Salem Investment Counselors Inc. Decreases Position in Dell Technologies Inc. (NYSE:DELL)

Salem Investment Counselors Inc. lessened its holdings in Dell Technologies Inc. (NYSE:DELL) by 8.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 11,602 shares of the technology company’s stock after selling 1,015 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Dell Technologies were worth $1,058,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC grew its stake in shares of Dell Technologies by 42.7% during the fourth quarter. Brighton Jones LLC now owns 3,011 shares of the technology company’s stock worth $347,000 after purchasing an additional 901 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Dell Technologies during the fourth quarter worth $37,000. Louisiana State Employees Retirement System grew its stake in shares of Dell Technologies by 1.9% during the fourth quarter. Louisiana State Employees Retirement System now owns 16,500 shares of the technology company’s stock worth $1,901,000 after purchasing an additional 300 shares in the last quarter. Gladstone Institutional Advisory LLC grew its stake in shares of Dell Technologies by 17.2% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 9,656 shares of the technology company’s stock worth $1,113,000 after purchasing an additional 1,414 shares in the last quarter. Finally, Hartford Investment Management Co. grew its stake in shares of Dell Technologies by 4.9% during the fourth quarter. Hartford Investment Management Co. now owns 19,012 shares of the technology company’s stock worth $2,191,000 after purchasing an additional 883 shares in the last quarter. Hedge funds and other institutional investors own 76.37% of the company’s stock.

Analyst Upgrades and Downgrades

DELL has been the subject of a number of research reports. Morgan Stanley boosted their price target on shares of Dell Technologies from $89.00 to $126.00 and gave the company an “overweight” rating in a research report on Wednesday, May 21st. Bank of America reduced their target price on shares of Dell Technologies from $155.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Mizuho boosted their price target on shares of Dell Technologies from $140.00 to $145.00 and gave the stock an “outperform” rating in a research note on Monday, May 19th. The Goldman Sachs Group dropped their price target on shares of Dell Technologies from $165.00 to $145.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Finally, Wall Street Zen upgraded shares of Dell Technologies from a “hold” rating to a “buy” rating in a report on Saturday. Three analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $138.00.

Dell Technologies Price Performance

Shares of NYSE DELL opened at $109.48 on Friday. The company has a market cap of $76.40 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 1.10 and a beta of 1.01. Dell Technologies Inc. has a 12 month low of $66.25 and a 12 month high of $161.52. The company has a 50-day simple moving average of $100.19 and a 200-day simple moving average of $105.51.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings results on Thursday, May 29th. The technology company reported $1.55 EPS for the quarter, missing the consensus estimate of $1.68 by ($0.13). The company had revenue of $23.38 billion for the quarter, compared to analyst estimates of $23.17 billion. Dell Technologies had a negative return on equity of 191.91% and a net margin of 4.36%. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the company posted $1.27 EPS. On average, analysts anticipate that Dell Technologies Inc. will post 6.93 EPS for the current year.

Insiders Place Their Bets

In other news, General Counsel Richard J. Rothberg sold 70,165 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $108.82, for a total value of $7,635,355.30. Following the completion of the transaction, the general counsel now directly owns 79,928 shares in the company, valued at approximately $8,697,764.96. This represents a 46.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director V (Gp) L.L.C. Slta sold 8,722 shares of the company’s stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $114.12, for a total transaction of $995,354.64. Following the completion of the transaction, the director now owns 877,339 shares of the company’s stock, valued at $100,121,926.68. This trade represents a 0.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 851,905 shares of company stock valued at $97,155,665 over the last quarter. Company insiders own 42.00% of the company’s stock.

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).