New York State Teachers Retirement System lowered its stake in shares of Dell Technologies Inc. (NYSE:DELL – Get Rating) by 2.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,300 shares of the technology company’s stock after selling 500 shares during the quarter. New York State Teachers Retirement System’s holdings in Dell Technologies were worth $796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in the stock. Riverview Trust Co boosted its position in Dell Technologies by 166.1% during the third quarter. Riverview Trust Co now owns 809 shares of the technology company’s stock valued at $28,000 after purchasing an additional 505 shares in the last quarter. US Bancorp DE boosted its position in Dell Technologies by 12.9% during the third quarter. US Bancorp DE now owns 12,542 shares of the technology company’s stock valued at $428,000 after purchasing an additional 1,437 shares in the last quarter. Prospera Financial Services Inc bought a new stake in Dell Technologies during the third quarter valued at about $206,000. Synovus Financial Corp boosted its position in Dell Technologies by 22.3% during the third quarter. Synovus Financial Corp now owns 7,396 shares of the technology company’s stock valued at $249,000 after purchasing an additional 1,347 shares in the last quarter. Finally, CWM LLC boosted its position in Dell Technologies by 16.7% during the third quarter. CWM LLC now owns 3,739 shares of the technology company’s stock valued at $128,000 after purchasing an additional 536 shares in the last quarter. Institutional investors own 26.42% of the company’s stock.
In related news, insider William F. Scannell sold 91,938 shares of the firm’s stock in a transaction that occurred on Wednesday, December 14th. The stock was sold at an average price of $42.62, for a total value of $3,918,397.56. Following the completion of the transaction, the insider now directly owns 178,627 shares of the company’s stock, valued at approximately $7,613,082.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 47.30% of the company’s stock.
Dell Technologies Trading Down 1.4 %
Dell Technologies (NYSE:DELL – Get Rating) last released its quarterly earnings data on Monday, November 21st. The technology company reported $2.01 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.69. Dell Technologies had a negative return on equity of 208.47% and a net margin of 1.74%. The business had revenue of $24.72 million for the quarter, compared to the consensus estimate of $24.61 billion. During the same quarter in the prior year, the business posted $2.37 EPS. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. Research analysts predict that Dell Technologies Inc. will post 6.46 EPS for the current fiscal year.
Dell Technologies Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 3rd. Shareholders of record on Wednesday, January 25th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, January 24th. This represents a $1.32 dividend on an annualized basis and a yield of 3.35%. Dell Technologies’s payout ratio is 55.46%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on DELL. Credit Suisse Group dropped their price objective on Dell Technologies from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 22nd. Raymond James raised their price target on Dell Technologies from $47.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, November 22nd. Wells Fargo & Company lowered their price target on Dell Technologies from $58.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, November 22nd. Bank of America lowered their price target on Dell Technologies from $60.00 to $55.00 in a report on Tuesday, November 22nd. Finally, Evercore ISI lowered their price target on Dell Technologies from $50.00 to $48.00 in a report on Tuesday, November 22nd. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.63.
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).
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