Mengis Capital Management Inc. Makes New Investment in Dell Technologies Inc. (NYSE:DELL)

Mengis Capital Management Inc. purchased a new position in Dell Technologies Inc. (NYSE:DELL) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,885 shares of the technology company’s stock, valued at approximately $2,120,000.

Other large investors have also modified their holdings of the company. Oppenheimer & Co. Inc. increased its stake in shares of Dell Technologies by 50.5% during the first quarter. Oppenheimer & Co. Inc. now owns 5,306 shares of the technology company’s stock worth $605,000 after buying an additional 1,781 shares during the period. Oppenheimer Asset Management Inc. increased its position in shares of Dell Technologies by 31.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 6,485 shares of the technology company’s stock valued at $740,000 after purchasing an additional 1,539 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of Dell Technologies in the 1st quarter valued at $239,000. US Bancorp DE grew its stake in shares of Dell Technologies by 11.6% during the first quarter. US Bancorp DE now owns 23,855 shares of the technology company’s stock worth $2,722,000 after purchasing an additional 2,476 shares in the last quarter. Finally, Avantax Advisory Services Inc. increased its holdings in Dell Technologies by 30.4% in the first quarter. Avantax Advisory Services Inc. now owns 6,513 shares of the technology company’s stock valued at $743,000 after buying an additional 1,520 shares during the last quarter. Hedge funds and other institutional investors own 38.10% of the company’s stock.

Insider Transactions at Dell Technologies

In other news, CEO Michael S. Dell sold 221,460 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.07, for a total value of $22,604,422.20. Following the completion of the sale, the chief executive officer now directly owns 20,190,781 shares of the company’s stock, valued at $2,060,873,016.67. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Dell Technologies news, CEO Michael S. Dell sold 221,460 shares of the company’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 directly owns 20,190,781 shares in the company, valued at approximately $2,060,873,016.67. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider William F. Scannell sold 42,595 shares of Dell Technologies 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 sale, the insider now owns 73,263 shares of the company’s stock, valued at approximately $8,593,017.27. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,953,387 shares of company stock worth $2,113,353,236 over the last ninety days. 46.70% of the stock is currently owned by company insiders.

Dell Technologies Stock Down 1.4 %

Shares of DELL stock opened at $136.51 on Wednesday. The stock’s 50-day moving average price is $121.38 and its 200 day moving average price is $126.25. The stock has a market capitalization of $95.88 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 1.46 and a beta of 0.89. Dell Technologies Inc. has a 52-week low of $67.51 and a 52-week high of $179.70.

Dell Technologies (NYSE:DELL) last released its earnings results on Thursday, August 29th. The technology company reported $1.89 earnings per share (EPS) 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 business had revenue of $25.03 billion for the quarter, compared to analyst estimates of $24.14 billion. During the same quarter in the previous year, the company posted $1.44 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts expect that Dell Technologies Inc. will post 6.91 earnings per share for the current fiscal year.

Dell Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 22nd were issued a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Tuesday, October 22nd. Dell Technologies’s payout ratio is 32.72%.

Analysts Set New Price Targets

A number of brokerages have issued reports on DELL. Fox Advisors raised Dell Technologies from an “equal weight” rating to an “overweight” rating in a report on Friday, August 30th. Susquehanna began coverage on Dell Technologies in a report on Tuesday, September 10th. They issued a “neutral” rating and a $120.00 price target for the company. TD Cowen cut their price objective on shares of Dell Technologies from $155.00 to $128.00 and set a “hold” rating on the stock in a report on Friday, August 30th. Raymond James lowered their target price on shares of Dell Technologies from $166.00 to $160.00 and set an “outperform” rating for the company in a report on Friday, August 30th. Finally, Citigroup lifted their price target on shares of Dell Technologies from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $144.63.

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).