The Manufacturers Life Insurance Company Increases Holdings in Dell Technologies Inc. (NYSE:DELL)

The Manufacturers Life Insurance Company grew its position in Dell Technologies Inc. (NYSE:DELL) by 674.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 174,635 shares of the technology company’s stock after purchasing an additional 152,076 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Dell Technologies were worth $20,701,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DELL. National Pension Service lifted its position in Dell Technologies by 8.8% in the 3rd quarter. National Pension Service now owns 620,406 shares of the technology company’s stock valued at $73,543,000 after acquiring an additional 50,304 shares in the last quarter. Woodmont Investment Counsel LLC bought a new position in shares of Dell Technologies during the third quarter valued at $5,780,000. Harvey Capital Management Inc. purchased a new stake in shares of Dell Technologies during the third quarter valued at $2,848,000. Chicago Capital LLC increased its holdings in Dell Technologies by 3.7% in the 3rd quarter. Chicago Capital LLC now owns 121,466 shares of the technology company’s stock worth $14,399,000 after buying an additional 4,385 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in Dell Technologies by 114.2% during the 1st quarter. Tidal Investments LLC now owns 10,188 shares of the technology company’s stock valued at $1,163,000 after acquiring an additional 5,432 shares during the period. Institutional investors own 38.10% of the company’s stock.

Dell Technologies Stock Performance

Shares of Dell Technologies stock opened at $127.59 on Friday. The company has a fifty day moving average of $127.41 and a 200 day moving average of $126.86. The company has a market capitalization of $89.62 billion, a P/E ratio of 22.54, a P/E/G ratio of 1.31 and a beta of 0.89. Dell Technologies Inc. has a fifty-two week low of $67.51 and a fifty-two week high of $179.70.

Dell Technologies (NYSE:DELL) last announced its quarterly earnings data on Tuesday, November 26th. The technology company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $24.37 billion during the quarter, compared to analyst estimates of $24.67 billion. During the same period last year, the firm posted $1.62 EPS. The company’s revenue was up 9.5% on a year-over-year basis. Analysts forecast that Dell Technologies Inc. will post 6.93 EPS for the current year.

Dell Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 22nd were issued a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Tuesday, October 22nd. Dell Technologies’s dividend payout ratio (DPR) is presently 31.45%.

Insider Activity

In related news, CEO Michael S. Dell sold 1,839,959 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $106.68, for a total value of $196,286,826.12. Following the completion of the transaction, the chief executive officer now directly owns 18,350,822 shares of the company’s stock, valued at approximately $1,957,665,690.96. This trade represents a 9.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William F. Scannell sold 42,595 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $117.29, for a total transaction of $4,995,967.55. Following the completion of the sale, the insider now owns 73,263 shares in the company, valued at $8,593,017.27. This represents a 36.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,962,112 shares of company stock worth $2,114,595,059 over the last 90 days. Corporate insiders own 46.70% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on DELL shares. JPMorgan Chase & Co. boosted their price objective on shares of Dell Technologies from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Evercore ISI reissued an “outperform” rating and set a $150.00 price target on shares of Dell Technologies in a report on Wednesday, November 20th. Wells Fargo & Company lifted their price objective on Dell Technologies from $140.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Barclays increased their target price on Dell Technologies from $106.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Susquehanna started coverage on Dell Technologies in a research note on Tuesday, September 10th. They set a “neutral” rating and a $120.00 price target for the company. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Dell Technologies has a consensus rating of “Moderate Buy” and an average target price of $148.18.

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).