Wetherby Asset Management Inc. cut its position in shares of Dell Inc. (NYSE:DELL) by 20.3% during the third quarter, HoldingsChannel.com reports. The firm owned 4,530 shares of the technology company’s stock after selling 1,152 shares during the period. Wetherby Asset Management Inc.’s holdings in Dell were worth $235,000 as of its most recent filing with the Securities and Exchange Commission.
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Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DELL. Mirador Capital Partners LP lifted its holdings in Dell by 30.1% during the 3rd quarter. Mirador Capital Partners LP now owns 5,930 shares of the technology company’s stock worth $308,000 after purchasing an additional 1,371 shares during the last quarter. Sciencast Management LP bought a new position in shares of Dell in the third quarter valued at approximately $285,000. Comerica Bank grew its holdings in shares of Dell by 3.9% in the third quarter. Comerica Bank now owns 5,961 shares of the technology company’s stock valued at $304,000 after acquiring an additional 223 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Dell by 49.5% in the third quarter. California Public Employees Retirement System now owns 316,832 shares of the technology company’s stock valued at $16,431,000 after acquiring an additional 104,846 shares in the last quarter. Finally, Usca Ria LLC bought a new position in shares of Dell in the third quarter valued at approximately $163,000. Institutional investors and hedge funds own 20.98% of the company’s stock.
Several research firms have recently issued reports on DELL. Zacks Investment Research lowered Dell from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Citigroup reduced their target price on Dell from $85.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. Wells Fargo & Co set a $68.00 target price on Dell and gave the company a “buy” rating in a report on Friday, August 30th. Evercore ISI set a $63.00 target price on Dell and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Barclays upped their target price on Dell from $53.00 to $54.00 and gave the company an “equal weight” rating in a report on Friday, August 30th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Dell currently has an average rating of “Buy” and an average target price of $60.76.
In other Dell news, CAO Maya Mcreynolds sold 3,887 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $52.76, for a total transaction of $205,078.12. Also, CFO Thomas W. Sweet sold 100,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $51.32, for a total value of $5,132,000.00. Following the sale, the chief financial officer now owns 128,889 shares in the company, valued at approximately $6,614,583.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,999,602 shares of company stock valued at $206,410,194. 14.46% of the stock is owned by corporate insiders.
NYSE DELL remained flat at $$54.31 on Friday. The company’s stock had a trading volume of 947,817 shares, compared to its average volume of 2,511,043. The stock’s 50 day simple moving average is $51.51 and its two-hundred day simple moving average is $55.13. Dell Inc. has a 1-year low of $42.02 and a 1-year high of $70.55. The company has a market cap of $39.44 billion, a price-to-earnings ratio of 3.99, a price-to-earnings-growth ratio of 0.63 and a beta of 0.94. The company has a debt-to-equity ratio of 14.85, a current ratio of 0.75 and a quick ratio of 0.68.
Dell (NYSE:DELL) last announced its quarterly earnings data on Thursday, August 29th. The technology company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.69. Dell had a return on equity of 136.69% and a net margin of 3.06%. The business had revenue of $23.37 billion during the quarter, compared to analyst estimates of $23.32 billion. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. On average, analysts forecast that Dell Inc. will post 7.18 earnings per share for the current fiscal year.
Dell Inc (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels. Dell is a holding company that conducts its business worldwide through its subsidiaries. The Company operates in four segments: Large Enterprise, Public, Small and Medium Business, and Consumer.
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