Commonwealth Equity Services LLC Lowers Position in Dell Technologies Inc. (NYSE:DELL)

Commonwealth Equity Services LLC trimmed its stake in Dell Technologies Inc. (NYSE:DELL – Get Rating) by 3.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 78,227 shares of the technology company’s stock after selling 2,782 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Dell Technologies were worth $2,673,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Toronto Dominion Bank lifted its position in Dell Technologies by 3.9% during the second quarter. Toronto Dominion Bank now owns 64,703 shares of the technology company’s stock valued at $2,989,000 after buying an additional 2,419 shares in the last quarter. Ontario Teachers Pension Plan Board acquired a new position in Dell Technologies during the second quarter valued at approximately $394,000. Westpac Banking Corp lifted its position in shares of Dell Technologies by 6.7% during the third quarter. Westpac Banking Corp now owns 113,060 shares of the technology company’s stock worth $3,863,000 after purchasing an additional 7,126 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of Dell Technologies by 1.5% during the second quarter. UBS Asset Management Americas Inc. now owns 1,384,737 shares of the technology company’s stock worth $63,989,000 after purchasing an additional 19,968 shares in the last quarter. Finally, Bowling Portfolio Management LLC acquired a new position in shares of Dell Technologies during the third quarter worth $911,000. 26.42% of the stock is currently owned by hedge funds and other institutional investors.

Dell Technologies Stock Performance

Shares of NYSE:DELL opened at $36.72 on Friday. Dell Technologies Inc. has a 52 week low of $32.90 and a 52 week high of $55.30. The company’s fifty day moving average is $40.94 and its 200-day moving average is $39.81. The company has a market capitalization of $26.30 billion, a PE ratio of 11.40, a P/E/G ratio of 0.74 and a beta of 1.03.

Dell Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 5th. Stockholders of record on Tuesday, April 25th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Monday, April 24th. This is an increase from Dell Technologies’s previous quarterly dividend of $0.33. Dell Technologies’s payout ratio is currently 45.96%.

Insider Activity

In other news, insider William F. Scannell sold 91,938 shares of the business’s stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $42.62, for a total value of $3,918,397.56. Following the sale, the insider now owns 178,627 shares in the company, valued at approximately $7,613,082.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 47.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

DELL has been the subject of several recent research reports. UBS Group lowered their target price on shares of Dell Technologies from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, November 22nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Dell Technologies from $48.00 to $45.00 and set a “buy” rating for the company in a report on Friday, March 3rd. Wells Fargo & Company cut their price target on shares of Dell Technologies from $58.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, November 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Dell Technologies from $50.00 to $47.00 and set an “overweight” rating for the company in a research note on Friday, March 3rd. Finally, Barclays cut their target price on shares of Dell Technologies from $41.00 to $40.00 in a research report on Friday, March 3rd. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Dell Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $47.50.

About Dell Technologies

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Dell Technologies, Inc is a holding company, which engages in the provision of information technology hardware, software, and service solutions through its subsidiaries. It operates through the following segments: Infrastructure Solutions Group (ISG), Client Solutions Group (CSG), and VMware. The ISG segment includes servers, networking, and storage, as well as services and third-party software and peripherals that are closely tied to the sale of ISG hardware.