PNC Financial Services Group Inc. Buys 11,189 Shares of Dell Technologies Inc. (NYSE:DELL)

PNC Financial Services Group Inc. boosted its stake in shares of Dell Technologies Inc. (NYSE:DELL) by 29.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,071 shares of the technology company’s stock after acquiring an additional 11,189 shares during the period. PNC Financial Services Group Inc.’s holdings in Dell Technologies were worth $5,817,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Accordant Advisory Group Inc acquired a new position in Dell Technologies in the second quarter valued at about $28,000. Clean Yield Group acquired a new position in shares of Dell Technologies in the 3rd quarter valued at approximately $25,000. Nemes Rush Group LLC bought a new stake in shares of Dell Technologies during the 2nd quarter worth approximately $33,000. Crewe Advisors LLC acquired a new stake in shares of Dell Technologies during the 2nd quarter worth approximately $34,000. Finally, New Covenant Trust Company N.A. bought a new position in Dell Technologies in the first quarter valued at approximately $30,000. 38.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Susquehanna assumed coverage on Dell Technologies in a report on Tuesday, September 10th. They issued a “neutral” rating and a $120.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on Dell Technologies from $155.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Citigroup raised their price target on shares of Dell Technologies from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Dell Technologies in a research report on Friday, September 27th. They set a “buy” rating and a $144.00 price objective for the company. Finally, Fox Advisors upgraded shares of Dell Technologies from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Dell Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.50.

Dell Technologies Price Performance

Shares of DELL stock opened at $144.21 on Friday. The stock has a market capitalization of $101.29 billion, a PE ratio of 26.51, a PEG ratio of 1.46 and a beta of 0.89. The business’s 50 day simple moving average is $125.84 and its 200 day simple moving average is $126.86. Dell Technologies Inc. has a one year low of $67.51 and a one year high of $179.70.

Dell Technologies (NYSE:DELL) last posted its quarterly earnings data on Thursday, August 29th. The technology company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $25.03 billion during the quarter, compared to analysts’ expectations of $24.14 billion. Dell Technologies had a net margin of 4.32% and a negative return on equity of 178.09%. Dell Technologies’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.44 earnings per share. As a group, research analysts expect that Dell Technologies Inc. will post 6.91 earnings per share for the current year.

Dell Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 22nd were paid a dividend of $0.445 per share. The ex-dividend date was Tuesday, October 22nd. This represents a $1.78 annualized dividend and a yield of 1.23%. Dell Technologies’s dividend payout ratio is currently 32.72%.

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 transaction, the chief executive officer now owns 20,190,781 shares in the company, valued at approximately $2,060,873,016.67. This represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider William F. Scannell sold 42,595 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $117.29, for a total value of $4,995,967.55. Following the completion of the sale, the insider now owns 73,263 shares of the company’s stock, valued at approximately $8,593,017.27. This represents a 36.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,954,112 shares of company stock worth $2,113,449,139. 46.70% of the stock is owned by corporate insiders.

About Dell Technologies

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).