Allstate Corp Lowers Stock Position in Dell Technologies Inc. (NYSE:DELL)

Allstate Corp lessened its holdings in Dell Technologies Inc. (NYSE:DELL) by 24.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,777 shares of the technology company’s stock after selling 903 shares during the quarter. Allstate Corp’s holdings in Dell Technologies were worth $212,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. lifted its position in shares of Dell Technologies by 5.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 134,093 shares of the technology company’s stock valued at $9,239,000 after acquiring an additional 7,197 shares during the period. Signaturefd LLC lifted its position in shares of Dell Technologies by 32.2% during the 3rd quarter. Signaturefd LLC now owns 4,882 shares of the technology company’s stock valued at $336,000 after acquiring an additional 1,189 shares during the period. NBC Securities Inc. acquired a new stake in shares of Dell Technologies during the 3rd quarter valued at approximately $476,000. Achmea Investment Management B.V. lifted its position in shares of Dell Technologies by 154.8% during the 3rd quarter. Achmea Investment Management B.V. now owns 79,068 shares of the technology company’s stock valued at $5,447,000 after acquiring an additional 48,036 shares during the period. Finally, Empower Advisory Group LLC raised its position in shares of Dell Technologies by 4.9% during the 3rd quarter. Empower Advisory Group LLC now owns 4,986 shares of the technology company’s stock worth $344,000 after purchasing an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 38.10% of the company’s stock.

Analysts Set New Price Targets

DELL has been the subject of several research reports. Barclays lifted their price objective on Dell Technologies from $94.00 to $98.00 and gave the stock an “underweight” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on Dell Technologies from $125.00 to $155.00 and gave the stock an “overweight” rating in a research report on Monday. Morgan Stanley lifted their price objective on Dell Technologies from $128.00 to $152.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. TD Cowen lifted their price objective on Dell Technologies from $75.00 to $105.00 and gave the stock a “market perform” rating in a research report on Friday, March 1st. Finally, Wells Fargo & Company lifted their target price on shares of Dell Technologies from $140.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $122.00.

Insiders Place Their Bets

In other news, CEO Michael S. Dell sold 624,450 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $119.80, for a total value of $74,809,110.00. Following the sale, the chief executive officer now owns 39,787,791 shares in the company, valued at approximately $4,766,577,361.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Iv (Gp) L.L.C. Slta sold 42,545 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $134.37, for a total value of $5,716,771.65. Following the sale, the director now owns 535,816 shares in the company, valued at approximately $71,997,595.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael S. Dell sold 624,450 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $119.80, for a total transaction of $74,809,110.00. Following the sale, the chief executive officer now owns 39,787,791 shares in the company, valued at approximately $4,766,577,361.80. The disclosure for this sale can be found here. Insiders have sold 6,382,204 shares of company stock worth $718,452,037 in the last quarter. 48.60% of the stock is owned by corporate insiders.

Dell Technologies Stock Performance

Dell Technologies stock traded up $10.41 during trading on Friday, reaching $163.98. 9,861,719 shares of the company’s stock were exchanged, compared to its average volume of 7,151,482. The company’s 50-day moving average is $124.87 and its two-hundred day moving average is $97.11. Dell Technologies Inc. has a 52-week low of $44.45 and a 52-week high of $166.77. The firm has a market cap of $117.05 billion, a price-to-earnings ratio of 37.21, a PEG ratio of 2.31 and a beta of 0.87.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings data on Thursday, February 29th. The technology company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.47. Dell Technologies had a net margin of 3.63% and a negative return on equity of 172.07%. The firm had revenue of $22.32 billion for the quarter, compared to analyst estimates of $22.17 billion. During the same quarter in the previous year, the business posted $1.55 EPS. The firm’s revenue was down 10.9% compared to the same quarter last year. Analysts anticipate that Dell Technologies Inc. will post 6.74 EPS for the current year.

Dell Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd were issued a $0.445 dividend. The ex-dividend date was Monday, April 22nd. This represents a $1.78 dividend on an annualized basis and a yield of 1.09%. This is a positive change from Dell Technologies’s previous quarterly dividend of $0.37. Dell Technologies’s payout ratio is currently 40.73%.

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).