Allspring Global Investments Holdings LLC Has $4.62 Million Stake in Dell Technologies Inc. (NYSE:DELL)

Allspring Global Investments Holdings LLC reduced its stake in shares of Dell Technologies Inc. (NYSE:DELL) by 41.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,457 shares of the technology company’s stock after selling 28,645 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Dell Technologies were worth $4,617,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of DELL. Jones Financial Companies Lllp bought a new stake in shares of Dell Technologies during the fourth quarter valued at approximately $25,000. Massmutual Trust Co. FSB ADV boosted its stake in Dell Technologies by 58.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 223 shares of the technology company’s stock valued at $25,000 after acquiring an additional 82 shares during the last quarter. Anchor Investment Management LLC bought a new position in Dell Technologies in the fourth quarter valued at approximately $26,000. Pinnacle Bancorp Inc. boosted its stake in Dell Technologies by 96.9% in the fourth quarter. Pinnacle Bancorp Inc. now owns 382 shares of the technology company’s stock valued at $29,000 after acquiring an additional 188 shares during the last quarter. Finally, Central Bank & Trust Co. bought a new position in Dell Technologies in the first quarter valued at approximately $34,000. 38.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Dell Technologies from $125.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, May 20th. Bank of America increased their target price on shares of Dell Technologies from $130.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Sanford C. Bernstein increased their target price on shares of Dell Technologies from $120.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, May 20th. Citigroup increased their target price on shares of Dell Technologies from $125.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Finally, Evercore ISI restated an “outperform” rating and set a $165.00 price objective on shares of Dell Technologies in a report on Monday. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.81.

Dell Technologies Trading Down 0.3 %

Shares of DELL traded down $0.45 during midday trading on Tuesday, reaching $142.37. The stock had a trading volume of 1,152,128 shares, compared to its average volume of 9,989,598. The firm has a 50 day simple moving average of $138.43 and a 200-day simple moving average of $110.55. Dell Technologies Inc. has a one year low of $52.05 and a one year high of $179.70. The firm has a market cap of $100.98 billion, a PE ratio of 29.13, a P/E/G ratio of 1.71 and a beta of 0.92.

Dell Technologies (NYSE:DELL) last announced its quarterly earnings data on Thursday, May 30th. The technology company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $22.24 billion during the quarter, compared to the consensus estimate of $21.70 billion. As a group, research analysts forecast that Dell Technologies Inc. will post 6.85 EPS for the current fiscal year.

Dell Technologies Dividend Announcement

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

Insider Buying and Selling

In related news, insider William F. Scannell sold 106,483 shares of Dell Technologies stock in a transaction dated 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 completion of the sale, the insider now owns 356,077 shares of the company’s stock, valued at approximately $45,987,344.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Dell Technologies news, insider William F. Scannell sold 106,483 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $129.15, for a total value of $13,752,279.45. Following the completion of the sale, the insider now owns 356,077 shares of the company’s stock, valued at approximately $45,987,344.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 42,545 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $134.37, for a total transaction of $5,716,771.65. Following the completion of the sale, the director now directly owns 535,816 shares of the company’s stock, valued at approximately $71,997,595.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,246,728 shares of company stock valued at $842,917,457. Company insiders own 46.70% of the company’s stock.

Dell Technologies Company 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).