Wakefield Asset Management LLLP Trims Stake in Dell Technologies Inc. (NYSE:DELL)

Wakefield Asset Management LLLP cut its stake in Dell Technologies Inc. (NYSE:DELL) by 44.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,598 shares of the technology company’s stock after selling 2,047 shares during the period. Wakefield Asset Management LLLP’s holdings in Dell Technologies were worth $358,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DELL. Accordant Advisory Group Inc purchased a new stake in Dell Technologies in the second quarter worth $28,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Dell Technologies by 58.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 223 shares of the technology company’s stock worth $25,000 after acquiring an additional 82 shares in the last quarter. Crewe Advisors LLC purchased a new position in Dell Technologies during the 2nd quarter valued at about $34,000. New Covenant Trust Company N.A. bought a new stake in Dell Technologies during the first quarter worth about $30,000. Finally, Central Bank & Trust Co. purchased a new stake in Dell Technologies in the first quarter worth about $34,000. Hedge funds and other institutional investors own 38.10% of the company’s stock.

Insider Activity

In related news, CMO Jane Tunnell sold 3,624 shares of Dell Technologies stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $145.98, for a total transaction of $529,031.52. Following the transaction, the chief marketing officer now directly owns 89,294 shares in the company, valued at $13,035,138.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Dell Technologies news, CMO Jane Tunnell sold 3,624 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $145.98, for a total transaction of $529,031.52. Following the sale, the chief marketing officer now owns 89,294 shares in the company, valued at approximately $13,035,138.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director V (Gp) L.L.C. Slta sold 389,189 shares of Dell Technologies stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $158.79, for a total transaction of $61,799,321.31. Following the transaction, the director now directly owns 731,612 shares in the company, valued at approximately $116,172,669.48. The disclosure for this sale can be found here. Insiders sold a total of 6,902,278 shares of company stock valued at $942,086,320 in the last 90 days. Company insiders own 46.70% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on DELL. Evercore ISI reissued an “outperform” rating and issued a $140.00 price target on shares of Dell Technologies in a research report on Wednesday, August 28th. Fox Advisors raised Dell Technologies from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 30th. Sanford C. Bernstein lowered their price target on Dell Technologies from $155.00 to $140.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. Loop Capital increased their price objective on shares of Dell Technologies from $125.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Finally, Citigroup lifted their target price on shares of Dell Technologies from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $136.80.

Dell Technologies Price Performance

DELL stock opened at $102.00 on Friday. Dell Technologies Inc. has a 1 year low of $63.90 and a 1 year high of $179.70. The company has a market cap of $72.35 billion, a P/E ratio of 20.82, a price-to-earnings-growth ratio of 1.43 and a beta of 0.90. The stock’s fifty day moving average price is $117.23 and its 200-day moving average price is $123.36.

Dell Technologies (NYSE:DELL) last released its quarterly earnings results on Thursday, August 29th. The technology company reported $1.89 earnings per share (EPS) 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 business had revenue of $25.03 billion during the quarter, compared to the consensus estimate of $24.14 billion. During the same period in the previous year, the company posted $1.44 EPS. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, analysts expect that Dell Technologies Inc. will post 6.86 earnings per share for the current year.

Dell Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Tuesday, July 23rd were paid a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Tuesday, July 23rd. Dell Technologies’s dividend payout ratio is presently 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).