BOCHK Asset Management Ltd Sells 25,558 Shares of Dell Technologies Inc. (NYSE:DELL)

BOCHK Asset Management Ltd lessened its position in shares of Dell Technologies Inc. (NYSE:DELL) by 79.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,502 shares of the technology company’s stock after selling 25,558 shares during the period. BOCHK Asset Management Ltd’s holdings in Dell Technologies were worth $771,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in DELL. Capital World Investors acquired a new stake in shares of Dell Technologies in the 1st quarter valued at approximately $835,946,000. International Assets Investment Management LLC grew its stake in shares of Dell Technologies by 19,376.1% during the third quarter. International Assets Investment Management LLC now owns 2,427,699 shares of the technology company’s stock worth $287,779,000 after buying an additional 2,415,234 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Dell Technologies by 2.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 2,276,779 shares of the technology company’s stock worth $319,771,000 after buying an additional 51,804 shares in the last quarter. Bahl & Gaynor Inc. boosted its holdings in shares of Dell Technologies by 4.1% during the 2nd quarter. Bahl & Gaynor Inc. now owns 1,408,807 shares of the technology company’s stock valued at $194,289,000 after acquiring an additional 55,763 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in Dell Technologies by 103.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,133,166 shares of the technology company’s stock worth $156,275,000 after acquiring an additional 575,166 shares during the last quarter. 38.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DELL. UBS Group cut their price target on Dell Technologies from $164.00 to $158.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Dell Technologies in a report on Friday, September 27th. They set a “buy” rating and a $144.00 target price on the stock. Mizuho assumed coverage on shares of Dell Technologies in a report on Tuesday, September 17th. They set an “outperform” rating and a $135.00 price target on the stock. Bank of America increased their price objective on Dell Technologies from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $140.00 price target on shares of Dell Technologies in a research report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $143.50.

Dell Technologies Stock Performance

Shares of Dell Technologies stock traded up $0.81 during trading on Thursday, hitting $120.30. The company’s stock had a trading volume of 1,561,509 shares, compared to its average volume of 10,295,988. Dell Technologies Inc. has a 52 week low of $63.90 and a 52 week high of $179.70. The company has a market capitalization of $85.33 billion, a PE ratio of 24.55, a P/E/G ratio of 1.29 and a beta of 0.90. The company has a fifty day simple moving average of $116.30 and a two-hundred day simple moving average of $125.34.

Dell Technologies (NYSE:DELL) last posted its quarterly 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. Dell Technologies had a negative return on equity of 178.09% and a net margin of 4.32%. The firm had revenue of $25.03 billion during the quarter, compared to analyst estimates of $24.14 billion. During the same quarter in the previous year, the firm earned $1.44 EPS. Dell Technologies’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, analysts predict that Dell Technologies Inc. will post 6.91 EPS for the current year.

Dell Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 22nd will be issued a $0.445 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.78 dividend on an annualized basis and a yield of 1.48%. Dell Technologies’s payout ratio is currently 36.33%.

Insider Activity at Dell Technologies

In other Dell Technologies news, insider William F. Scannell sold 42,595 shares of Dell Technologies stock in a transaction on 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 completion of the sale, the insider now owns 73,263 shares of the company’s stock, valued at approximately $8,593,017.27. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Michael S. Dell sold 221,460 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.07, for a total value of $22,604,422.20. Following the sale, the chief executive officer now owns 20,190,781 shares in the company, valued at approximately $2,060,873,016.67. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider William F. Scannell sold 42,595 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $117.29, for a total transaction of $4,995,967.55. Following the sale, the insider now owns 73,263 shares of the company’s stock, valued at approximately $8,593,017.27. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,953,387 shares of company stock valued at $2,113,353,236. 46.70% of the stock is owned by corporate insiders.

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).