Primecap Management Co. CA Has $36.88 Million Holdings in Dell Technologies Inc. (NYSE:DELL)

Key Points

• Primecap Management Co. CA reduced its stake in Dell Technologies Inc. by 1.6%, now holding 404,630 shares valued at approximately $36.88 million.
• Dell Technologies reported $1.55 earnings per share for the most recent quarter, missing expectations of $1.68, while achieving a revenue of $23.38 billion, above the anticipated $23.17 billion.
• The company announced a quarterly dividend of $0.525 per share, translating to an annualized yield of 1.6%, with a payout ratio of 33.49%.

Primecap Management Co. CA reduced its holdings in Dell Technologies Inc. (NYSE:DELL - Free Report) by 1.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 404,630 shares of the technology company's stock after selling 6,690 shares during the quarter. Primecap Management Co. CA owned 0.06% of Dell Technologies worth $36,882,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in DELL. Brighton Jones LLC raised its holdings in shares of Dell Technologies by 42.7% in the 4th quarter. Brighton Jones LLC now owns 3,011 shares of the technology company's stock worth $347,000 after purchasing an additional 901 shares in the last quarter. World Investment Advisors acquired a new stake in shares of Dell Technologies during the fourth quarter valued at approximately $354,000. ExodusPoint Capital Management LP acquired a new stake in shares of Dell Technologies during the fourth quarter valued at approximately $1,829,000. Envestnet Asset Management Inc. raised its holdings in shares of Dell Technologies by 7.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 566,491 shares of the technology company's stock valued at $65,282,000 after acquiring an additional 38,606 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in shares of Dell Technologies by 5.0% during the fourth quarter. Russell Investments Group Ltd. now owns 134,841 shares of the technology company's stock valued at $15,538,000 after acquiring an additional 6,377 shares during the period. 76.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Evercore ISI restated an "outperform" rating on shares of Dell Technologies in a report on Thursday, May 29th. 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 report on Friday, May 30th. Barclays boosted their price target on shares of Dell Technologies from $116.00 to $123.00 and gave the company an "equal weight" rating in a report on Friday, May 30th. Citigroup boosted their price objective on shares of Dell Technologies from $128.00 to $135.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Finally, KeyCorp assumed coverage on shares of Dell Technologies in a research report on Thursday, June 26th. They set a "sector weight" rating on the stock. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $140.06.

Insiders Place Their Bets

In other news, Director Iv (Gp) L.L.C. Slta sold 600,000 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $127.56, for a total value of $76,536,000.00. Following the completion of the sale, the director directly owned 980,295 shares in the company, valued at approximately $125,046,430.20. The trade was a 37.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director V (Gp) L.L.C. Slta sold 6,086 shares of the business's stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $123.50, for a total transaction of $751,621.00. Following the completion of the sale, the director owned 986,261 shares of the company's stock, valued at $121,803,233.50. The trade was a 0.61% 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 valued at $1,577,559,812 in the last three months. Company insiders own 42.00% of the company's stock.

Dell Technologies Stock Performance

Shares of NYSE DELL traded up $3.80 during mid-day trading on Friday, reaching $137.73. 5,456,405 shares of the company traded hands, compared to its average volume of 4,877,929. The company's fifty day moving average is $123.02 and its two-hundred day moving average is $107.65. Dell Technologies Inc. has a fifty-two week low of $66.25 and a fifty-two week high of $147.66. The stock has a market cap of $93.50 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 0.94 and a beta of 1.02.

Dell Technologies (NYSE:DELL - Get Free Report) last announced 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 net margin of 4.63% and a negative return on equity of 226.48%. The company had revenue of $23.38 billion for the quarter, compared to analyst estimates of $23.17 billion. During the same quarter last year, the business earned $1.27 EPS. The company's revenue for the quarter was up 5.1% on a year-over-year basis. Research analysts forecast that Dell Technologies Inc. will post 6.93 earnings per share for the current year.

Dell Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were paid a $0.525 dividend. 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%.

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).