Prudential PLC Grows Stock Position in Dell Technologies Inc. (NYSE:DELL)

Prudential PLC lifted its position in shares of Dell Technologies Inc. (NYSE:DELL) by 3,014.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 74,318 shares of the technology company’s stock after acquiring an additional 71,932 shares during the quarter. Prudential PLC’s holdings in Dell Technologies were worth $10,249,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in DELL. PFG Investments LLC raised its holdings in Dell Technologies by 17.7% during the 2nd quarter. PFG Investments LLC now owns 5,222 shares of the technology company’s stock valued at $720,000 after acquiring an additional 785 shares during the period. Pathway Capital Management LP purchased a new stake in Dell Technologies during the 2nd quarter worth about $789,000. HCR Wealth Advisors boosted its stake in Dell Technologies by 418.4% in the 2nd quarter. HCR Wealth Advisors now owns 12,079 shares of the technology company’s stock worth $1,666,000 after purchasing an additional 9,749 shares during the period. Quest Partners LLC purchased a new position in Dell Technologies during the 2nd quarter valued at about $163,000. Finally, Varma Mutual Pension Insurance Co bought a new stake in shares of Dell Technologies during the second quarter valued at about $8,675,000. Hedge funds and other institutional investors own 38.10% of the company’s stock.

Insider Activity

In related news, CEO Michael S. Dell sold 2,837,829 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $133.75, for a total transaction of $379,559,628.75. Following the completion of the sale, the chief executive officer now directly owns 20,412,241 shares in the company, valued at approximately $2,730,137,233.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Michael S. Dell sold 1,205,052 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $131.96, for a total transaction of $159,018,661.92. Following the transaction, the chief executive officer now directly owns 26,725,566 shares of the company’s stock, valued at $3,526,705,689.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael S. Dell sold 2,837,829 shares of Dell Technologies stock in a transaction on Friday, June 14th. The shares were sold at an average price of $133.75, for a total transaction of $379,559,628.75. Following the completion of the sale, the chief executive officer now owns 20,412,241 shares in the company, valued at approximately $2,730,137,233.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,561,455 shares of company stock valued at $762,858,509. 46.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on DELL. UBS Group reduced their price objective on shares of Dell Technologies from $164.00 to $158.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Wells Fargo & Company decreased their price target on shares of Dell Technologies from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. JPMorgan Chase & Co. lifted their price objective on Dell Technologies from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Sanford C. Bernstein decreased their target price on Dell Technologies from $155.00 to $140.00 and set an “outperform” rating on the stock in a research note on Friday, August 30th. Finally, Raymond James cut their price objective on Dell Technologies from $166.00 to $160.00 and set an “outperform” rating for the company in a report on Friday, August 30th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Dell Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.80.

Dell Technologies Stock Up 3.8 %

Shares of NYSE:DELL opened at $105.91 on Tuesday. The company’s fifty day moving average is $116.50 and its 200 day moving average is $123.78. Dell Technologies Inc. has a 52 week low of $63.90 and a 52 week high of $179.70. The stock has a market cap of $75.12 billion, a PE ratio of 21.61, a PEG ratio of 1.08 and a beta of 0.90.

Dell Technologies (NYSE:DELL) last released its earnings results on Thursday, August 29th. The technology company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Dell Technologies had a negative return on equity of 182.71% and a net margin of 4.32%. The company had revenue of $25.03 billion during the quarter, compared to analyst estimates of $24.14 billion. During the same quarter in the previous year, the company posted $1.44 EPS. Dell Technologies’s revenue for the quarter was up 9.1% on a year-over-year basis. Sell-side analysts anticipate that Dell Technologies Inc. will post 6.9 EPS for the current year.

Dell Technologies 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).