Carnegie Investment Counsel Grows Stock Holdings in Dell Technologies Inc. (NYSE:DELL)

Carnegie Investment Counsel raised its holdings in shares of Dell Technologies Inc. (NYSE:DELL) by 1,556.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,753 shares of the technology company’s stock after buying an additional 54,266 shares during the period. Carnegie Investment Counsel’s holdings in Dell Technologies were worth $6,846,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. InTrack Investment Management Inc increased its stake in shares of Dell Technologies by 134.9% in the third quarter. InTrack Investment Management Inc now owns 5,403 shares of the technology company’s stock worth $640,000 after purchasing an additional 3,103 shares in the last quarter. HCR Wealth Advisors boosted its position in shares of Dell Technologies by 23.5% during the third quarter. HCR Wealth Advisors now owns 14,922 shares of the technology company’s stock worth $1,769,000 after acquiring an additional 2,843 shares during the last quarter. Gateway Investment Advisers LLC boosted its position in shares of Dell Technologies by 21.3% during the third quarter. Gateway Investment Advisers LLC now owns 59,801 shares of the technology company’s stock worth $7,089,000 after acquiring an additional 10,481 shares during the last quarter. Avity Investment Management Inc. boosted its position in shares of Dell Technologies by 84.3% during the third quarter. Avity Investment Management Inc. now owns 6,800 shares of the technology company’s stock worth $806,000 after acquiring an additional 3,110 shares during the last quarter. Finally, Meyer Handelman Co. boosted its position in shares of Dell Technologies by 34.6% during the third quarter. Meyer Handelman Co. now owns 40,218 shares of the technology company’s stock worth $4,767,000 after acquiring an additional 10,328 shares during the last quarter. 38.10% of the stock is owned by hedge funds and other institutional investors.

Dell Technologies Stock Performance

NYSE DELL opened at $127.73 on Monday. The company has a market capitalization of $90.60 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 1.29 and a beta of 0.90. The company’s 50-day simple moving average is $111.52 and its two-hundred day simple moving average is $125.18. Dell Technologies Inc. has a one year low of $63.90 and a one year high of $179.70.

Dell Technologies (NYSE:DELL) last posted its earnings results on Thursday, August 29th. The technology company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $25.03 billion for the quarter, compared to the consensus estimate of $24.14 billion. During the same quarter last year, the firm posted $1.44 EPS. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities analysts expect that Dell Technologies Inc. will post 6.91 earnings per share for the current fiscal year.

Dell Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 22nd will be issued a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date of this dividend is Tuesday, October 22nd. Dell Technologies’s dividend payout ratio is currently 36.33%.

Insider Activity

In related news, insider William F. Scannell sold 42,595 shares of Dell Technologies stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $117.29, for a total value of $4,995,967.55. Following the completion of the sale, the insider now directly owns 73,263 shares in the company, valued at $8,593,017.27. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider William F. Scannell sold 42,595 shares of Dell Technologies stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $117.29, for a total value of $4,995,967.55. Following the completion of the sale, the insider now directly owns 73,263 shares in the company, valued at $8,593,017.27. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael S. Dell sold 10,000,000 shares of Dell Technologies stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 16,912,241 shares of the company’s stock, valued at $2,070,058,298.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,978,043 shares of company stock worth $2,116,671,062. Corporate insiders own 46.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Sanford C. Bernstein dropped their target price on shares of Dell Technologies from $155.00 to $140.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. TD Cowen reduced their target price on shares of Dell Technologies from $155.00 to $128.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. Wells Fargo & Company reduced their target price on shares of Dell Technologies from $150.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Raymond James reduced their target price on shares of Dell Technologies from $166.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, August 30th. Finally, UBS Group reduced their target price on shares of Dell Technologies from $164.00 to $158.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $143.50.

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).