Baker Avenue Asset Management LP Makes New Investment in Dell Technologies Inc. (NYSE:DELL)

Baker Avenue Asset Management LP acquired a new position in shares of Dell Technologies Inc. (NYSE:DELL) during the 1st quarter, HoldingsChannel.com reports. The institutional investor acquired 4,548 shares of the technology company’s stock, valued at approximately $415,000.

Several other institutional investors have also recently bought and sold shares of the business. Bellwether Advisors LLC purchased a new stake in shares of Dell Technologies in the fourth quarter valued at about $25,000. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Dell Technologies in the first quarter valued at about $25,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Dell Technologies in the first quarter valued at about $26,000. Cullen Frost Bankers Inc. raised its holdings in shares of Dell Technologies by 270.7% in the first quarter. Cullen Frost Bankers Inc. now owns 304 shares of the technology company’s stock valued at $28,000 after purchasing an additional 222 shares during the last quarter. Finally, Crowley Wealth Management Inc. raised its holdings in shares of Dell Technologies by 86.2% in the first quarter. Crowley Wealth Management Inc. now owns 324 shares of the technology company’s stock valued at $30,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 76.37% of the company’s stock.

Dell Technologies Stock Down 4.1%

DELL opened at $127.29 on Friday. The company has a market capitalization of $86.41 billion, a price-to-earnings ratio of 20.30, a PEG ratio of 1.03 and a beta of 1.02. The firm has a 50-day moving average price of $121.11 and a 200-day moving average price of $106.88. Dell Technologies Inc. has a twelve month low of $66.25 and a twelve month high of $147.66.

Dell Technologies (NYSE:DELL) last posted its earnings results on Thursday, May 29th. The technology company reported $1.55 earnings per share 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 negative return on equity of 226.48% and a net margin of 4.63%. Dell Technologies’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.27 EPS. On average, sell-side analysts expect that Dell Technologies Inc. will post 6.93 earnings per share for the current fiscal year.

Dell Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Tuesday, July 22nd were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Tuesday, July 22nd. Dell Technologies’s dividend payout ratio (DPR) is 33.49%.

Insider Buying and Selling

In other news, Director Iv (Gp) L.L.C. Slta sold 625,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $126.20, for a total value of $78,875,000.00. Following the completion of the transaction, the director directly owned 960,050 shares in the company, valued at approximately $121,158,310. This trade represents a 39.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director V (Gp) L.L.C. Slta sold 527,187 shares of the firm’s stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $112.83, for a total transaction of $59,482,509.21. Following the completion of the transaction, the director owned 938,741 shares of the company’s stock, valued at $105,918,147.03. This trade represents a 35.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,947,063 shares of company stock valued at $1,577,559,812 in the last three months. Insiders own 42.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Bank of America raised their price objective on shares of Dell Technologies from $155.00 to $165.00 and gave the stock a “buy” rating in a report on Friday, July 18th. Morgan Stanley raised their price objective 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 price objective 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. Evercore ISI restated an “outperform” rating on shares of Dell Technologies in a report on Thursday, May 29th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Dell Technologies from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $140.06.

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).