Citigroup Inc. Boosts Stock Holdings in Dell Technologies Inc. (NYSE:DELL)

Citigroup Inc. grew its position in Dell Technologies Inc. (NYSE:DELL) by 22.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 349,623 shares of the technology company’s stock after buying an additional 64,564 shares during the period. Citigroup Inc.’s holdings in Dell Technologies were worth $41,444,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. GPS Wealth Strategies Group LLC boosted its holdings in shares of Dell Technologies by 1.4% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 5,959 shares of the technology company’s stock valued at $822,000 after buying an additional 80 shares in the last quarter. Intrepid Financial Planning Group LLC boosted its stake in Dell Technologies by 0.7% in the 3rd quarter. Intrepid Financial Planning Group LLC now owns 12,002 shares of the technology company’s stock worth $1,423,000 after purchasing an additional 80 shares in the last quarter. Smithfield Trust Co boosted its stake in Dell Technologies by 8.0% in the 3rd quarter. Smithfield Trust Co now owns 1,139 shares of the technology company’s stock worth $134,000 after purchasing an additional 84 shares in the last quarter. Graypoint LLC boosted its stake in Dell Technologies by 4.3% in the 3rd quarter. Graypoint LLC now owns 2,086 shares of the technology company’s stock worth $247,000 after purchasing an additional 86 shares in the last quarter. Finally, Affinity Wealth Management LLC boosted its stake in Dell Technologies by 2.5% in the 3rd quarter. Affinity Wealth Management LLC now owns 3,560 shares of the technology company’s stock worth $422,000 after purchasing an additional 87 shares in the last quarter. 38.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Dell Technologies news, insider William F. Scannell sold 42,595 shares of Dell Technologies stock in a transaction 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 $8,593,017.27. The trade was a 36.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael S. Dell sold 1,839,959 shares of Dell Technologies stock in a transaction on Monday, September 9th. The stock was sold at an average price of $106.68, for a total transaction of $196,286,826.12. Following the sale, the chief executive officer now directly owns 18,350,822 shares in the company, valued at approximately $1,957,665,690.96. This trade represents a 9.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,954,112 shares of company stock valued at $2,113,449,139. 46.70% of the stock is owned by corporate insiders.

Dell Technologies Price Performance

NYSE:DELL opened at $144.21 on Monday. The firm has a market cap of $101.29 billion, a price-to-earnings ratio of 26.51, a price-to-earnings-growth ratio of 1.46 and a beta of 0.89. The company has a 50 day moving average price of $125.84 and a 200-day moving average price of $126.82. Dell Technologies Inc. has a 1-year low of $67.51 and a 1-year high of $179.70.

Dell Technologies (NYSE:DELL) last posted its earnings results on Thursday, August 29th. The technology company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. The firm had revenue of $25.03 billion during the quarter, compared to analyst estimates 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 period in the previous year, the firm earned $1.44 EPS. On average, sell-side analysts anticipate that Dell Technologies Inc. will post 6.91 earnings per share for the current fiscal year.

Dell Technologies Announces Dividend

The business also recently declared 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 1.23%. The ex-dividend date of this dividend was Tuesday, October 22nd. Dell Technologies’s payout ratio is presently 32.72%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DELL. Susquehanna began coverage on shares of Dell Technologies in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $120.00 target price for the company. Morgan Stanley lifted their target price on shares of Dell Technologies from $136.00 to $154.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. lifted their price objective on shares of Dell Technologies from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Barclays lifted their price objective on shares of Dell Technologies from $97.00 to $106.00 and gave the company an “equal weight” rating in a research note on Friday, August 30th. Finally, Evercore ISI restated an “outperform” rating and set a $150.00 price objective on shares of Dell Technologies in a research note on Wednesday, November 20th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Dell Technologies has an average rating of “Moderate Buy” and a consensus price target of $146.50.

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).