Asset Dedication LLC Sells 244 Shares of Dell Technologies Inc. (NYSE:DELL)

by · The Cerbat Gem

Asset Dedication LLC reduced its holdings in Dell Technologies Inc. (NYSE:DELL – Free Report) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,234 shares of the technology company’s stock after selling 244 shares during the quarter. Asset Dedication LLC’s holdings in Dell Technologies were worth $386,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DELL. 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 bought a new stake in shares of Dell Technologies during the 1st quarter valued at $25,000. Lee Danner & Bass Inc. bought a new position in shares of Dell Technologies in the 4th quarter worth $26,000. Crowley Wealth Management Inc. grew its stake in shares of Dell Technologies by 86.2% during the first 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 bought a new stake in Dell Technologies in the first quarter valued at about $32,000. 76.37% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Michael S. Dell sold 10,000,000 shares of the business’s stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $122.27, for a total transaction of $1,222,700,000.00. Following the completion of the sale, the chief executive officer owned 25,912,241 shares in the company, valued at $3,168,289,707.07. The trade was a 27.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Richard J. Rothberg sold 70,165 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $108.82, for a total value of $7,635,355.30. Following the transaction, the general counsel owned 79,928 shares in the company, valued at approximately $8,697,764.96. This trade represents a 46.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,113,977 shares of company stock worth $1,471,321,229 in the last 90 days. Corporate insiders own 42.00% of the company’s stock.

Analysts Set New Price Targets

DELL has been the subject of several analyst reports. Raymond James Financial boosted their target price on Dell Technologies from $144.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th. Evercore ISI reiterated an “outperform” rating on shares of Dell Technologies in a report on Thursday, May 29th. UBS Group decreased their price target on shares of Dell Technologies from $150.00 to $145.00 and set a “buy” rating for the company in a report on Friday, May 30th. TD Cowen upped their price objective on shares of Dell Technologies from $120.00 to $125.00 and gave the company a “hold” rating in a research report on Friday, May 30th. Finally, Citigroup boosted their target price on Dell Technologies from $128.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, May 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Dell Technologies has an average rating of “Moderate Buy” and a consensus target price of $138.00.

View Our Latest Report on DELL

Dell Technologies Stock Performance

Shares of DELL stock opened at $126.90 on Monday. Dell Technologies Inc. has a 52-week low of $66.25 and a 52-week high of $147.66. The stock has a market cap of $86.15 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 1.17 and a beta of 1.02. The firm’s 50-day moving average is $114.25 and its 200-day moving average is $105.50.

Dell Technologies (NYSE:DELL – Get Free Report) last released its quarterly earnings data 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). Dell Technologies had a net margin of 4.63% and a negative return on equity of 226.48%. The business had revenue of $23.38 billion during the quarter, compared to analyst estimates of $23.17 billion. During the same period in the previous year, the business earned $1.27 earnings per share. The business’s quarterly revenue was up 5.1% on a year-over-year basis. Sell-side analysts predict that Dell Technologies Inc. will post 6.93 EPS 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. Investors of record on Tuesday, July 22nd will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 1.65%. The ex-dividend date is Tuesday, July 22nd. Dell Technologies’s payout ratio is 33.49%.

About Dell Technologies

(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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