Dell Technologies Inc. (NYSE:DELL) Shares Sold by Shorepath Capital Management LLC

Shorepath Capital Management LLC lowered its stake in shares of Dell Technologies Inc. (NYSE:DELL) by 14.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,313 shares of the technology company’s stock after selling 11,934 shares during the quarter. Dell Technologies comprises approximately 6.2% of Shorepath Capital Management LLC’s investment portfolio, making the stock its 4th largest holding. Shorepath Capital Management LLC’s holdings in Dell Technologies were worth $7,909,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ballentine Partners LLC grew its stake in Dell Technologies by 15.1% during the 1st quarter. Ballentine Partners LLC now owns 9,186 shares of the technology company’s stock valued at $1,048,000 after purchasing an additional 1,203 shares during the last quarter. &PARTNERS purchased a new stake in Dell Technologies in the first quarter valued at approximately $382,000. Central Bank & Trust Co. acquired a new position in Dell Technologies in the 1st quarter worth approximately $34,000. Sanders Morris Harris LLC purchased a new position in Dell Technologies during the 1st quarter worth approximately $251,000. Finally, Meyer Handelman Co. acquired a new stake in Dell Technologies during the 1st quarter valued at approximately $1,869,000. 38.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DELL has been the topic of several analyst reports. Wells Fargo & Company raised their target price on Dell Technologies from $170.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, May 31st. Citigroup raised their price objective on shares of Dell Technologies from $125.00 to $170.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Morgan Stanley reiterated an “overweight” rating and issued a $155.00 target price on shares of Dell Technologies in a research note on Monday, June 17th. Loop Capital raised their price target 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, Barclays decreased their price objective on shares of Dell Technologies from $98.00 to $97.00 and set an “underweight” rating for the company in a research report on Friday, May 31st. 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $135.81.

Insiders Place Their Bets

In other Dell Technologies news, CEO Michael S. Dell sold 139,419 shares of Dell Technologies stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $136.18, for a total transaction of $18,986,079.42. Following the transaction, the chief executive officer now owns 30,272,822 shares of the company’s stock, valued at $4,122,552,899.96. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Dell Technologies news, Director David W. Dorman sold 75,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $135.26, for a total transaction of $10,144,500.00. Following the completion of the sale, the director now directly owns 114,317 shares of the company’s stock, valued at approximately $15,462,517.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael S. Dell sold 139,419 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $136.18, for a total value of $18,986,079.42. Following the sale, the chief executive officer now owns 30,272,822 shares of the company’s stock, valued at approximately $4,122,552,899.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,246,728 shares of company stock valued at $842,917,457. 46.70% of the stock is currently owned by insiders.

Dell Technologies Price Performance

Shares of NYSE:DELL traded down $4.53 during midday trading on Wednesday, reaching $135.82. 5,926,641 shares of the company’s stock were exchanged, compared to its average volume of 9,910,883. The firm’s 50 day simple moving average is $137.18 and its two-hundred day simple moving average is $109.10. Dell Technologies Inc. has a fifty-two week low of $50.85 and a fifty-two week high of $179.70. The stock has a market cap of $96.34 billion, a price-to-earnings ratio of 28.21, a P/E/G ratio of 1.74 and a beta of 0.85.

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

Dell Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Tuesday, July 23rd will be given a $0.445 dividend. The ex-dividend date is Tuesday, July 23rd. This represents a $1.78 dividend on an annualized basis and a yield of 1.31%. Dell Technologies’s dividend payout ratio (DPR) is presently 36.33%.

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).