PNC Financial Services Group Inc. Buys 11,189 Shares of Dell Technologies Inc. (NYSE:DELL)

PNC Financial Services Group Inc. grew its stake in Dell Technologies Inc. (NYSE:DELL) by 29.5% during the third quarter, Holdings Channel reports. The firm owned 49,071 shares of the technology company’s stock after purchasing an additional 11,189 shares during the period. PNC Financial Services Group Inc.’s holdings in Dell Technologies were worth $5,817,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Dell Technologies during the 3rd quarter worth $1,225,000. Lingohr Asset Management GmbH boosted its holdings in Dell Technologies by 2.7% during the third quarter. Lingohr Asset Management GmbH now owns 5,708 shares of the technology company’s stock worth $674,000 after purchasing an additional 151 shares during the last quarter. Silver Lake Group L.L.C. grew its position in Dell Technologies by 19.7% in the 3rd quarter. Silver Lake Group L.L.C. now owns 431,524 shares of the technology company’s stock worth $50,972,000 after purchasing an additional 70,954 shares in the last quarter. Princeton Capital Management LLC purchased a new stake in Dell Technologies in the 3rd quarter valued at about $2,145,000. Finally, Prospera Financial Services Inc lifted its position in shares of Dell Technologies by 394.7% during the 3rd quarter. Prospera Financial Services Inc now owns 16,745 shares of the technology company’s stock worth $1,986,000 after buying an additional 13,360 shares in the last quarter. Hedge funds and other institutional investors own 38.10% of the company’s stock.

Insider Activity

In related news, CEO Michael S. Dell sold 1,839,959 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $106.68, for a total value of $196,286,826.12. Following the completion of the transaction, the chief executive officer now directly owns 18,350,822 shares in the company, valued at approximately $1,957,665,690.96. The trade was a 9.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William F. Scannell sold 42,595 shares of Dell Technologies stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $117.29, for a total value of $4,995,967.55. Following the sale, the insider now directly owns 73,263 shares of the company’s stock, valued at approximately $8,593,017.27. This trade represents a 36.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,954,112 shares of company stock worth $2,113,449,139. 46.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Fox Advisors raised Dell Technologies from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 30th. TD Cowen lowered their target price on Dell Technologies from $155.00 to $128.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. Citigroup increased their price target on shares of Dell Technologies from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Morgan Stanley lifted their price objective on shares of Dell Technologies from $136.00 to $154.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, Raymond James decreased their price target on shares of Dell Technologies from $166.00 to $160.00 and set an “outperform” rating for the company in a research note on Friday, August 30th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Dell Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $146.50.

Dell Technologies Trading Up 3.8 %

Shares of Dell Technologies stock opened at $144.21 on Friday. The company’s 50-day moving average price is $125.84 and its 200-day moving average price is $126.86. Dell Technologies Inc. has a 12-month low of $67.51 and a 12-month high of $179.70. The company has a market cap of $101.29 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 1.46 and a beta of 0.89.

Dell Technologies (NYSE:DELL) last posted its earnings results on Thursday, August 29th. The technology company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The business had revenue of $25.03 billion for the quarter, compared to analysts’ expectations of $24.14 billion. Dell Technologies had a net margin of 4.32% and a negative return on equity of 178.09%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.44 EPS. On average, sell-side analysts predict that Dell Technologies Inc. will post 6.91 earnings per share for the current year.

Dell Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 22nd were paid a $0.445 dividend. The ex-dividend date was Tuesday, October 22nd. This represents a $1.78 dividend on an annualized basis and a yield of 1.23%. Dell Technologies’s dividend payout ratio is currently 32.72%.

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).