Massachusetts Financial Services Reduces Stake in Dell Technologies

Massachusetts Financial Services Co. MA has reduced its holdings in Dell Technologies Inc. (NYSE:DELL) by 66.1% during the third quarter, as detailed in their latest filing with the Securities and Exchange Commission (SEC). Following the sale of 41,866 shares, the institutional investor now holds 21,438 shares of Dell, valued at approximately $2,541,000, as per their most recent report.

In addition to Massachusetts Financial Services, several other institutional investors have also adjusted their positions in Dell Technologies. Clean Yield Group acquired a new stake during the third quarter estimated at around $25,000. Similarly, Accordant Advisory Group Inc. bought into Dell in the second quarter with a new investment of approximately $28,000. New Covenant Trust Company N.A. kicked off their investment during the first quarter with about $30,000, while Nemes Rush Group LLC and Crewe Advisors LLC each purchased new stakes in the second quarter valued at $33,000 and $34,000, respectively. Currently, 38.10% of Dell’s stock is owned by hedge funds and other institutional investors.

Changes in Analyst Ratings

Recent changes in analyst ratings for Dell Technologies have shown mixed sentiments. UBS Group lowered their price target for Dell shares from $164.00 to $158.00 and maintained a "buy" rating. Likewise, Sanford C. Bernstein reduced their target price from $155.00 to $140.00 while affirming an "outperform" rating. TD Cowen also adjusted their price target from $155.00 to $128.00, keeping a "hold" rating. Mizuho started coverage on Dell Technologies, offering an "outperform" rating and setting a target price of $135.00. However, Barclays raised its target price from $97.00 to $106.00 and assigned an "equal weight" rating. Overall, three analysts have a hold rating, while fourteen have rated the stock as a buy, resulting in a consensus recommendation of a "Moderate Buy" with an average price target of $146.50.

Dell Technologies Stock Overview

Dell Technologies stock opened at $141.71 recently, with a 50-day moving average at $126.91 and a 200-day moving average at $126.97. Over the past year, the stock has fluctuated, reaching a low of $67.51 and a high of $179.70. The company's market capitalization stands at approximately $99.54 billion, with a price-to-earnings ratio of 26.05 and a PEG ratio of 1.52. The stock has a beta of 0.89, indicating lower volatility compared to the market.

Recent Earnings Performance

Dell Technologies announced its quarterly earnings results on November 26. The company reported earnings of $2.15 per share, surpassing the consensus estimate of $1.83 by $0.32. Total revenue for the quarter was $24.37 billion, slightly below analyst estimates of $24.67 billion. Dell Technologies showed a net margin of 4.32%, while the return on equity was marked at a negative 178.09%. The company experienced a year-over-year revenue increase of 9.5% compared to the previous year when it reported earnings of $1.62 per share.

Dividend Announcement

Recently, Dell Technologies declared a quarterly dividend of $0.445, which was paid on November 1. Shareholders who were on record by October 22 received this dividend, amounting to an annualized dividend of $1.78, representing a yield of 1.26%. The ex-dividend date was October 22, with the current payout ratio being 32.72%.

Insider Trading Activity

In insider trading news, CEO Michael S. Dell sold 10,000,000 shares of his stock on September 26 for an average price of $122.40, totaling around $1.224 billion. Following this transaction, he retains 16,912,241 shares, valued over $2.07 billion. This sale reflects a 37.16% decrease in his ownership percentage. Additionally, Director Radakovich Lynn Vojvodich sold 725 shares at an average price of $129.50, accumulating a total value of nearly $93,888. Over the past ninety days, insiders have liquidated 17,962,112 shares for approximately $2.115 billion, with current insider ownership at 46.70%.

About Dell Technologies

Dell Technologies Inc. is a prominent company that designs, manufactures, markets, and sells a variety of technology solutions. The company operates through two main segments: Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG), delivering extensive and integrated products and services across different global markets.

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