Easterly Investment Partners LLC Takes Position in Dell Technologies Inc. (NYSE:DELL)

Easterly Investment Partners LLC bought a new stake in Dell Technologies Inc. (NYSE:DELL) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 9,000 shares of the technology company’s stock, valued at approximately $1,067,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hollencrest Capital Management increased its holdings in shares of Dell Technologies by 811.9% in the 3rd quarter. Hollencrest Capital Management now owns 611 shares of the technology company’s stock valued at $72,000 after acquiring an additional 544 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in Dell Technologies in the third quarter valued at approximately $151,000. Summit Global Investments purchased a new stake in shares of Dell Technologies during the 3rd quarter worth approximately $744,000. Lewis Asset Management LLC acquired a new position in shares of Dell Technologies in the 3rd quarter valued at $272,000. Finally, Principal Financial Group Inc. raised its stake in Dell Technologies by 59.3% during the 3rd quarter. Principal Financial Group Inc. now owns 459,333 shares of the technology company’s stock worth $54,449,000 after acquiring an additional 170,984 shares in the last quarter. 38.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on DELL. Raymond James cut their target price on Dell Technologies from $166.00 to $160.00 and set an “outperform” rating on the stock in a research report on Friday, August 30th. 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 note on Friday, August 30th. Fox Advisors upgraded shares of Dell Technologies from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 30th. Susquehanna started coverage on shares of Dell Technologies in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $120.00 price objective on the stock. Finally, Citigroup increased their target price on shares of Dell Technologies from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.50.

Dell Technologies Stock Performance

Shares of NYSE DELL opened at $134.25 on Friday. Dell Technologies Inc. has a one year low of $67.51 and a one year high of $179.70. The firm has a market capitalization of $94.30 billion, a P/E ratio of 24.68, a PEG ratio of 1.37 and a beta of 0.89. The company’s fifty day moving average is $120.40 and its two-hundred day moving average is $125.99.

Dell Technologies (NYSE:DELL) last issued its earnings results on Thursday, August 29th. The technology company reported $1.89 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $24.14 billion. During the same period in the prior year, the business posted $1.44 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, sell-side analysts forecast that Dell Technologies Inc. will post 6.91 earnings per share for the current fiscal year.

Dell Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 22nd were issued a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Tuesday, October 22nd. Dell Technologies’s dividend payout ratio (DPR) is 32.72%.

Insider Activity

In related news, CEO Michael S. Dell sold 221,460 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.07, for a total value of $22,604,422.20. Following the sale, the chief executive officer now directly owns 20,190,781 shares of the company’s stock, valued at approximately $2,060,873,016.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Dell Technologies news, CEO Michael S. Dell sold 10,000,000 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $122.40, for a total transaction of $1,224,000,000.00. Following the sale, the chief executive officer now owns 16,912,241 shares in the company, valued at approximately $2,070,058,298.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael S. Dell sold 221,460 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.07, for a total value of $22,604,422.20. Following the completion of the transaction, the chief executive officer now directly owns 20,190,781 shares of the company’s stock, valued at approximately $2,060,873,016.67. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,953,387 shares of company stock worth $2,113,353,236 over the last 90 days. 46.70% of the stock is currently owned by corporate insiders.

Dell Technologies Company Profile

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).