CIBC Asset Management Inc reduced its holdings in shares of Dell Technologies Inc. (NYSE:DVMT) by 63.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,580 shares of the company’s stock after selling 6,105 shares during the period. CIBC Asset Management Inc’s holdings in Dell Technologies were worth $291,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Cheyne Capital Management UK LLP bought a new stake in shares of Dell Technologies during the 3rd quarter worth approximately $2,186,000. Pentwater Capital Management LP lifted its stake in shares of Dell Technologies by 0.6% during the 3rd quarter. Pentwater Capital Management LP now owns 1,858,538 shares of the company’s stock worth $143,498,000 after acquiring an additional 11,446 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Dell Technologies by 7.1% during the 3rd quarter. Wells Fargo & Company MN now owns 1,602,358 shares of the company’s stock worth $123,719,000 after acquiring an additional 106,567 shares during the last quarter. OZ Management LP lifted its stake in shares of Dell Technologies by 1.3% during the 3rd quarter. OZ Management LP now owns 1,498,098 shares of the company’s stock worth $115,668,000 after acquiring an additional 18,868 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Dell Technologies by 0.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,353,765 shares of the company’s stock worth $104,523,000 after acquiring an additional 4,196 shares during the last quarter. 22.97% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Michael S. Dell purchased 14,350 shares of the business’s stock in a transaction dated Monday, December 11th. The shares were acquired at an average cost of $32.70 per share, for a total transaction of $469,245.00. Following the acquisition, the chief executive officer now owns 539,274 shares of the company’s stock, valued at approximately $17,634,259.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider David I. Goulden sold 4,700 shares of Dell Technologies stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $80.93, for a total value of $380,371.00. Following the completion of the transaction, the insider now owns 20,755 shares in the company, valued at $1,679,702.15. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,100 shares of company stock valued at $1,171,898. 45.00% of the stock is currently owned by corporate insiders.
A number of brokerages have weighed in on DVMT. BidaskClub lowered Dell Technologies from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. ValuEngine raised Dell Technologies from a “hold” rating to a “buy” rating in a research report on Monday, February 5th. Finally, Gabelli began coverage on Dell Technologies in a research report on Wednesday, January 31st. They set a “buy” rating and a $106.00 target price for the company.
Shares of Dell Technologies Inc. (NYSE DVMT) opened at $68.30 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 2.98. The firm has a market capitalization of $52,341.40, a price-to-earnings ratio of 10.87, a price-to-earnings-growth ratio of 1.38 and a beta of -1.25. Dell Technologies Inc. has a 1 year low of $59.92 and a 1 year high of $92.40.
Dell Technologies (NYSE:DVMT) last issued its earnings results on Thursday, December 7th. The company reported $1.57 earnings per share for the quarter. Dell Technologies had a positive return on equity of 21.53% and a negative net margin of 4.50%. equities research analysts predict that Dell Technologies Inc. will post 5.12 earnings per share for the current year.
COPYRIGHT VIOLATION NOTICE: This piece was originally published by The Lincolnian Online and is owned by of The Lincolnian Online. If you are viewing this piece on another website, it was stolen and republished in violation of United States and international trademark and copyright law. The legal version of this piece can be accessed at https://www.thelincolnianonline.com/2018/02/14/cibc-asset-management-inc-has-291000-stake-in-dell-technologies-inc-dvmt.html.
About Dell Technologies
Dell Technologies Inc, formerly Denali Holding Inc, is a provider of information technology solutions. The Company operates through two segments: Client Solutions and Enterprise Solutions Group (ESG). The Client Solutions segment includes sales to commercial and consumer customers of desktops, thin client products and notebooks, as well as services and third-party software and peripherals closely tied to the sale of Client Solutions hardware.
Want to see what other hedge funds are holding DVMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Dell Technologies Inc. (NYSE:DVMT).
Receive News & Ratings for Dell Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dell Technologies and related companies with MarketBeat.com's FREE daily email newsletter.