CIBC Asset Management Inc Raises Stock Position in Dell Technologies Inc. (NYSE:DELL)

CIBC Asset Management Inc raised its stake in shares of Dell Technologies Inc. (NYSE:DELL) by 371.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 42,398 shares of the technology company’s stock after purchasing an additional 33,412 shares during the quarter. CIBC Asset Management Inc’s holdings in Dell Technologies were worth $5,026,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Capital World Investors purchased a new stake in shares of Dell Technologies in the 1st quarter worth about $835,946,000. International Assets Investment Management LLC grew its position in shares of Dell Technologies by 19,376.1% in the 3rd quarter. International Assets Investment Management LLC now owns 2,427,699 shares of the technology company’s stock worth $287,779,000 after buying an additional 2,415,234 shares during the period. DekaBank Deutsche Girozentrale grew its position in shares of Dell Technologies by 2.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 2,276,779 shares of the technology company’s stock worth $319,771,000 after buying an additional 51,804 shares during the period. Bahl & Gaynor Inc. grew its position in shares of Dell Technologies by 4.1% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,408,807 shares of the technology company’s stock worth $194,289,000 after buying an additional 55,763 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Dell Technologies by 103.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,133,166 shares of the technology company’s stock worth $156,275,000 after buying an additional 575,166 shares during the period. 38.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Dell Technologies news, Director Radakovich Lynn Vojvodich sold 725 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $129.50, for a total transaction of $93,887.50. Following the completion of the sale, the director now directly owns 23,680 shares of the company’s stock, valued at $3,066,560. This trade represents a 2.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael S. Dell sold 221,460 shares of the 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 sale, the chief executive officer now directly owns 20,190,781 shares of the company’s stock, valued at approximately $2,060,873,016.67. This trade represents a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,953,387 shares of company stock valued at $2,113,353,236. 46.70% of the stock is owned by corporate insiders.

Dell Technologies Stock Down 2.1 %

Shares of NYSE:DELL opened at $131.64 on Monday. The firm’s 50 day moving average price is $123.03 and its 200-day moving average price is $126.46. 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 $92.46 billion, a PE ratio of 24.20, a price-to-earnings-growth ratio of 1.39 and a beta of 0.89.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings data on Thursday, August 29th. The technology company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. The firm had revenue of $25.03 billion for the quarter, compared to analysts’ expectations of $24.14 billion. Dell Technologies had a net margin of 4.32% and a negative return on equity of 178.09%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.44 EPS. Analysts expect that Dell Technologies Inc. will post 6.92 earnings per share for the current fiscal year.

Dell Technologies Announces Dividend

The company also recently announced 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 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend was Tuesday, October 22nd. Dell Technologies’s dividend payout ratio is 32.72%.

Analyst Upgrades and Downgrades

DELL has been the topic of a number of recent research reports. UBS Group reduced their target price on shares of Dell Technologies from $164.00 to $158.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Citigroup increased their price objective on shares of Dell Technologies from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Wells Fargo & Company cut their price objective on shares of Dell Technologies from $150.00 to $140.00 and set an “overweight” rating on the stock in a research report on Friday, August 30th. Deutsche Bank Aktiengesellschaft started coverage on shares of Dell Technologies in a research report on Friday, September 27th. They set a “buy” rating and a $144.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their price objective 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. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $144.63.

Dell Technologies Company Profile

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).