Bank of New York Mellon Corp lessened its stake in Dell Technologies Inc (NYSE:DVMT) by 12.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 720,722 shares of the company’s stock after selling 97,832 shares during the quarter. Bank of New York Mellon Corp owned about 0.09% of Dell Technologies worth $60,959,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Signition LP acquired a new position in Dell Technologies during the second quarter worth about $2,258,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Dell Technologies by 265.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 132,719 shares of the company’s stock worth $11,225,000 after acquiring an additional 96,446 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Dell Technologies by 4.9% during the second quarter. Nomura Asset Management Co. Ltd. now owns 30,169 shares of the company’s stock worth $2,552,000 after acquiring an additional 1,400 shares in the last quarter. Violich Capital Management Inc. raised its stake in Dell Technologies by 0.5% during the second quarter. Violich Capital Management Inc. now owns 148,602 shares of the company’s stock worth $12,569,000 after acquiring an additional 714 shares in the last quarter. Finally, Engineers Gate Manager LP grew its holdings in shares of Dell Technologies by 1,667.0% during the second quarter. Engineers Gate Manager LP now owns 66,243 shares of the company’s stock worth $5,603,000 after purchasing an additional 62,494 shares during the last quarter. 23.34% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently weighed in on the company. Deutsche Bank boosted their price target on Dell Technologies from $114.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, June 5th. ValuEngine upgraded Dell Technologies from a “hold” rating to a “buy” rating in a report on Thursday, July 12th. Zacks Investment Research cut Dell Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, May 14th. Finally, Wells Fargo & Co restated an “outperform” rating and set a $105.00 price target on shares of Dell Technologies in a report on Tuesday, July 3rd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $108.50.
NYSE:DVMT opened at $96.63 on Friday. The stock has a market cap of $73.41 billion, a PE ratio of 15.66 and a beta of -0.17. The company has a current ratio of 0.93, a quick ratio of 0.87 and a debt-to-equity ratio of 2.64. Dell Technologies Inc has a 1-year low of $64.96 and a 1-year high of $96.94.
Dell Technologies (NYSE:DVMT) last released its quarterly earnings results on Monday, June 4th. The company reported $1.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.16 by $0.08. The company had revenue of $21.36 billion for the quarter. Dell Technologies had a positive return on equity of 27.01% and a negative net margin of 3.69%.
Dell Technologies Profile
Dell Technologies Inc designs, develops, manufactures, markets, sells, and supports information technology (IT) products and services worldwide. It operates through three segments: Client Solutions Group (CSG), Infrastructure Solutions Group (ISG), and VMware. The CSG segment offers hardware, such as desktop personal computers, notebooks, and workstations; and branded peripherals, including monitors and projectors; third-party software and peripherals; and attached software, peripherals, and services comprising support and deployment, configuration, and extended warranty services.
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