Miracle Mile Advisors LLC Lowers Holdings in Dell Technologies Inc. (NYSE:DELL)

Miracle Mile Advisors LLC decreased its holdings in Dell Technologies Inc. (NYSE:DELL) by 13.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,649 shares of the technology company’s stock after selling 1,948 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Dell Technologies were worth $1,744,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp acquired a new position in shares of Dell Technologies in the 4th quarter valued at about $25,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Dell Technologies by 58.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 223 shares of the technology company’s stock valued at $25,000 after purchasing an additional 82 shares in the last quarter. New Covenant Trust Company N.A. acquired a new position in shares of Dell Technologies in the 1st quarter valued at about $30,000. Central Bank & Trust Co. acquired a new position in shares of Dell Technologies in the 1st quarter valued at about $34,000. Finally, EntryPoint Capital LLC lifted its stake in shares of Dell Technologies by 748.7% in the 1st quarter. EntryPoint Capital LLC now owns 331 shares of the technology company’s stock valued at $38,000 after purchasing an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 38.10% of the company’s stock.

Dell Technologies Stock Performance

Shares of NYSE:DELL traded up $1.09 on Friday, hitting $111.30. The company’s stock had a trading volume of 11,632,608 shares, compared to its average volume of 10,302,853. Dell Technologies Inc. has a 12 month low of $53.62 and a 12 month high of $179.70. The company has a market capitalization of $78.95 billion, a price-to-earnings ratio of 22.71, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92. The stock’s 50-day moving average is $125.88 and its two-hundred day moving average is $120.36.

Dell Technologies (NYSE:DELL) last released its quarterly earnings results on Thursday, May 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.04. Dell Technologies had a negative return on equity of 173.72% and a net margin of 4.00%. The company had revenue of $22.24 billion during the quarter, compared to analysts’ expectations of $21.70 billion. Equities analysts expect that Dell Technologies Inc. will post 6.85 earnings per share for the current fiscal year.

Dell Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Tuesday, July 23rd were issued a $0.445 dividend. The ex-dividend date was Tuesday, July 23rd. This represents a $1.78 annualized dividend and a dividend yield of 1.60%. Dell Technologies’s dividend payout ratio (DPR) is 36.33%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group lifted their price objective on Dell Technologies from $113.00 to $141.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Bank of America boosted their price target on Dell Technologies from $130.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. TD Cowen boosted their price target on Dell Technologies from $105.00 to $155.00 and gave the stock a “hold” rating in a research report on Friday, May 31st. Evercore ISI reduced their price target on Dell Technologies from $165.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. Finally, Loop Capital boosted their price target on Dell Technologies from $125.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Dell Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.06.

Insider Activity

In other news, CMO Jane Tunnell sold 3,624 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $145.98, for a total transaction of $529,031.52. Following the completion of the sale, the chief marketing officer now directly owns 89,294 shares of the company’s stock, valued at $13,035,138.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director V (Gp) L.L.C. Slta sold 8,493 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $146.80, for a total transaction of $1,246,772.40. Following the transaction, the director now owns 731,612 shares of the company’s stock, valued at approximately $107,400,641.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CMO Jane Tunnell sold 3,624 shares of the stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $145.98, for a total value of $529,031.52. Following the transaction, the chief marketing officer now directly owns 89,294 shares in the company, valued at approximately $13,035,138.12. The disclosure for this sale can be found here. Insiders sold a total of 7,058,131 shares of company stock worth $963,293,619 over the last 90 days. 46.70% of the stock is currently owned by company insiders.

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).