Wells Fargo & Company MN lessened its holdings in shares of Dell Technologies Inc (NYSE:DVMT) by 0.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 137,906 shares of the company’s stock after selling 1,221 shares during the quarter. Wells Fargo & Company MN’s holdings in Dell Technologies were worth $13,394,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of DVMT. Third Point LLC purchased a new position in shares of Dell Technologies during the 2nd quarter worth $169,160,000. Alpine Associates Management Inc. purchased a new position in shares of Dell Technologies during the 2nd quarter worth $90,101,000. Renaissance Technologies LLC lifted its stake in shares of Dell Technologies by 16.7% during the 2nd quarter. Renaissance Technologies LLC now owns 5,549,700 shares of the company’s stock worth $469,394,000 after purchasing an additional 794,800 shares during the period. Morgan Stanley lifted its stake in shares of Dell Technologies by 65.7% during the 2nd quarter. Morgan Stanley now owns 1,684,914 shares of the company’s stock worth $142,512,000 after purchasing an additional 668,217 shares during the period. Finally, First Trust Advisors LP lifted its stake in shares of Dell Technologies by 656.5% during the 3rd quarter. First Trust Advisors LP now owns 694,875 shares of the company’s stock worth $67,486,000 after purchasing an additional 603,026 shares during the period. 22.93% of the stock is currently owned by institutional investors.
Shares of DVMT opened at $104.00 on Friday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.80 and a current ratio of 0.88. The firm has a market capitalization of $81.12 billion, a P/E ratio of 16.86 and a beta of 0.47. Dell Technologies Inc has a twelve month low of $64.96 and a twelve month high of $107.22.
Dell Technologies (NYSE:DVMT) last issued its earnings results on Thursday, November 29th. The company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.32. The business had revenue of $22.48 billion for the quarter. Dell Technologies had a positive return on equity of 30.92% and a negative net margin of 2.84%. Equities research analysts expect that Dell Technologies Inc will post 6.1 EPS for the current year.
DVMT has been the topic of a number of recent analyst reports. ValuEngine lowered Dell Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Deutsche Bank increased their price target on Dell Technologies from $106.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, November 16th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $107.00.
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About Dell Technologies
Dell Technologies Inc designs, develops, manufactures, markets, sells, and supports information technology (IT) products and services worldwide. It operates through three segments: Client Solutions Group (CSG), Infrastructure Solutions Group (ISG), and VMware. The CSG segment offers hardware, such as desktop personal computers, notebooks, and workstations; and branded peripherals, including monitors and projectors; third-party software and peripherals; and attached software, peripherals, and services comprising support and deployment, configuration, and extended warranty services.
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