Citigroup Inc. Raises Stock Position in Dell Technologies Inc. (NYSE:DELL)

Citigroup Inc. grew its holdings in shares of Dell Technologies Inc. (NYSE:DELL) by 22.6% during the third quarter, Holdings Channel reports. The firm owned 349,623 shares of the technology company’s stock after purchasing an additional 64,564 shares during the quarter. Citigroup Inc.’s holdings in Dell Technologies were worth $41,444,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. GPS Wealth Strategies Group LLC increased its stake in Dell Technologies by 1.4% during the second quarter. GPS Wealth Strategies Group LLC now owns 5,959 shares of the technology company’s stock worth $822,000 after purchasing an additional 80 shares during the period. Intrepid Financial Planning Group LLC increased its stake in Dell Technologies by 0.7% during the third quarter. Intrepid Financial Planning Group LLC now owns 12,002 shares of the technology company’s stock worth $1,423,000 after purchasing an additional 80 shares during the period. Smithfield Trust Co increased its stake in Dell Technologies by 8.0% during the third quarter. Smithfield Trust Co now owns 1,139 shares of the technology company’s stock worth $134,000 after purchasing an additional 84 shares during the period. Graypoint LLC increased its stake in shares of Dell Technologies by 4.3% during the third quarter. Graypoint LLC now owns 2,086 shares of the technology company’s stock worth $247,000 after buying an additional 86 shares during the period. Finally, Affinity Wealth Management LLC increased its stake in shares of Dell Technologies by 2.5% during the third quarter. Affinity Wealth Management LLC now owns 3,560 shares of the technology company’s stock worth $422,000 after buying an additional 87 shares during the period. 38.10% of the stock is currently owned by hedge funds and other institutional investors.

Dell Technologies Stock Up 3.8 %

Shares of NYSE:DELL opened at $144.21 on Monday. 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 Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $179.70. The firm’s 50-day simple moving average is $125.84 and its 200-day simple moving average is $126.82.

Dell Technologies (NYSE:DELL) last posted its quarterly earnings results on Thursday, August 29th. The technology company reported $1.89 EPS for the quarter, beating 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 business had revenue of $25.03 billion during the quarter, compared to analysts’ expectations of $24.14 billion. During the same period last year, the firm earned $1.44 EPS. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, research analysts forecast that Dell Technologies Inc. will post 6.91 EPS for the current year.

Dell Technologies Announces Dividend

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

Insider Activity

In other Dell Technologies news, insider William F. Scannell sold 42,595 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 73,263 shares in the company, valued at approximately $8,593,017.27. This trade represents a 36.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael S. Dell sold 221,460 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.07, for a total transaction of $22,604,422.20. Following the transaction, the chief executive officer now owns 20,190,781 shares of the company’s stock, valued at $2,060,873,016.67. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,954,112 shares of company stock worth $2,113,449,139 in the last 90 days. 46.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Sanford C. Bernstein reduced their price objective on shares of Dell Technologies from $155.00 to $140.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. Bank of America raised their price objective on Dell Technologies from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Morgan Stanley upped their target price on Dell Technologies from $136.00 to $154.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. 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 report on Friday, August 30th. Finally, Fox Advisors raised Dell Technologies from an “equal weight” rating to an “overweight” rating in a report on Friday, August 30th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Dell Technologies has an average rating of “Moderate Buy” and an average price target of $146.50.

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).