Van ECK Associates Corp Sells 4,433 Shares of Dell Technologies Inc. (NYSE:DELL)

Van ECK Associates Corp cut its holdings in shares of Dell Technologies Inc. (NYSE:DELL) by 51.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,102 shares of the technology company’s stock after selling 4,433 shares during the period. Van ECK Associates Corp’s holdings in Dell Technologies were worth $490,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Accordant Advisory Group Inc bought a new position in Dell Technologies in the second quarter valued at approximately $28,000. Clean Yield Group bought a new position in shares of Dell Technologies in the 3rd quarter worth $25,000. Nemes Rush Group LLC acquired a new stake in shares of Dell Technologies during the second quarter worth $33,000. Crewe Advisors LLC acquired a new position in Dell Technologies in the second quarter valued at about $34,000. Finally, New Covenant Trust Company N.A. bought a new position in Dell Technologies during the first quarter worth about $30,000. Institutional investors own 38.10% of the company’s stock.

Insider Activity

In related news, 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 value of $4,995,967.55. Following the sale, the insider now owns 73,263 shares of the company’s stock, valued at $8,593,017.27. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Dell Technologies news, insider William F. Scannell sold 42,595 shares of the stock in a transaction that occurred 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 completion of 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $196,286,826.12. Following the completion of the sale, the chief executive officer now directly owns 18,350,822 shares in the company, valued at approximately $1,957,665,690.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,953,387 shares of company stock valued at $2,113,353,236 over the last quarter. 46.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

DELL has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on shares of Dell Technologies from $155.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Barclays lifted their price target on shares of Dell Technologies from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Friday, August 30th. Fox Advisors raised Dell Technologies from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 30th. Citigroup boosted their target price on Dell Technologies from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Bank of America raised their price target on Dell Technologies from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Dell Technologies has an average rating of “Moderate Buy” and a consensus price target of $144.63.

Dell Technologies Stock Down 1.4 %

Shares of Dell Technologies stock opened at $136.51 on Wednesday. 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 $95.88 billion, a price-to-earnings ratio of 25.34, a price-to-earnings-growth ratio of 1.41 and a beta of 0.89. The company has a 50-day simple moving average of $120.86 and a two-hundred day simple moving average of $126.17.

Dell Technologies (NYSE:DELL) last issued its earnings results on Thursday, August 29th. The technology company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $24.14 billion. During the same quarter last year, the business posted $1.44 EPS. The company’s revenue was up 9.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Dell Technologies Inc. will post 6.91 earnings per share for the current fiscal year.

Dell Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 22nd were issued a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend was Tuesday, October 22nd. Dell Technologies’s dividend payout ratio (DPR) 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).