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

Clearline Capital LP bought a new position in Dell Technologies Inc. (NYSE:DELL) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 132,666 shares of the technology company’s stock, valued at approximately $15,726,000. Dell Technologies makes up approximately 0.7% of Clearline Capital LP’s investment portfolio, making the stock its 24th biggest position.

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

Dell Technologies Trading Up 2.6 %

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

Dell Technologies (NYSE:DELL) last issued its quarterly earnings results on Tuesday, November 26th. The technology company reported $2.15 earnings per share for the quarter, topping 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 firm had revenue of $24.37 billion during the quarter, compared to analysts’ expectations of $24.67 billion. During the same quarter in the prior year, the business earned $1.62 EPS. Dell Technologies’s quarterly revenue was up 9.5% compared to the same quarter last year. As a group, research analysts predict that Dell Technologies Inc. will post 6.93 earnings per share 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 paid a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend was Tuesday, October 22nd. Dell Technologies’s dividend payout ratio is presently 31.45%.

Analyst Upgrades and Downgrades

DELL has been the subject of a number of recent analyst reports. Evercore ISI restated an “outperform” rating and set a $150.00 price target on shares of Dell Technologies in a report on Wednesday, November 20th. TD Cowen reduced their target price on Dell Technologies from $155.00 to $128.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. Sanford C. Bernstein lowered their price target on Dell Technologies from $155.00 to $140.00 and set an “outperform” rating for the company in a report on Friday, August 30th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Dell Technologies from $144.00 to $142.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Wells Fargo & Company boosted their price target on shares of Dell Technologies from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Dell Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $148.06.

Insiders Place Their Bets

In other Dell Technologies news, insider William F. Scannell sold 42,595 shares of Dell Technologies stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $117.29, for a total value 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 36.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael S. Dell sold 10,000,000 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $122.40, for a total value of $1,224,000,000.00. Following the completion of the transaction, the chief executive officer now owns 16,912,241 shares of the company’s stock, valued at $2,070,058,298.40. The trade was a 37.16 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,962,112 shares of company stock valued at $2,114,595,059. 46.70% of the stock is owned by company insiders.

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).