Carnegie Investment Counsel Makes New $481,000 Investment in Dell Technologies Inc. (NYSE:DELL)

Carnegie Investment Counsel purchased a new stake in Dell Technologies Inc. (NYSE:DELL) during the second quarter, according to its most recent filing with the SEC. The firm purchased 3,487 shares of the technology company’s stock, valued at approximately $481,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Jones Financial Companies Lllp purchased a new position in Dell Technologies in the fourth quarter worth $25,000. Massmutual Trust Co. FSB ADV grew its stake in Dell Technologies by 58.2% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 223 shares of the technology company’s stock worth $25,000 after buying an additional 82 shares during the last quarter. Accordant Advisory Group Inc acquired a new stake in Dell Technologies in the second quarter worth about $28,000. New Covenant Trust Company N.A. acquired a new position in shares of Dell Technologies during the first quarter valued at about $30,000. Finally, Central Bank & Trust Co. purchased a new position in shares of Dell Technologies in the 1st quarter valued at approximately $34,000. 38.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Dell Technologies news, CEO Michael S. Dell sold 1,205,052 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $131.96, for a total value of $159,018,661.92. Following the transaction, the chief executive officer now directly owns 26,725,566 shares in the company, valued at $3,526,705,689.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Michael S. Dell sold 1,205,052 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $131.96, for a total value of $159,018,661.92. Following the completion of the sale, the chief executive officer now directly owns 26,725,566 shares of the company’s stock, valued at $3,526,705,689.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lake Group L.L.C. Silver sold 25,381 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $134.42, for a total transaction of $3,411,714.02. Following the completion of the sale, the director now owns 787,669 shares of the company’s stock, valued at approximately $105,878,466.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,058,131 shares of company stock worth $963,293,619. Corporate insiders own 46.70% of the company’s stock.

Dell Technologies Stock Up 0.0 %

NYSE DELL traded up $0.01 on Wednesday, reaching $110.72. The stock had a trading volume of 3,725,465 shares, compared to its average volume of 10,223,769. The firm has a market capitalization of $78.53 billion, a price-to-earnings ratio of 22.63, a P/E/G ratio of 1.34 and a beta of 0.92. The stock has a fifty day moving average price of $125.05 and a two-hundred day moving average price of $121.23. Dell Technologies Inc. has a 12-month low of $53.62 and a 12-month high of $179.70.

Dell Technologies (NYSE:DELL) last posted its quarterly earnings results on Thursday, May 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.04. Dell Technologies had a negative return on equity of 173.72% and a net margin of 4.00%. The company had revenue of $22.24 billion for the quarter, compared to analyst estimates of $21.70 billion. Sell-side analysts forecast that Dell Technologies Inc. will post 6.85 earnings per share for the current fiscal year.

Dell Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Tuesday, July 23rd were issued a $0.445 dividend. The ex-dividend date of this dividend was Tuesday, July 23rd. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.61%. Dell Technologies’s payout ratio is 36.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Evercore ISI dropped their price objective on shares of Dell Technologies from $165.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Wells Fargo & Company reduced their price target on shares of Dell Technologies from $175.00 to $150.00 and set an “overweight” rating for the company in a research report on Wednesday, August 14th. Barclays upgraded shares of Dell Technologies from an “underweight” rating to an “equal weight” rating and set a $97.00 price objective on the stock in a research note on Tuesday, August 13th. Bank of America lifted their price target on Dell Technologies from $130.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Finally, Citigroup decreased their price objective on shares of Dell Technologies from $170.00 to $155.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Dell Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.25.

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).