PNC Financial Services Group Inc. decreased its stake in shares of Dell Inc. (NYSE:DELL) by 5.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,992 shares of the technology company’s stock after selling 1,367 shares during the period. PNC Financial Services Group Inc.’s holdings in Dell were worth $1,264,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in DELL. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Dell during the first quarter valued at approximately $10,033,000. Public Employees Retirement Association of Colorado raised its holdings in Dell by 14.1% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 30,515 shares of the technology company’s stock worth $1,207,000 after purchasing an additional 3,762 shares during the period. Bank of New York Mellon Corp increased its position in Dell by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 556,587 shares of the technology company’s stock worth $22,012,000 after buying an additional 7,970 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Dell by 12.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,353 shares of the technology company’s stock worth $489,000 after buying an additional 1,319 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Dell by 27.6% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 4,236 shares of the technology company’s stock valued at $167,000 after buying an additional 917 shares in the last quarter. 25.70% of the stock is currently owned by institutional investors.
Shares of NYSE DELL opened at $65.37 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 9.57. Dell Inc. has a 12-month low of $25.51 and a 12-month high of $68.61. The firm’s 50-day moving average price is $63.63 and its 200-day moving average price is $50.40. The stock has a market capitalization of $48.81 billion, a price-to-earnings ratio of 23.68, a P/E/G ratio of 1.03 and a beta of 0.91.
Dell (NYSE:DELL) last issued its quarterly earnings data on Thursday, August 27th. The technology company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.54. The business had revenue of $22.78 billion for the quarter, compared to the consensus estimate of $22.50 billion. Dell had a return on equity of 129.04% and a net margin of 2.28%. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.15 earnings per share. On average, equities analysts predict that Dell Inc. will post 5.42 EPS for the current fiscal year.
In related news, COO Jeffrey W. Clarke sold 73,275 shares of the firm’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $66.72, for a total value of $4,888,908.00. Following the transaction, the chief operating officer now owns 457,720 shares of the company’s stock, valued at approximately $30,539,078.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas W. Sweet sold 100,000 shares of Dell stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $53.50, for a total transaction of $5,350,000.00. Following the sale, the chief financial officer now owns 175,169 shares of the company’s stock, valued at approximately $9,371,541.50. The disclosure for this sale can be found here. Insiders have sold a total of 793,676 shares of company stock worth $46,991,996 in the last 90 days. 48.30% of the stock is currently owned by insiders.
A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of Dell from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, August 28th. ValuEngine upgraded shares of Dell from a “strong sell” rating to a “sell” rating in a research note on Monday, August 3rd. Nomura Instinet increased their price target on Dell from $35.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Deutsche Bank raised their price target on Dell from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Finally, UBS Group upgraded Dell from a “neutral” rating to a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. Dell currently has an average rating of “Hold” and an average target price of $60.72.
About Dell
Dell Inc (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels. Dell is a holding company that conducts its business worldwide through its subsidiaries. The Company operates in four segments: Large Enterprise, Public, Small and Medium Business, and Consumer.
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