Cornercap Investment Counsel Inc. Sells 1,204 Shares of Dell Technologies Inc. (NYSE:DELL)

Cornercap Investment Counsel Inc. cut its stake in shares of Dell Technologies Inc. (NYSE:DELL) by 16.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,246 shares of the technology company’s stock after selling 1,204 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Dell Technologies were worth $740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of DELL. US Bancorp DE lifted its position in Dell Technologies by 11.6% during the first quarter. US Bancorp DE now owns 23,855 shares of the technology company’s stock valued at $2,722,000 after purchasing an additional 2,476 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in shares of Dell Technologies by 30.4% during the first quarter. Avantax Advisory Services Inc. now owns 6,513 shares of the technology company’s stock worth $743,000 after acquiring an additional 1,520 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Dell Technologies by 22.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 135,678 shares of the technology company’s stock worth $15,482,000 after acquiring an additional 25,117 shares in the last quarter. Kingsview Wealth Management LLC purchased a new position in shares of Dell Technologies during the first quarter worth approximately $282,000. Finally, HBK Sorce Advisory LLC purchased a new position in shares of Dell Technologies during the first quarter worth approximately $206,000. 38.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Michael S. Dell sold 221,460 shares of the company’s stock in a transaction dated 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 owns 20,190,781 shares of the company’s stock, valued at $2,060,873,016.67. This represents a 1.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider William F. Scannell sold 42,595 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $117.29, for a total transaction of $4,995,967.55. Following the sale, the insider now directly owns 73,263 shares of the company’s stock, valued at $8,593,017.27. The trade was a 36.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,953,387 shares of company stock valued at $2,113,353,236. 46.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Wells Fargo & Company decreased their price target on shares of Dell Technologies from $150.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. Citigroup lifted their price target on shares of Dell Technologies from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Dell Technologies in a research note on Friday, September 27th. They issued a “buy” rating and a $144.00 target price on the stock. UBS Group decreased their target price on shares of Dell Technologies from $164.00 to $158.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Finally, Bank of America lifted their target price on shares of Dell Technologies from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Dell Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $144.63.

Dell Technologies Trading Down 2.1 %

Shares of DELL stock opened at $131.62 on Friday. Dell Technologies Inc. has a 12 month low of $67.51 and a 12 month high of $179.70. The stock has a market cap of $92.45 billion, a PE ratio of 24.19, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89. The company’s fifty day moving average price is $122.43 and its 200-day moving average price is $126.37.

Dell Technologies (NYSE:DELL) last announced its earnings results on Thursday, August 29th. The technology company reported $1.89 EPS for the quarter, beating 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 firm had revenue of $25.03 billion for the quarter, compared to analysts’ expectations of $24.14 billion. During the same quarter in the previous year, the business posted $1.44 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. On average, sell-side analysts forecast that Dell Technologies Inc. will post 6.92 earnings per share for the current fiscal year.

Dell Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 22nd were given a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend was Tuesday, October 22nd. Dell Technologies’s dividend payout ratio (DPR) is 32.72%.

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).