Harvey Capital Management Inc. Makes New Investment in Dell Technologies Inc. (NYSE:DELL)

Harvey Capital Management Inc. bought a new stake in Dell Technologies Inc. (NYSE:DELL) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 24,025 shares of the technology company’s stock, valued at approximately $2,848,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of DELL. GPS Wealth Strategies Group LLC boosted its stake in Dell Technologies by 1.4% during the second quarter. GPS Wealth Strategies Group LLC now owns 5,959 shares of the technology company’s stock worth $822,000 after buying an additional 80 shares during the last quarter. Affinity Wealth Management LLC boosted its position in shares of Dell Technologies by 2.5% during the 3rd quarter. Affinity Wealth Management LLC now owns 3,560 shares of the technology company’s stock valued at $422,000 after acquiring an additional 87 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of Dell Technologies by 39.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 335 shares of the technology company’s stock valued at $40,000 after purchasing an additional 95 shares during the period. J.P. Marvel Investment Advisors LLC increased its position in Dell Technologies by 0.9% during the first quarter. J.P. Marvel Investment Advisors LLC now owns 10,887 shares of the technology company’s stock worth $1,242,000 after purchasing an additional 98 shares during the last quarter. Finally, Kathmere Capital Management LLC raised its stake in Dell Technologies by 2.2% during the second quarter. Kathmere Capital Management LLC now owns 4,607 shares of the technology company’s stock worth $635,000 after purchasing an additional 100 shares during the period. 38.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Dell Technologies news, CEO Michael S. Dell sold 221,460 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.07, for a total value of $22,604,422.20. Following the sale, the chief executive officer now directly owns 20,190,781 shares in the company, valued at $2,060,873,016.67. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Radakovich Lynn Vojvodich sold 725 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $129.50, for a total value of $93,887.50. Following the transaction, the director now directly owns 23,680 shares of the company’s stock, valued at $3,066,560. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael S. Dell sold 221,460 shares of the business’s stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.07, for a total transaction of $22,604,422.20. Following the completion of the sale, the chief executive officer now directly owns 20,190,781 shares of the company’s stock, valued at approximately $2,060,873,016.67. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,953,387 shares of company stock worth $2,113,353,236. Corporate insiders own 46.70% of the company’s stock.

Dell Technologies Trading Up 5.9 %

DELL traded up $7.24 on Friday, hitting $130.87. 13,048,446 shares of the company were exchanged, compared to its average volume of 6,065,288. The firm has a 50-day moving average price of $118.15 and a two-hundred day moving average price of $125.44. Dell Technologies Inc. has a twelve month low of $67.51 and a twelve month high of $179.70. The company has a market cap of $91.92 billion, a price-to-earnings ratio of 24.06, a price-to-earnings-growth ratio of 1.30 and a beta of 0.89.

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

Dell Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 22nd were issued a $0.445 dividend. The ex-dividend date was Tuesday, October 22nd. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.36%. Dell Technologies’s payout ratio is 32.72%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. UBS Group cut their price target on shares of Dell Technologies from $164.00 to $158.00 and set a “buy” rating for the company in a report on Friday, August 30th. Barclays lifted their target price on Dell Technologies from $97.00 to $106.00 and gave the company an “equal weight” rating in a research report on Friday, August 30th. Mizuho started coverage on Dell Technologies in a report on Tuesday, September 17th. They set an “outperform” rating and a $135.00 price target for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Dell Technologies in a report on Friday, September 27th. They issued a “buy” rating and a $144.00 price objective on the stock. Finally, Wells Fargo & Company lowered their target price on shares of Dell Technologies from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Friday, August 30th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.50.

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).