abrdn plc cut its stake in shares of Dell Technologies Inc. (NYSE:DELL – Get Rating) by 42.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 37,206 shares of the technology company’s stock after selling 27,050 shares during the period. abrdn plc’s holdings in Dell Technologies were worth $1,914,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. grew its holdings in shares of Dell Technologies by 65.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 11,836 shares of the technology company’s stock worth $664,000 after buying an additional 4,668 shares in the last quarter. Congress Wealth Management LLC DE purchased a new stake in shares of Dell Technologies during the fourth quarter worth $262,000. Third Point LLC grew its holdings in shares of Dell Technologies by 7.1% during the fourth quarter. Third Point LLC now owns 3,600,000 shares of the technology company’s stock worth $202,212,000 after buying an additional 240,000 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Dell Technologies by 74.1% during the first quarter. Nisa Investment Advisors LLC now owns 3,523 shares of the technology company’s stock worth $177,000 after buying an additional 1,500 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. grew its holdings in shares of Dell Technologies by 61.7% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 97,864 shares of the technology company’s stock worth $5,497,000 after buying an additional 37,344 shares in the last quarter. 30.05% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
DELL has been the subject of a number of analyst reports. Bank of America upped their price objective on shares of Dell Technologies from $65.00 to $67.00 and gave the company a “buy” rating in a report on Friday, May 27th. KGI Securities initiated coverage on shares of Dell Technologies in a report on Tuesday, April 19th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. dropped their price objective on shares of Dell Technologies from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, July 14th. Morgan Stanley dropped their price objective on shares of Dell Technologies from $60.00 to $56.00 and set an “equal weight” rating for the company in a report on Friday, May 27th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Dell Technologies from $65.00 to $60.00 in a report on Friday, May 27th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $71.15.
Insider Activity at Dell Technologies
Dell Technologies Stock Performance
Shares of DELL opened at $45.42 on Tuesday. The stock has a market capitalization of $33.59 billion, a PE ratio of 6.23, a P/E/G ratio of 0.63 and a beta of 0.83. Dell Technologies Inc. has a 1 year low of $38.33 and a 1 year high of $61.54. The company’s 50-day simple moving average is $46.24 and its 200-day simple moving average is $49.80.
Dell Technologies (NYSE:DELL – Get Rating) last issued its quarterly earnings results on Thursday, May 26th. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.52. The business had revenue of $26.12 billion for the quarter, compared to analysts’ expectations of $25.23 billion. Dell Technologies had a net margin of 5.29% and a return on equity of 126.94%. The business’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.13 earnings per share. On average, sell-side analysts predict that Dell Technologies Inc. will post 5.99 earnings per share for the current year.
Dell Technologies Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Wednesday, July 20th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, July 19th. This represents a $1.32 annualized dividend and a dividend yield of 2.91%. Dell Technologies’s dividend payout ratio is presently 18.11%.
About Dell Technologies
Dell Technologies Inc designs, develops, manufactures, markets, sells, and supports information technology (IT) solutions, products, and services worldwide. The company operates through three segments: Infrastructure Solutions Group (ISG), Client Solutions Group (CSG), and VMware. The ISG segment provides traditional and next-generation storage solutions; and rack, blade, tower, and hyperscale servers.
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