Covestor Ltd Grows Stock Holdings in Dell Technologies Inc. (NYSE:DELL)

Covestor Ltd increased its stake in shares of Dell Technologies Inc. (NYSE:DELL) by 290.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 293 shares of the technology company’s stock after buying an additional 218 shares during the quarter. Covestor Ltd’s holdings in Dell Technologies were worth $35,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DELL. GPS Wealth Strategies Group LLC increased its position in Dell Technologies by 1.4% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 5,959 shares of the technology company’s stock worth $822,000 after purchasing an additional 80 shares during the period. Graypoint LLC boosted its stake in shares of Dell Technologies by 4.3% during the 3rd quarter. Graypoint LLC now owns 2,086 shares of the technology company’s stock worth $247,000 after acquiring an additional 86 shares in the last quarter. Affinity Wealth Management LLC boosted its stake in shares of Dell Technologies by 2.5% during the 3rd quarter. Affinity Wealth Management LLC now owns 3,560 shares of the technology company’s stock worth $422,000 after acquiring an additional 87 shares in the last quarter. ASB Consultores LLC boosted its stake in shares of Dell Technologies by 4.6% during the 3rd quarter. ASB Consultores LLC now owns 1,987 shares of the technology company’s stock worth $236,000 after acquiring an additional 87 shares in the last quarter. Finally, Equitable Trust Co. boosted its stake in shares of Dell Technologies by 3.1% during the 3rd quarter. Equitable Trust Co. now owns 2,942 shares of the technology company’s stock worth $349,000 after acquiring an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 38.10% of the company’s stock.

Dell Technologies Stock Down 2.1 %

DELL stock opened at $131.62 on Friday. The company has a market cap of $92.45 billion, a price-to-earnings ratio of 24.19, a PEG ratio of 1.42 and a beta of 0.89. The business has a fifty day simple moving average of $122.43 and a 200-day simple moving average of $126.37. Dell Technologies Inc. has a 52 week low of $67.51 and a 52 week high of $179.70.

Dell Technologies (NYSE:DELL) last released its quarterly earnings data on Thursday, August 29th. The technology company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $25.03 billion during the quarter, compared to the consensus estimate of $24.14 billion. Dell Technologies had a negative return on equity of 178.09% and a net margin of 4.32%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.44 EPS. As a group, analysts expect that Dell Technologies Inc. will post 6.92 earnings per share for the current fiscal year.

Dell Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 22nd were issued a $0.445 dividend. The ex-dividend date was Tuesday, October 22nd. This represents a $1.78 annualized dividend and a yield of 1.35%. Dell Technologies’s dividend payout ratio is currently 32.72%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DELL. Barclays boosted their price target on Dell Technologies from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Friday, August 30th. Mizuho assumed coverage on Dell Technologies in a research note on Tuesday, September 17th. They set an “outperform” rating and a $135.00 price target on the stock. TD Cowen reduced their target price on Dell Technologies from $155.00 to $128.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. Fox Advisors raised Dell Technologies from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 30th. Finally, UBS Group reduced their target price on Dell Technologies from $164.00 to $158.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Dell Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $144.63.

Insider Activity at Dell Technologies

In related news, insider William F. Scannell sold 42,595 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $117.29, for a total value of $4,995,967.55. Following the completion of the sale, the insider now directly owns 73,263 shares in the company, valued at approximately $8,593,017.27. This represents a 36.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael S. Dell sold 1,839,959 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $106.68, for a total transaction of $196,286,826.12. Following the completion of the transaction, the chief executive officer now directly owns 18,350,822 shares of the company’s stock, valued at approximately $1,957,665,690.96. The trade was a 9.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 17,953,387 shares of company stock worth $2,113,353,236. Corporate insiders own 46.70% of the company’s stock.

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).