Elite Wealth Management Inc. Invests $242,000 in Dell Technologies Inc. (NYSE:DELL)

Elite Wealth Management Inc. acquired a new position in Dell Technologies Inc. (NYSE:DELL) in the first quarter, HoldingsChannel reports. The institutional investor acquired 2,650 shares of the technology company’s stock, valued at approximately $242,000. Dell Technologies accounts for approximately 0.0% of Elite Wealth Management Inc.’s investment portfolio, making the stock its 29th biggest position.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Dell Technologies by 10.5% during the fourth quarter. Vanguard Group Inc. now owns 27,960,560 shares of the technology company’s stock valued at $3,222,175,000 after acquiring an additional 2,662,407 shares in the last quarter. Capital World Investors grew its stake in shares of Dell Technologies by 0.6% in the 4th quarter. Capital World Investors now owns 12,460,949 shares of the technology company’s stock worth $1,436,000,000 after buying an additional 72,271 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Dell Technologies by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 6,870,042 shares of the technology company’s stock worth $789,680,000 after buying an additional 552,213 shares in the last quarter. Norges Bank purchased a new position in shares of Dell Technologies in the 4th quarter worth $455,029,000. Finally, Northern Trust Corp grew its stake in shares of Dell Technologies by 16.1% in the 4th quarter. Northern Trust Corp now owns 3,317,258 shares of the technology company’s stock worth $382,281,000 after buying an additional 460,483 shares in the last quarter. 76.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on DELL shares. JPMorgan Chase & Co. lifted their price objective on shares of Dell Technologies from $111.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, May 30th. Morgan Stanley raised their target price on shares of Dell Technologies from $89.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, May 21st. Citigroup raised their target price on shares of Dell Technologies from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, May 30th. Barclays lifted their price objective on shares of Dell Technologies from $116.00 to $123.00 and gave the company an “equal weight” rating in a report on Friday, May 30th. Finally, UBS Group decreased their price objective on shares of Dell Technologies from $150.00 to $145.00 and set a “buy” rating for the company in a report on Friday, May 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $138.00.

Dell Technologies Trading Down 0.8%

NYSE:DELL opened at $126.90 on Monday. The company has a market cap of $86.15 billion, a PE ratio of 20.24, a P/E/G ratio of 1.17 and a beta of 1.02. Dell Technologies Inc. has a twelve month low of $66.25 and a twelve month high of $147.66. The company’s 50 day moving average is $114.25 and its two-hundred day moving average is $105.50.

Dell Technologies (NYSE:DELL) last released its quarterly earnings data on Thursday, May 29th. The technology company reported $1.55 EPS for the quarter, missing the consensus estimate of $1.68 by ($0.13). The business had revenue of $23.38 billion during the quarter, compared to analysts’ expectations of $23.17 billion. Dell Technologies had a net margin of 4.63% and a negative return on equity of 226.48%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the company earned $1.27 earnings per share. As a group, analysts expect that Dell Technologies Inc. will post 6.93 EPS for the current fiscal year.

Dell Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 22nd will be issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Tuesday, July 22nd. Dell Technologies’s dividend payout ratio (DPR) is presently 33.49%.

Insider Activity

In other Dell Technologies news, Director Lake Group L.L.C. Silver sold 10,681 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $120.33, for a total transaction of $1,285,244.73. Following the transaction, the director directly owned 938,741 shares of the company’s stock, valued at $112,958,704.53. This trade represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Brunilda Rios sold 6,000 shares of the stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $126.29, for a total transaction of $757,740.00. Following the completion of the sale, the chief accounting officer owned 18,948 shares of the company’s stock, valued at $2,392,942.92. This trade represents a 24.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,113,977 shares of company stock valued at $1,471,321,229 in the last three months. Corporate insiders own 42.00% of the company’s stock.

Dell Technologies 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).