Scotia Capital Inc. Purchases 7,255 Shares of Dell Technologies Inc. (NYSE:DELL)

Key Points

• Scotia Capital Inc. increased its stake in Dell Technologies by 15.4% in the first quarter, acquiring an additional 7,255 shares, bringing its total holdings to 54,427 shares valued at approximately $4.96 million.
• Several institutional investors recently made purchases in Dell Technologies, contributing to an overall 76.37% ownership by institutional investors in the company.
• Analysts maintain a consensus rating of "Moderate Buy" for Dell Technologies, with an average target price of $140.06, following a mix of upgrade ratings from firms like Bank of America and Citigroup.

Scotia Capital Inc. grew its position in Dell Technologies Inc. (NYSE:DELL - Free Report) by 15.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,427 shares of the technology company's stock after acquiring an additional 7,255 shares during the quarter. Scotia Capital Inc.'s holdings in Dell Technologies were worth $4,961,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Bellwether Advisors LLC purchased a new position in shares of Dell Technologies during the fourth quarter valued at approximately $25,000. Smallwood Wealth Investment Management LLC bought a new stake in shares of Dell Technologies during the 1st quarter worth approximately $25,000. N.E.W. Advisory Services LLC purchased a new position in Dell Technologies during the 1st quarter valued at $26,000. Cheviot Value Management LLC bought a new position in Dell Technologies in the 1st quarter valued at $27,000. Finally, Cullen Frost Bankers Inc. increased its stake in Dell Technologies by 270.7% in the first 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. Institutional investors own 76.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Evercore ISI reissued an "outperform" rating on shares of Dell Technologies in a research note on Thursday, May 29th. Bank of America upped their target price on shares of Dell Technologies from $155.00 to $165.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. KeyCorp assumed coverage on shares of Dell Technologies in a research note on Thursday, June 26th. They set a "sector weight" rating for the company. TD Cowen boosted their price target on Dell Technologies from $120.00 to $125.00 and gave the company a "hold" rating in a report on Friday, May 30th. Finally, Citigroup raised their price objective on Dell Technologies from $128.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $140.06.

Dell Technologies Trading Up 2.3%

NYSE DELL opened at $130.21 on Tuesday. Dell Technologies Inc. has a 12-month low of $66.25 and a 12-month high of $147.66. The firm's fifty day simple moving average is $121.47 and its two-hundred day simple moving average is $107.00. The firm has a market capitalization of $88.39 billion, a P/E ratio of 20.77, a P/E/G ratio of 1.03 and a beta of 1.02.

Dell Technologies (NYSE:DELL - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The technology company reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.68 by ($0.13). The business had revenue of $23.38 billion during 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%. Dell Technologies's revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.27 EPS. As a group, sell-side analysts predict that Dell Technologies Inc. will post 6.93 earnings per share for the current fiscal year.

Dell Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, July 22nd. Dell Technologies's dividend payout ratio is currently 33.49%.

Insiders Place Their Bets

In other Dell Technologies news, Director V (Gp) L.L.C. Slta sold 6,086 shares of Dell Technologies stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $123.50, for a total value of $751,621.00. Following the completion of the transaction, the director owned 986,261 shares of the company's stock, valued at approximately $121,803,233.50. The trade was a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Brunilda Rios sold 6,000 shares of the stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $126.29, for a total transaction of $757,740.00. Following the sale, the chief accounting officer directly owned 18,948 shares in the company, valued at approximately $2,392,942.92. The trade was a 24.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,947,063 shares of company stock worth $1,577,559,812. Corporate insiders own 42.00% of the company's stock.

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).

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