Massachusetts Financial Services Co. MA Cuts Position in Dell Technologies Inc. (NYSE:DELL)

Massachusetts Financial Services Co. MA decreased its holdings in Dell Technologies Inc. (NYSE:DELL) by 66.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 21,438 shares of the technology company’s stock after selling 41,866 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Dell Technologies were worth $2,541,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. National Pension Service increased its position in shares of Dell Technologies by 8.8% in the third quarter. National Pension Service now owns 620,406 shares of the technology company’s stock valued at $73,543,000 after buying an additional 50,304 shares in the last quarter. Woodmont Investment Counsel LLC purchased a new position in shares of Dell Technologies in the third quarter valued at $5,780,000. Harvey Capital Management Inc. purchased a new position in shares of Dell Technologies in the third quarter valued at $2,848,000. Chicago Capital LLC increased its position in shares of Dell Technologies by 3.7% in the third quarter. Chicago Capital LLC now owns 121,466 shares of the technology company’s stock valued at $14,399,000 after buying an additional 4,385 shares in the last quarter. Finally, Tidal Investments LLC increased its position in shares of Dell Technologies by 114.2% in the first quarter. Tidal Investments LLC now owns 10,188 shares of the technology company’s stock valued at $1,163,000 after buying an additional 5,432 shares in the last quarter. Hedge funds and other institutional investors own 38.10% of the company’s stock.

Dell Technologies Trading Down 1.7 %

Shares of NYSE DELL opened at $141.71 on Wednesday. Dell Technologies Inc. has a twelve month low of $67.51 and a twelve month high of $179.70. The company has a market capitalization of $99.54 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 1.52 and a beta of 0.89. The business has a 50 day simple moving average of $126.91 and a 200-day simple moving average of $126.97.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings results on Tuesday, November 26th. The technology company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.32. Dell Technologies had a negative return on equity of 178.09% and a net margin of 4.32%. The business had revenue of $24.37 billion during the quarter, compared to the consensus estimate of $24.67 billion. During the same period in the previous year, the business earned $1.62 EPS. The business’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, equities analysts predict that Dell Technologies Inc. will post 6.91 earnings per share for the current year.

Dell Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 22nd were given a dividend of $0.445 per share. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $1.78 dividend on an annualized basis and a yield of 1.26%. Dell Technologies’s dividend payout ratio is currently 32.72%.

Analysts Set New Price Targets

DELL has been the subject of a number of recent research reports. Sanford C. Bernstein dropped their price objective on Dell Technologies from $155.00 to $140.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. Evercore ISI reiterated an “outperform” rating and set a $150.00 price objective on shares of Dell Technologies in a research report on Wednesday, November 20th. Citigroup lifted their price objective on Dell Technologies from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Raymond James dropped their price objective on Dell Technologies from $166.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. Finally, Mizuho initiated coverage on Dell Technologies in a research report on Tuesday, September 17th. They set an “outperform” rating and a $135.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $146.50.

Insider Activity at Dell Technologies

In other Dell Technologies news, CFO Yvonne Mcgill sold 8,000 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $143.24, for a total transaction of $1,145,920.00. Following the completion of the transaction, the chief financial officer now owns 236,419 shares in the company, valued at approximately $33,864,657.56. The trade was a 3.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider William F. Scannell sold 42,595 shares of the business’s 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 transaction, the insider now owns 73,263 shares of the company’s stock, valued at $8,593,017.27. This trade represents a 36.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,962,112 shares of company stock worth $2,114,595,059 in the last 90 days. 46.70% of the stock is currently owned by company insiders.

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).