Principal Financial Group Inc. Sells 147,881 Shares of Dell Technologies Inc. (NYSE:DELL)

Principal Financial Group Inc. lowered its holdings in Dell Technologies Inc. (NYSE:DELL - Free Report) by 29.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 346,078 shares of the technology company's stock after selling 147,881 shares during the quarter. Principal Financial Group Inc.'s holdings in Dell Technologies were worth $31,545,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in DELL. Oregon Public Employees Retirement Fund increased its position in shares of Dell Technologies by 1.6% during the first quarter. Oregon Public Employees Retirement Fund now owns 26,773 shares of the technology company's stock valued at $2,440,000 after acquiring an additional 420 shares during the last quarter. Clarity Capital Partners LLC lifted its stake in Dell Technologies by 57.7% in the first quarter. Clarity Capital Partners LLC now owns 20,947 shares of the technology company's stock worth $1,909,000 after acquiring an additional 7,664 shares during the last quarter. Capital Investment Counsel Inc lifted its position in shares of Dell Technologies by 93.2% during the 1st quarter. Capital Investment Counsel Inc now owns 6,187 shares of the technology company's stock worth $564,000 after buying an additional 2,984 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Dell Technologies by 232.1% during the 1st quarter. Teacher Retirement System of Texas now owns 62,124 shares of the technology company's stock worth $5,663,000 after buying an additional 43,415 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of Dell Technologies by 32.9% during the 1st quarter. First Horizon Advisors Inc. now owns 586 shares of the technology company's stock worth $53,000 after buying an additional 145 shares during the last quarter. 76.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Mizuho upped their price target on shares of Dell Technologies from $140.00 to $145.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Raymond James Financial upped their price target on shares of Dell Technologies from $144.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. KeyCorp assumed coverage on shares of Dell Technologies in a research note on Thursday, June 26th. They set a "sector weight" rating on the stock. UBS Group lowered 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. Finally, Wall Street Zen raised shares of Dell Technologies from a "hold" rating to a "buy" rating in a research note on Sunday, July 6th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $138.00.

Insider Activity

In other Dell Technologies news, CEO Michael S. Dell sold 10,000,000 shares of Dell Technologies stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 25,912,241 shares of the company's stock, valued at approximately $3,168,289,707.07. This trade represents a 27.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director V (Gp) L.L.C. Slta sold 527,187 shares of the business's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $112.83, for a total transaction of $59,482,509.21. Following the transaction, the director directly owned 938,741 shares in the company, valued at approximately $105,918,147.03. The trade was a 35.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 12,113,977 shares of company stock valued at $1,471,321,229. Insiders own 42.00% of the company's stock.

Dell Technologies Price Performance

Shares of DELL stock traded down $1.01 on Friday, hitting $126.90. The stock had a trading volume of 3,558,127 shares, compared to its average volume of 8,612,370. Dell Technologies Inc. has a 12-month low of $66.25 and a 12-month high of $147.66. The business has a 50 day moving average of $113.61 and a 200 day moving average of $105.63. The stock has a market cap of $86.15 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 1.18 and a beta of 1.02.

Dell Technologies (NYSE:DELL - Get Free Report) last issued its earnings results 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 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 the consensus estimate of $23.17 billion. During the same quarter in the prior year, the business earned $1.27 EPS. Dell Technologies's revenue for the quarter was up 5.1% compared to the same quarter last year. As a group, research analysts expect that Dell Technologies Inc. will post 6.93 earnings per share for the current fiscal year.

Dell Technologies Dividend Announcement

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

Dell Technologies 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).