Lewis Asset Management LLC Makes New $272,000 Investment in Dell Technologies Inc. (NYSE:DELL)

Lewis Asset Management LLC purchased a new position in Dell Technologies Inc. (NYSE:DELL) during the third quarter, HoldingsChannel reports. The firm purchased 2,295 shares of the technology company’s stock, valued at approximately $272,000.

Other institutional investors also recently added to or reduced their stakes in the company. Clean Yield Group bought a new position in Dell Technologies in the 3rd quarter worth about $25,000. Accordant Advisory Group Inc bought a new position in Dell Technologies in the second quarter worth approximately $28,000. New Covenant Trust Company N.A. purchased a new position in Dell Technologies during the 1st quarter worth $30,000. Nemes Rush Group LLC bought a new stake in Dell Technologies during the 2nd quarter valued at $33,000. Finally, Crewe Advisors LLC bought a new stake in shares of Dell Technologies in the second quarter valued at about $34,000. Hedge funds and other institutional investors own 38.10% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Michael S. Dell sold 221,460 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.07, for a total value of $22,604,422.20. Following the completion of the sale, the chief executive officer now directly owns 20,190,781 shares in the company, valued at $2,060,873,016.67. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Michael S. Dell sold 221,460 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 20,190,781 shares in the company, valued at $2,060,873,016.67. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael S. Dell sold 1,839,959 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $106.68, for a total value of $196,286,826.12. Following the completion of the sale, the chief executive officer now directly owns 18,350,822 shares of the company’s stock, valued at approximately $1,957,665,690.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,953,387 shares of company stock valued at $2,113,353,236 in the last 90 days. 46.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DELL. Morgan Stanley cut their price target on Dell Technologies from $142.00 to $136.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. Deutsche Bank Aktiengesellschaft assumed coverage on Dell Technologies in a research note on Friday, September 27th. They issued a “buy” rating and a $144.00 price target for the company. Evercore ISI restated an “outperform” rating and set a $140.00 price target on shares of Dell Technologies in a research note on Wednesday, August 28th. Susquehanna initiated coverage on shares of Dell Technologies in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $120.00 price objective for the company. Finally, TD Cowen cut their price objective on Dell Technologies from $155.00 to $128.00 and set a “hold” rating on the stock in a report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.50.

Dell Technologies Price Performance

Shares of DELL stock opened at $137.88 on Friday. The stock has a 50 day simple moving average of $119.49 and a 200-day simple moving average of $125.78. Dell Technologies Inc. has a 1-year low of $67.51 and a 1-year high of $179.70. The company has a market cap of $96.85 billion, a price-to-earnings ratio of 25.35, a PEG ratio of 1.37 and a beta of 0.89.

Dell Technologies (NYSE:DELL) last released its earnings results on Thursday, August 29th. The technology company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Dell Technologies had a net margin of 4.32% and a negative return on equity of 178.09%. The business had revenue of $25.03 billion during the quarter, compared to analysts’ expectations of $24.14 billion. During the same quarter in the previous year, the company earned $1.44 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Analysts anticipate that Dell Technologies Inc. will post 6.91 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, November 1st. Shareholders 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 yield of 1.29%. Dell Technologies’s payout ratio is currently 32.72%.

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).