. Insiders own 42.00% of the company's stock.
Dell Technologies Profile
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Free Report)
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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