Valley Wealth Managers Inc. Raises Position in Dell Technologies Inc. (NYSE:DELL)

Valley Wealth Managers Inc. grew its holdings in shares of Dell Technologies Inc. (NYSE:DELL) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 146,190 shares of the technology company’s stock after purchasing an additional 7,279 shares during the period. Valley Wealth Managers Inc.’s holdings in Dell Technologies were worth $17,329,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Clean Yield Group purchased a new position in Dell Technologies in the 3rd quarter worth $25,000. Accordant Advisory Group Inc purchased a new position in Dell Technologies in the 2nd quarter worth $28,000. New Covenant Trust Company N.A. purchased a new position in Dell Technologies in the 1st quarter worth $30,000. Nemes Rush Group LLC purchased a new position in Dell Technologies in the 2nd quarter worth $33,000. Finally, Crewe Advisors LLC purchased a new position in Dell Technologies in the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 38.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DELL. TD Cowen reduced their target price on Dell Technologies from $155.00 to $128.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Deutsche Bank Aktiengesellschaft started coverage on Dell Technologies in a research note on Friday, September 27th. They issued a “buy” rating and a $144.00 target price for the company. Barclays lifted their price objective on Dell Technologies from $97.00 to $106.00 and gave the company an “equal weight” rating in a research note on Friday, August 30th. Sanford C. Bernstein reduced their price objective on Dell Technologies from $155.00 to $140.00 and set an “outperform” rating for the company in a research note on Friday, August 30th. Finally, Susquehanna started coverage on Dell Technologies in a research note on Tuesday, September 10th. They set a “neutral” rating and a $120.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.63.

Dell Technologies Price Performance

DELL stock traded down $0.89 during trading on Friday, hitting $133.54. The stock had a trading volume of 717,079 shares, compared to its average volume of 10,062,670. Dell Technologies Inc. has a twelve month low of $67.51 and a twelve month high of $179.70. The stock has a market capitalization of $93.80 billion, a P/E ratio of 24.45, a PEG ratio of 1.42 and a beta of 0.89. The company’s 50-day moving average price is $122.43 and its two-hundred day moving average price is $126.37.

Dell Technologies (NYSE:DELL) last posted its quarterly earnings data 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 company had revenue of $25.03 billion for the quarter, compared to analysts’ expectations of $24.14 billion. During the same period in the previous year, the firm posted $1.44 EPS. Dell Technologies’s revenue was up 9.1% compared to the same quarter last year. As a group, sell-side analysts expect that Dell Technologies Inc. will post 6.92 EPS for the current fiscal year.

Dell Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 22nd were issued a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 1.33%. The ex-dividend date of this dividend was Tuesday, October 22nd. Dell Technologies’s payout ratio is 32.72%.

Insider Buying and Selling

In other news, insider William F. Scannell sold 42,595 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $117.29, for a total transaction of $4,995,967.55. Following the transaction, the insider now directly owns 73,263 shares in the company, valued at $8,593,017.27. The trade was a 36.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael S. Dell sold 10,000,000 shares of Dell Technologies stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $122.40, for a total transaction of $1,224,000,000.00. Following the sale, the chief executive officer now directly owns 16,912,241 shares in the company, valued at approximately $2,070,058,298.40. The trade was a 37.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,953,387 shares of company stock worth $2,113,353,236. Insiders own 46.70% of the company’s stock.

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).