Prudential PLC Decreases Stock Position in Dell Technologies Inc. (NYSE:DELL)

Key Points

• Prudential PLC reduced its stake in Dell Technologies by 3.7%, selling 5,192 shares and now holding 136,510 shares valued at approximately $12.4 million.
• Various institutional investors, including Bulltick Wealth Management and Resona Asset Management, have increased their stakes in Dell Technologies during the first quarter, indicating a growing interest in the company.
• Dell Technologies reported $1.55 EPS for the last quarter, missing projections by $0.13, although revenue increased by 5.1% year-over-year, totaling $23.38 billion.

Prudential PLC trimmed its position in Dell Technologies Inc. (NYSE:DELL - Free Report) by 3.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 136,510 shares of the technology company's stock after selling 5,192 shares during the quarter. Prudential PLC's holdings in Dell Technologies were worth $12,443,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Bellwether Advisors LLC acquired a new stake in Dell Technologies during the 4th quarter worth $25,000. Smallwood Wealth Investment Management LLC acquired a new stake in Dell Technologies during the 1st quarter worth $25,000. N.E.W. Advisory Services LLC purchased a new position in Dell Technologies during the 1st quarter worth $26,000. Cheviot Value Management LLC purchased a new position in Dell Technologies during the 1st quarter worth $27,000. Finally, Cullen Frost Bankers Inc. grew its position 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 purchasing an additional 222 shares during the last quarter. 76.37% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director V (Gp) L.L.C. Slta sold 527,187 shares of the business's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $112.83, for a total value of $59,482,509.21. Following the completion of the transaction, the director owned 938,741 shares of the company's stock, valued at $105,918,147.03. The trade was a 35.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 625,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director directly owned 960,050 shares of the company's stock, valued at approximately $121,158,310. This represents a 39.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,989,063 shares of company stock valued at $1,583,673,412. 42.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DELL. Mizuho raised their price objective on shares of Dell Technologies from $140.00 to $145.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. UBS Group lowered their target price on shares of Dell Technologies from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Friday, May 30th. Evercore ISI lifted their target price on shares of Dell Technologies from $150.00 to $160.00 and gave the company an "outperform" rating in a report on Friday. Wall Street Zen downgraded shares of Dell Technologies from a "buy" rating to a "hold" rating in a report on Monday, July 14th. Finally, Barclays lifted their target price 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. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Dell Technologies has a consensus rating of "Moderate Buy" and an average price target of $143.00.

Dell Technologies Price Performance

DELL traded down $0.59 during midday trading on Friday, reaching $138.27. 3,447,239 shares of the company's stock were exchanged, compared to its average volume of 5,058,493. The stock has a market capitalization of $93.86 billion, a PE ratio of 22.05, a P/E/G ratio of 0.97 and a beta of 1.02. The business's 50-day moving average price is $125.79 and its 200 day moving average price is $108.68. Dell Technologies Inc. has a 1-year low of $66.25 and a 1-year high of $147.66.

Dell Technologies (NYSE:DELL - Get Free Report) last announced its earnings results on Thursday, May 29th. The technology company reported $1.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.68 by ($0.13). The business had revenue of $23.38 billion for the quarter, compared to analyst estimates of $23.17 billion. Dell Technologies had a negative return on equity of 226.48% and a net margin of 4.63%. The business's revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.27 EPS. As a group, analysts expect that Dell Technologies Inc. will post 6.93 EPS for the current fiscal year.

Dell Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were given 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 of this dividend was Tuesday, July 22nd. Dell Technologies's payout ratio is currently 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).