Gabelli Funds LLC Reduces Stock Position in Dell Technologies Inc. (NYSE:DELL)

Gabelli Funds LLC lowered its stake in shares of Dell Technologies Inc. (NYSE:DELLFree Report) by 18.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,300 shares of the technology company’s stock after selling 4,800 shares during the period. Gabelli Funds LLC’s holdings in Dell Technologies were worth $1,468,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Banco Santander S.A. lifted its holdings in Dell Technologies by 61.7% in the 3rd quarter. Banco Santander S.A. now owns 106,778 shares of the technology company’s stock worth $7,357,000 after buying an additional 40,750 shares in the last quarter. Achmea Investment Management B.V. increased its position in shares of Dell Technologies by 154.8% in the 3rd quarter. Achmea Investment Management B.V. now owns 79,068 shares of the technology company’s stock worth $5,447,000 after purchasing an additional 48,036 shares during the last quarter. MRP Capital Investments LLC increased its position in shares of Dell Technologies by 105.5% in the 3rd quarter. MRP Capital Investments LLC now owns 35,389 shares of the technology company’s stock worth $2,438,000 after purchasing an additional 18,164 shares during the last quarter. Versor Investments LP bought a new stake in shares of Dell Technologies in the 3rd quarter worth about $2,089,000. Finally, Rheos Capital Works Inc. bought a new stake in shares of Dell Technologies in the 3rd quarter worth about $34,795,000. Hedge funds and other institutional investors own 38.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Dell Technologies from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, December 1st. JPMorgan Chase & Co. raised shares of Dell Technologies from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $77.00 to $90.00 in a research report on Monday, January 8th. Raymond James boosted their price objective on shares of Dell Technologies from $68.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, December 1st. Sanford C. Bernstein boosted their price objective on shares of Dell Technologies from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. Finally, TD Cowen upped their target price on shares of Dell Technologies from $58.00 to $75.00 and gave the stock a “market perform” rating in a research report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Dell Technologies has an average rating of “Moderate Buy” and a consensus target price of $78.80.

Read Our Latest Analysis on DELL

Dell Technologies Trading Up 1.7 %

NYSE DELL opened at $86.20 on Friday. The company has a fifty day simple moving average of $77.65 and a 200 day simple moving average of $69.73. The company has a market cap of $61.34 billion, a P/E ratio of 23.81, a P/E/G ratio of 1.16 and a beta of 0.90. Dell Technologies Inc. has a 1 year low of $35.96 and a 1 year high of $86.90.

Dell Technologies (NYSE:DELLGet Free Report) last issued its quarterly earnings results on Thursday, November 30th. The technology company reported $1.88 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.42. Dell Technologies had a net margin of 2.92% and a negative return on equity of 150.29%. The firm had revenue of $22.25 billion during the quarter, compared to the consensus estimate of $23.01 billion. During the same period in the prior year, the firm earned $2.01 EPS. The business’s revenue was down 10.0% on a year-over-year basis. Equities research analysts forecast that Dell Technologies Inc. will post 5.66 EPS for the current fiscal year.

Dell Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 2nd. Stockholders of record on Tuesday, January 23rd were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend was Monday, January 22nd. Dell Technologies’s payout ratio is 40.88%.

Insider Transactions at Dell Technologies

In other news, Director Iv (Gp) L.L.C. Slta sold 3,179,972 shares of the firm’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $78.81, for a total transaction of $250,613,593.32. Following the completion of the transaction, the director now directly owns 293,812 shares of the company’s stock, valued at approximately $23,155,323.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 48.60% of the stock is owned by insiders.

Dell Technologies Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Dell Technologies (NYSE:DELL)

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