Sumitomo Mitsui Asset Management Company LTD cut its position in Dell Inc. (NASDAQ:DELL) by 58.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,111 shares of the technology company’s stock after selling 12,899 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Dell were worth $534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Toronto Dominion Bank acquired a new stake in shares of Dell in the fourth quarter worth approximately $983,000. Rhumbline Advisers acquired a new stake in shares of Dell in the fourth quarter worth approximately $16,513,000. McIlrath & Eck LLC acquired a new stake in shares of Dell in the first quarter worth approximately $37,000. First Bank & Trust boosted its stake in Dell by 127.7% during the first quarter. First Bank & Trust now owns 4,421 shares of the technology company’s stock worth $259,000 after buying an additional 2,479 shares during the last quarter. Finally, World Asset Management Inc acquired a new position in Dell during the fourth quarter worth $357,000. 22.92% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:DELL traded up $0.45 on Friday, reaching $66.15. The company’s stock had a trading volume of 5,248 shares, compared to its average volume of 2,426,113. Dell Inc. has a 12-month low of $42.02 and a 12-month high of $70.55. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 2.81. The company has a market capitalization of $49.58 billion, a P/E ratio of 10.72 and a beta of 0.47.

Dell (NASDAQ:DELL) last posted its earnings results on Friday, March 29th. The technology company reported $4.58 EPS for the quarter. Dell had a positive return on equity of 31.57% and a negative net margin of 2.84%. The company had revenue of $23.84 billion for the quarter. Sell-side analysts anticipate that Dell Inc. will post 6.23 earnings per share for the current fiscal year.

A number of equities analysts have weighed in on DELL shares. Zacks Investment Research lowered Dell from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. boosted their price objective on Dell from $68.00 to $77.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Citigroup reissued a “buy” rating and set a $70.00 price objective (up previously from $55.00) on shares of Dell in a research note on Friday, March 1st. Raymond James started coverage on Dell in a research note on Monday, January 28th. They set an “outperform” rating and a $57.00 price objective on the stock. Finally, BMO Capital Markets boosted their price objective on Dell from $48.00 to $52.00 and gave the stock a “market perform” rating in a research note on Monday, March 4th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Dell presently has an average rating of “Buy” and an average price target of $64.91.

ILLEGAL ACTIVITY NOTICE: “Dell Inc. (DELL) Shares Sold by Sumitomo Mitsui Asset Management Company LTD” was reported by Watch List News and is the sole property of of Watch List News. If you are viewing this piece on another domain, it was copied illegally and republished in violation of United States & international copyright & trademark law. The correct version of this piece can be accessed at https://www.watchlistnews.com/dell-inc-dell-shares-sold-by-sumitomo-mitsui-asset-management-company-ltd/3020978.html.

Dell Profile

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.

See Also: Green Investing

Want to see what other hedge funds are holding DELL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dell Inc. (NASDAQ:DELL).

Institutional Ownership by Quarter for Dell (NASDAQ:DELL)

Receive News & Ratings for Dell Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dell and related companies with MarketBeat.com's FREE daily email newsletter.