Primecap Management Co. CA Sells 7,000 Shares of Dell Technologies Inc. (NYSE:DELL)

Primecap Management Co. CA lowered its stake in Dell Technologies Inc. (NYSE:DELL) by 1.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 420,870 shares of the technology company’s stock after selling 7,000 shares during the quarter. Primecap Management Co. CA’s holdings in Dell Technologies were worth $49,890,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Clean Yield Group acquired a new position in shares of Dell Technologies during the third quarter valued at about $25,000. Accordant Advisory Group Inc bought a new stake in Dell Technologies in the 2nd quarter valued at about $28,000. New Covenant Trust Company N.A. acquired a new position in Dell Technologies during the 1st quarter worth approximately $30,000. Nemes Rush Group LLC bought a new position in Dell Technologies in the second quarter worth approximately $33,000. Finally, Crewe Advisors LLC acquired a new stake in Dell Technologies in the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 38.10% of the company’s stock.

Insider Buying and Selling at Dell Technologies

In related news, Director Radakovich Lynn Vojvodich sold 725 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $129.50, for a total transaction of $93,887.50. Following the sale, the director now directly owns 23,680 shares in the company, valued at approximately $3,066,560. This represents a 2.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael S. Dell sold 1,839,959 shares of Dell Technologies stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $106.68, for a total transaction of $196,286,826.12. Following the completion of the transaction, the chief executive officer now owns 18,350,822 shares of the company’s stock, valued at $1,957,665,690.96. This represents a 9.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,954,112 shares of company stock valued at $2,113,449,139. Company insiders own 46.70% of the company’s stock.

Dell Technologies Trading Up 3.5 %

DELL stock opened at $138.69 on Friday. Dell Technologies Inc. has a 1-year low of $67.51 and a 1-year high of $179.70. The stock has a market cap of $97.41 billion, a P/E ratio of 25.49, a P/E/G ratio of 1.43 and a beta of 0.89. The stock’s fifty day simple moving average is $125.25 and its two-hundred day simple moving average is $126.76.

Dell Technologies (NYSE:DELL) last posted its quarterly earnings results on Thursday, August 29th. The technology company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. The company had revenue of $25.03 billion during the quarter, compared to analyst estimates of $24.14 billion. Dell Technologies had a net margin of 4.32% and a negative return on equity of 178.09%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.44 earnings per share. As a group, analysts forecast that Dell Technologies Inc. will post 6.91 earnings per share for the current fiscal year.

Dell Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 22nd were issued a $0.445 dividend. The ex-dividend date was Tuesday, October 22nd. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.28%. Dell Technologies’s dividend payout ratio (DPR) is presently 32.72%.

Analyst Upgrades and Downgrades

DELL has been the topic of a number of recent research reports. Evercore ISI reiterated an “outperform” rating and issued a $150.00 target price on shares of Dell Technologies in a report on Wednesday. TD Cowen reduced their price objective on shares of Dell Technologies from $155.00 to $128.00 and set a “hold” rating for the company in a report on Friday, August 30th. Mizuho began coverage on shares of Dell Technologies in a research report on Tuesday, September 17th. They set an “outperform” rating and a $135.00 target price for the company. Barclays raised their price target on shares of Dell Technologies from $97.00 to $106.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. Finally, Wells Fargo & Company increased their price objective on Dell Technologies from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $146.50.

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).