Asahi Life Asset Management CO. LTD. reduced its stake in Dell Technologies Inc. (NYSE:DELL) by 57.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,000 shares of the technology company’s stock after selling 2,650 shares during the period. Asahi Life Asset Management CO. LTD.’s holdings in Dell Technologies were worth $199,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. JTC Employer Solutions Trusteee Ltd bought a new position in shares of Dell Technologies during the second quarter valued at about $29,000. Van ECK Associates Corp bought a new stake in Dell Technologies during the 1st quarter valued at approximately $27,000. Abundance Wealth Counselors bought a new stake in Dell Technologies during the 1st quarter valued at approximately $44,000. Bessemer Group Inc. boosted its position in Dell Technologies by 172.3% during the 1st quarter. Bessemer Group Inc. now owns 580 shares of the technology company’s stock valued at $51,000 after acquiring an additional 367 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators bought a new stake in Dell Technologies in the second quarter worth $59,000. Institutional investors own 30.04% of the company’s stock.
Shares of Dell Technologies stock opened at $97.44 on Wednesday. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 3.74. Dell Technologies Inc. has a 12-month low of $58.88 and a 12-month high of $104.62. The firm has a market capitalization of $74.55 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 0.93 and a beta of 0.99. The firm’s 50 day simple moving average is $97.35 and its two-hundred day simple moving average is $96.36.
DELL has been the subject of a number of research reports. Morgan Stanley lowered shares of Dell Technologies to an “overweight” rating and boosted their target price for the company from $130.00 to $133.00 in a research note on Friday, August 27th. Zacks Investment Research cut shares of Dell Technologies from a “buy” rating to a “hold” rating in a research note on Friday, August 27th. Societe Generale lowered their target price on shares of Dell Technologies from $112.00 to $104.00 and set a “hold” rating on the stock in a research note on Tuesday, August 31st. Cowen lifted their price target on shares of Dell Technologies from $98.00 to $101.00 and gave the company an “outperform” rating in a report on Friday, August 27th. Finally, Evercore ISI began coverage on shares of Dell Technologies in a report on Friday, August 20th. They issued a “buy” rating and a $110.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $106.53.
In related news, CEO Michael S. Dell sold 966,785 shares of the stock in a transaction on Monday, June 28th. The shares were sold at an average price of $99.81, for a total transaction of $96,494,810.85. Following the sale, the chief executive officer now directly owns 6,022,159 shares of the company’s stock, valued at $601,071,689.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael S. Dell sold 1,316,156 shares of the stock in a transaction on Friday, June 25th. The stock was sold at an average price of $99.56, for a total transaction of $131,036,491.36. Following the sale, the chief executive officer now directly owns 6,022,159 shares in the company, valued at $599,566,150.04. The disclosure for this sale can be found here. Insiders sold 3,796,107 shares of company stock worth $377,096,557 in the last quarter. Company insiders own 47.00% of the company’s stock.
Dell Technologies Company Profile
Dell Technologies, Inc is a holding company, which engages in the provision of information technology hardware, software, and service solutions through its subsidiaries. It operates through the following segments: Infrastructure Solutions Group (ISG), Client Solutions Group (CSG), and VMware. The ISG segment includes servers, networking, and storage, as well as services and third-party software and peripherals that are closely tied to the sale of ISG hardware.
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