Miracle Mile Advisors LLC Trims Stake in Dell Technologies Inc. (NYSE:DELL)

Miracle Mile Advisors LLC trimmed its stake in Dell Technologies Inc. (NYSE:DELL) by 3.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,597 shares of the technology company’s stock after selling 585 shares during the period. Miracle Mile Advisors LLC’s holdings in Dell Technologies were worth $1,666,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of DELL. Little House Capital LLC purchased a new position in shares of Dell Technologies during the first quarter valued at about $668,000. Udine Wealth Management Inc. bought a new stake in Dell Technologies in the first quarter worth about $2,633,000. Mirador Capital Partners LP lifted its stake in Dell Technologies by 10.8% in the first quarter. Mirador Capital Partners LP now owns 14,916 shares of the technology company’s stock worth $1,702,000 after purchasing an additional 1,453 shares during the last quarter. Citizens Business Bank lifted its stake in Dell Technologies by 4.1% in the first quarter. Citizens Business Bank now owns 5,275 shares of the technology company’s stock worth $602,000 after purchasing an additional 207 shares during the last quarter. Finally, Seneca House Advisors bought a new stake in shares of Dell Technologies during the first quarter valued at approximately $262,000. 38.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on DELL shares. Barclays decreased their price target on shares of Dell Technologies from $98.00 to $97.00 and set an “underweight” rating for the company in a research note on Friday, May 31st. Evercore ISI reaffirmed an “outperform” rating and set a $165.00 price target on shares of Dell Technologies in a research note on Monday. Wells Fargo & Company lifted their price target on shares of Dell Technologies from $170.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, May 31st. The Goldman Sachs Group lifted their price target on shares of Dell Technologies from $87.00 to $129.00 and gave the company a “buy” rating in a research note on Monday, March 4th. Finally, UBS Group lifted their price objective on shares of Dell Technologies from $113.00 to $141.00 and gave the company a “buy” rating in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Dell Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.81.

Insider Transactions at Dell Technologies

In other news, 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 directly owns 20,412,241 shares in the company, valued at $2,730,137,233.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Michael S. Dell sold 2,837,829 shares of the business’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 transaction, the chief executive officer now directly owns 20,412,241 shares in the company, valued at $2,730,137,233.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William F. Scannell sold 106,483 shares of the business’s stock in a transaction on Wednesday, April 3rd. The shares were sold at an average price of $129.15, for a total transaction of $13,752,279.45. Following the transaction, the insider now owns 356,077 shares of the company’s stock, valued at $45,987,344.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,246,728 shares of company stock worth $842,917,457. Company insiders own 46.70% of the company’s stock.

Dell Technologies Trading Up 3.5 %

NYSE DELL opened at $142.76 on Tuesday. The firm’s fifty day simple moving average is $138.43 and its two-hundred day simple moving average is $110.55. Dell Technologies Inc. has a 12-month low of $52.05 and a 12-month high of $179.70. The firm has a market capitalization of $101.26 billion, a P/E ratio of 29.13, a P/E/G ratio of 1.71 and a beta of 0.92.

Dell Technologies (NYSE:DELL) last posted its quarterly earnings data on Thursday, May 30th. The technology company reported $1.04 EPS for the quarter, topping the consensus estimate of $1.00 by $0.04. Dell Technologies had a net margin of 4.00% and a negative return on equity of 173.72%. The business had revenue of $22.24 billion during the quarter, compared to the consensus estimate of $21.70 billion. As a group, sell-side analysts predict that Dell Technologies Inc. will post 6.85 earnings per share for the current fiscal year.

Dell Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Tuesday, July 23rd will be paid a dividend of $0.445 per share. The ex-dividend date of this dividend is Tuesday, July 23rd. This represents a $1.78 annualized dividend and a dividend yield of 1.25%. Dell Technologies’s payout ratio is currently 36.33%.

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).