M&T Bank Corp cut its holdings in shares of Dell Inc. (NASDAQ:DELL) by 14.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,269 shares of the technology company’s stock after selling 3,010 shares during the period. M&T Bank Corp’s holdings in Dell were worth $877,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in DELL. Hanson McClain Inc. lifted its holdings in Dell by 823.4% during the first quarter. Hanson McClain Inc. now owns 434 shares of the technology company’s stock worth $25,000 after buying an additional 387 shares during the period. Trustcore Financial Services LLC bought a new position in shares of Dell in the 1st quarter worth $26,000. Israel Discount Bank of New York bought a new position in shares of Dell in the 1st quarter worth $27,000. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund purchased a new stake in shares of Dell during the 1st quarter worth $27,000. Finally, Ibex Wealth Advisors purchased a new stake in shares of Dell during the 2nd quarter worth $31,000. Hedge funds and other institutional investors own 22.92% of the company’s stock.
NASDAQ DELL traded down $0.37 during trading on Wednesday, hitting $55.11. The company’s stock had a trading volume of 15,667 shares, compared to its average volume of 2,690,820. Dell Inc. has a fifty-two week low of $42.02 and a fifty-two week high of $70.55. The company has a market cap of $39.49 billion, a PE ratio of 8.90 and a beta of 0.47. The company has a debt-to-equity ratio of 2.81, a current ratio of 0.90 and a quick ratio of 0.82. The business’s 50 day simple moving average is $51.09 and its 200-day simple moving average is $57.19.
Dell (NASDAQ:DELL) last posted its quarterly earnings data on Thursday, August 29th. The technology company reported $2.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.46 by $0.69. The firm had revenue of $23.37 billion for the quarter, compared to the consensus estimate of $23.32 billion. Dell had a negative net margin of 2.84% and a positive return on equity of 31.57%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. Analysts expect that Dell Inc. will post 6.23 EPS for the current fiscal year.
Several research firms have issued reports on DELL. Barclays lifted their target price on Dell from $53.00 to $54.00 and gave the company an “equal weight” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. set a $72.00 price target on shares of Dell and gave the company a “buy” rating in a research report on Friday, August 30th. Evercore ISI set a $63.00 price target on shares of Dell and gave the company a “buy” rating in a research report on Friday, August 30th. UBS Group raised their price target on shares of Dell from $61.00 to $67.00 and gave the company a “neutral” rating in a report on Friday, May 31st. Finally, Credit Suisse Group lifted their price objective on shares of Dell from $58.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $61.38.
In other Dell news, General Counsel Richard J. Rothberg sold 141,454 shares of Dell stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $51.13, for a total transaction of $7,232,543.02. Following the completion of the sale, the general counsel now owns 218,008 shares of the company’s stock, valued at approximately $11,146,749.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas W. Sweet sold 181,531 shares of Dell stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $52.27, for a total value of $9,488,625.37. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,676,210 shares of company stock worth $241,763,725. 46.00% of the stock is owned by insiders.
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.
Further Reading: How Do Mutual Funds Work?
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).
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.