Holderness Investments Co. Boosts Position in Dell Technologies Inc. (NYSE:DELL)

Holderness Investments Co. boosted its stake in Dell Technologies Inc. (NYSE:DELL) by 44.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,514 shares of the technology company’s stock after acquiring an additional 5,730 shares during the period. Holderness Investments Co.’s holdings in Dell Technologies were worth $2,553,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in DELL. Westwood Holdings Group Inc. boosted its stake in shares of Dell Technologies by 45.0% during the 2nd quarter. Westwood Holdings Group Inc. now owns 31,778 shares of the technology company’s stock valued at $4,383,000 after purchasing an additional 9,858 shares in the last quarter. Transatlantique Private Wealth LLC boosted its position in Dell Technologies by 7.4% during the 2nd quarter. Transatlantique Private Wealth LLC now owns 3,298 shares of the technology company’s stock valued at $445,000 after acquiring an additional 227 shares in the last quarter. Thames Capital Management LLC purchased a new position in shares of Dell Technologies during the 2nd quarter worth approximately $13,068,000. Elite Wealth Management Inc. raised its position in shares of Dell Technologies by 24.4% in the 2nd quarter. Elite Wealth Management Inc. now owns 5,171 shares of the technology company’s stock worth $713,000 after acquiring an additional 1,014 shares in the last quarter. Finally, Beaton Management Co. Inc. purchased a new position in shares of Dell Technologies in the 2nd quarter valued at approximately $218,000. 38.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. increased their price objective on Dell Technologies from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Wells Fargo & Company lowered their price target on shares of Dell Technologies from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, August 30th. Citigroup upped their price objective on shares of Dell Technologies from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Fox Advisors raised Dell Technologies from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 30th. Finally, TD Cowen reduced their price objective on Dell Technologies from $155.00 to $128.00 and set a “hold” rating for the company in a research report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.19.

Dell Technologies Stock Performance

Shares of NYSE:DELL opened at $117.50 on Friday. The stock’s 50-day simple moving average is $111.30 and its two-hundred day simple moving average is $124.31. The stock has a market capitalization of $83.34 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 1.15 and a beta of 0.90. Dell Technologies Inc. has a 52-week low of $63.90 and a 52-week high of $179.70.

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

Dell Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 22nd will be given a dividend of $0.445 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $1.78 annualized dividend and a yield of 1.51%. Dell Technologies’s dividend payout ratio (DPR) is presently 36.33%.

Insider Buying and Selling at Dell Technologies

In other news, Director V (Gp) L.L.C. Slta sold 1,000,000 shares of Dell Technologies stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $144.68, for a total transaction of $144,680,000.00. Following the transaction, the director now directly owns 770,369 shares of the company’s stock, valued at approximately $111,456,986.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director V (Gp) L.L.C. Slta sold 1,000,000 shares of Dell Technologies stock in a transaction on Monday, July 8th. The shares were sold at an average price of $144.68, for a total transaction of $144,680,000.00. Following the transaction, the director now owns 770,369 shares in the company, valued at approximately $111,456,986.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Jane Tunnell sold 3,624 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $145.98, for a total value of $529,031.52. Following the sale, the chief marketing officer now directly owns 89,294 shares in the company, valued at $13,035,138.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,297,857 shares of company stock valued at $840,653,193. Company 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).