Allspring Global Investments Holdings LLC Reduces Position in Dell Technologies Inc. (NYSE:DELL)

Allspring Global Investments Holdings LLC cut its position in shares of Dell Technologies Inc. (NYSE:DELL) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 263,320 shares of the technology company’s stock after selling 13,510 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Dell Technologies were worth $30,654,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in DELL. Byrne Asset Management LLC purchased a new stake in Dell Technologies in the 4th quarter valued at about $28,000. True Wealth Design LLC boosted its position in Dell Technologies by 2,530.0% in the 3rd quarter. True Wealth Design LLC now owns 263 shares of the technology company’s stock valued at $31,000 after buying an additional 253 shares during the period. MCF Advisors LLC boosted its position in Dell Technologies by 132.0% in the 3rd quarter. MCF Advisors LLC now owns 290 shares of the technology company’s stock valued at $34,000 after buying an additional 165 shares during the period. Covestor Ltd boosted its position in Dell Technologies by 290.7% in the 3rd quarter. Covestor Ltd now owns 293 shares of the technology company’s stock valued at $35,000 after buying an additional 218 shares during the period. Finally, Versant Capital Management Inc boosted its position in Dell Technologies by 54.7% in the 4th quarter. Versant Capital Management Inc now owns 314 shares of the technology company’s stock valued at $36,000 after buying an additional 111 shares during the period. 76.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on DELL. Melius Research boosted their price objective on shares of Dell Technologies from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Wells Fargo & Company boosted their price target on shares of Dell Technologies from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 18th. OTR Global upgraded shares of Dell Technologies from a “negative” rating to a “positive” rating in a report on Wednesday. Evercore ISI restated an “outperform” rating and issued a $150.00 price target on shares of Dell Technologies in a report on Wednesday, November 20th. Finally, Mizuho reduced their price target on shares of Dell Technologies from $155.00 to $150.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.94.

Dell Technologies Trading Up 3.6 %

Shares of Dell Technologies stock opened at $114.28 on Friday. Dell Technologies Inc. has a 12-month low of $80.49 and a 12-month high of $179.70. The firm has a market capitalization of $80.05 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 0.91 and a beta of 0.90. The firm’s 50 day simple moving average is $113.36 and its two-hundred day simple moving average is $117.10.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings results on Tuesday, November 26th. The technology company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.32. Dell Technologies had a net margin of 4.36% and a negative return on equity of 191.91%. The business had revenue of $24.37 billion for the quarter, compared to analyst estimates of $24.67 billion. During the same quarter in the prior year, the business posted $1.62 EPS. Dell Technologies’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, sell-side analysts predict that Dell Technologies Inc. will post 6.92 EPS for the current fiscal year.

Dell Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 22nd were paid a dividend of $0.445 per share. The ex-dividend date was Wednesday, January 22nd. This represents a $1.78 dividend on an annualized basis and a yield of 1.56%. Dell Technologies’s payout ratio is 31.45%.

Insider Activity

In other news, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $119.73, for a total value of $59,750,657.85. Following the sale, the director now directly owns 810,657 shares of the company’s stock, valued at $97,059,962.61. This represents a 38.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Yvonne Mcgill sold 8,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $143.24, for a total transaction of $1,145,920.00. Following the completion of the sale, the chief financial officer now directly owns 236,419 shares in the company, valued at $33,864,657.56. This trade represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 945,407 shares of company stock valued at $115,564,106 in the last ninety days. Insiders own 46.70% of the company’s stock.

About Dell Technologies

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).