Penserra Capital Management LLC Lowers Stock Holdings in Dell Technologies Inc. (NYSE:DELL)

Penserra Capital Management LLC trimmed its stake in shares of Dell Technologies Inc. (NYSE:DELL) by 85.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,990 shares of the technology company’s stock after selling 93,443 shares during the quarter. Penserra Capital Management LLC’s holdings in Dell Technologies were worth $1,894,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of DELL. Accordant Advisory Group Inc purchased a new position in Dell Technologies in the 2nd quarter valued at $28,000. Clean Yield Group acquired a new position in shares of Dell Technologies during the third quarter worth about $25,000. Nemes Rush Group LLC purchased a new position in Dell Technologies during the second quarter worth about $33,000. Crewe Advisors LLC acquired a new stake in Dell Technologies in the second quarter valued at about $34,000. Finally, New Covenant Trust Company N.A. purchased a new stake in Dell Technologies in the 1st quarter valued at approximately $30,000. 38.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on DELL shares. Sanford C. Bernstein reduced 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. Fox Advisors upgraded shares of Dell Technologies from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 30th. Bank of America raised their price objective on shares of Dell Technologies from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, August 30th. TD Cowen lowered their target price on shares of Dell Technologies from $155.00 to $128.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. Finally, Barclays lifted their price target on shares of Dell Technologies from $97.00 to $106.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $146.50.

Dell Technologies Price Performance

Dell Technologies stock opened at $144.16 on Tuesday. The firm’s 50-day moving average is $126.42 and its two-hundred day moving average is $126.91. The stock has a market capitalization of $101.26 billion, a P/E ratio of 26.50, a P/E/G ratio of 1.52 and a beta of 0.89. Dell Technologies Inc. has a 12-month low of $67.51 and a 12-month high of $179.70.

Dell Technologies (NYSE:DELL) last released its earnings results on Thursday, August 29th. The technology company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. Dell Technologies had a net margin of 4.32% and a negative return on equity of 178.09%. The firm had revenue of $25.03 billion during the quarter, compared to analysts’ expectations of $24.14 billion. During the same period in the previous year, the company earned $1.44 EPS. Dell Technologies’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, analysts forecast that Dell Technologies Inc. will post 6.91 EPS for the current year.

Dell Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders 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 dividend payout ratio (DPR) is 32.72%.

Insider Activity

In related news, insider William F. Scannell sold 42,595 shares of the company’s 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 completion of the transaction, the insider now owns 73,263 shares of the company’s stock, valued at approximately $8,593,017.27. This represents a 36.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Radakovich Lynn Vojvodich sold 725 shares of Dell Technologies stock in a transaction on Friday, November 15th. The shares were sold at an average price of $132.28, for a total transaction of $95,903.00. Following the completion of the transaction, the director now owns 23,680 shares in the company, valued at approximately $3,132,390.40. This trade represents a 2.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,954,112 shares of company stock valued at $2,113,449,139 in the last 90 days. 46.70% of the stock is currently owned by insiders.

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).