Scalar Gauge Management LLC Trims Stock Position in Dell Technologies Inc. (NYSE:DELL)

Scalar Gauge Management LLC trimmed its stake in shares of Dell Technologies Inc. (NYSE:DELL) by 22.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,000 shares of the technology company’s stock after selling 11,000 shares during the quarter. Dell Technologies makes up 3.1% of Scalar Gauge Management LLC’s holdings, making the stock its 10th biggest holding. Scalar Gauge Management LLC’s holdings in Dell Technologies were worth $5,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Dell Technologies during the 4th quarter worth about $8,892,000. PNC Financial Services Group Inc. increased its holdings in Dell Technologies by 0.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 34,284 shares of the technology company’s stock worth $2,623,000 after purchasing an additional 216 shares in the last quarter. Assetmark Inc. acquired a new stake in shares of Dell Technologies during the 4th quarter worth approximately $183,000. Franklin Resources Inc. boosted its stake in Dell Technologies by 30.8% during the fourth quarter. Franklin Resources Inc. now owns 33,685 shares of the technology company’s stock worth $2,577,000 after acquiring an additional 7,936 shares in the last quarter. Finally, US Bancorp DE boosted its position in shares of Dell Technologies by 35.6% during the 4th quarter. US Bancorp DE now owns 21,379 shares of the technology company’s stock worth $1,636,000 after purchasing an additional 5,615 shares in the last quarter. 38.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on DELL. Raymond James reduced their price target on shares of Dell Technologies from $166.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. Morgan Stanley dropped their price target on shares of Dell Technologies from $142.00 to $136.00 and set an “overweight” rating on the stock in a research report on Thursday, August 29th. Citigroup lifted their target price on shares of Dell Technologies from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Wells Fargo & Company cut their price objective on Dell Technologies from $150.00 to $140.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Finally, Loop Capital raised their price objective on shares of Dell Technologies from $125.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $139.19.

Insider Transactions at Dell Technologies

In other news, CEO Michael S. Dell sold 1,166,595 shares of Dell Technologies stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $117.42, for a total value of $136,981,584.90. Following the sale, the chief executive officer now directly owns 26,912,241 shares in the company, valued at approximately $3,160,035,338.22. The sale was disclosed in a filing with the SEC, which is available through this link. In other Dell Technologies news, CEO Michael S. Dell sold 1,839,959 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $106.68, for a total value of $196,286,826.12. Following the completion of the sale, the chief executive officer now directly owns 18,350,822 shares in the company, valued at $1,957,665,690.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael S. Dell sold 1,166,595 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $117.42, for a total value of $136,981,584.90. Following the transaction, the chief executive officer now owns 26,912,241 shares in the company, valued at approximately $3,160,035,338.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,964,452 shares of company stock worth $1,036,599,778. Company insiders own 46.70% of the company’s stock.

Dell Technologies Price Performance

Shares of NYSE DELL opened at $117.55 on Tuesday. The stock has a market capitalization of $83.38 billion, a P/E ratio of 23.99, a PEG ratio of 1.15 and a beta of 0.90. Dell Technologies Inc. has a one year low of $63.90 and a one year high of $179.70. The firm’s 50 day simple moving average is $110.91 and its two-hundred day simple moving average is $124.33.

Dell Technologies (NYSE:DELL) last issued its earnings results on Thursday, August 29th. The technology company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. Dell Technologies had a negative return on equity of 178.09% and a net margin of 4.32%. The company had revenue of $25.03 billion during the quarter, compared to analysts’ expectations of $24.14 billion. During the same period in the prior year, the business posted $1.44 EPS. Dell Technologies’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, equities analysts expect that Dell Technologies Inc. will post 6.9 earnings per share for the current fiscal year.

Dell Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 22nd will be given a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date is Tuesday, October 22nd. Dell Technologies’s payout ratio is 36.33%.

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).