Clearline Capital LP Acquires New Shares in Dell Technologies Inc. (NYSE:DELL)

Clearline Capital LP bought a new position in shares of Dell Technologies Inc. (NYSE:DELL) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 132,666 shares of the technology company’s stock, valued at approximately $15,726,000. Dell Technologies comprises 0.7% of Clearline Capital LP’s portfolio, making the stock its 24th largest holding.

Several other institutional investors have also recently modified their holdings of the stock. Clean Yield Group purchased a new stake in shares of Dell Technologies in the third quarter valued at $25,000. Accordant Advisory Group Inc purchased a new position in Dell Technologies in the 2nd quarter valued at about $28,000. True Wealth Design LLC lifted its holdings in Dell Technologies by 2,530.0% in the 3rd quarter. True Wealth Design LLC now owns 263 shares of the technology company’s stock valued at $31,000 after purchasing an additional 253 shares in the last quarter. Nemes Rush Group LLC purchased a new stake in shares of Dell Technologies during the second quarter worth about $33,000. Finally, Crewe Advisors LLC acquired a new position in shares of Dell Technologies in the second quarter valued at approximately $34,000. 38.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Citigroup lowered their target price on shares of Dell Technologies from $160.00 to $156.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. JPMorgan Chase & Co. upped their target price on Dell Technologies from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Raymond James lowered their price target on Dell Technologies from $166.00 to $160.00 and set an “outperform” rating for the company in a report on Friday, August 30th. Wells Fargo & Company increased their price objective on shares of Dell Technologies from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Finally, Mizuho dropped their price target on shares of Dell Technologies from $155.00 to $150.00 and set an “outperform” rating for the company in a research report on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Dell Technologies has an average rating of “Moderate Buy” and an average target price of $148.06.

Dell Technologies Stock Up 2.6 %

Shares of DELL stock opened at $127.59 on Monday. Dell Technologies Inc. has a 52 week low of $67.51 and a 52 week high of $179.70. The company has a market cap of $89.62 billion, a P/E ratio of 22.54, a PEG ratio of 1.34 and a beta of 0.89. The business has a 50 day moving average of $127.41 and a two-hundred day moving average of $126.70.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings data on Tuesday, November 26th. The technology company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.32. Dell Technologies had a net margin of 4.36% and a negative return on equity of 184.20%. The firm had revenue of $24.37 billion for the quarter, compared to the consensus estimate of $24.67 billion. During the same period last year, the firm posted $1.62 EPS. Dell Technologies’s quarterly revenue was up 9.5% compared to the same quarter last year. Analysts expect that Dell Technologies Inc. will post 6.93 EPS for the current fiscal year.

Dell Technologies Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date was Tuesday, October 22nd. Dell Technologies’s dividend payout ratio (DPR) is 31.45%.

Insider Buying and Selling at Dell Technologies

In related news, CEO Michael S. Dell sold 221,460 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $2,060,873,016.67. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Yvonne Mcgill sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $143.24, for a total value of $1,145,920.00. Following the completion of the sale, the chief financial officer now owns 236,419 shares of the company’s stock, valued at $33,864,657.56. This trade represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,962,112 shares of company stock valued at $2,114,595,059 in the last quarter. Corporate 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).