Allstate Corp Has $212,000 Position in Dell Technologies Inc. (NYSE:DELL)

Allstate Corp lowered its position in Dell Technologies Inc. (NYSE:DELL) by 24.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,777 shares of the technology company’s stock after selling 903 shares during the quarter. Allstate Corp’s holdings in Dell Technologies were worth $212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Greenleaf Trust raised its position in shares of Dell Technologies by 1.2% in the fourth quarter. Greenleaf Trust now owns 10,097 shares of the technology company’s stock valued at $772,000 after purchasing an additional 122 shares during the period. ORG Partners LLC increased its position in Dell Technologies by 19.0% during the fourth quarter. ORG Partners LLC now owns 876 shares of the technology company’s stock worth $67,000 after acquiring an additional 140 shares during the period. Signet Financial Management LLC increased its position in Dell Technologies by 0.4% during the fourth quarter. Signet Financial Management LLC now owns 40,295 shares of the technology company’s stock worth $3,083,000 after acquiring an additional 153 shares during the period. Sequoia Financial Advisors LLC increased its position in Dell Technologies by 5.0% during the third quarter. Sequoia Financial Advisors LLC now owns 3,921 shares of the technology company’s stock worth $270,000 after acquiring an additional 188 shares during the period. Finally, Pinnacle Bancorp Inc. increased its position in Dell Technologies by 96.9% during the fourth quarter. Pinnacle Bancorp Inc. now owns 382 shares of the technology company’s stock worth $29,000 after acquiring an additional 188 shares during the period. 38.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on DELL. Evercore ISI raised their price target on shares of Dell Technologies from $140.00 to $165.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. Morgan Stanley raised their price target on shares of Dell Technologies from $128.00 to $152.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. TD Cowen raised their target price on shares of Dell Technologies from $75.00 to $105.00 and gave the company a “market perform” rating in a report on Friday, March 1st. Sanford C. Bernstein raised their target price on shares of Dell Technologies from $120.00 to $155.00 and gave the company an “outperform” rating in a report on Monday. Finally, UBS Group raised their target price on shares of Dell Technologies from $113.00 to $141.00 and gave the company a “buy” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Dell Technologies presently has an average rating of “Moderate Buy” and an average target price of $122.00.

Dell Technologies Stock Performance

Shares of DELL traded up $10.41 during mid-day trading on Friday, reaching $163.98. The company had a trading volume of 9,861,719 shares, compared to its average volume of 7,151,482. The company’s 50 day simple moving average is $124.87 and its 200 day simple moving average is $97.11. Dell Technologies Inc. has a 1-year low of $44.45 and a 1-year high of $166.77. The company has a market capitalization of $117.05 billion, a price-to-earnings ratio of 37.21, a P/E/G ratio of 2.31 and a beta of 0.87.

Dell Technologies (NYSE:DELL) last posted its quarterly earnings results on Thursday, February 29th. The technology company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.47. Dell Technologies had a net margin of 3.63% and a negative return on equity of 172.07%. The company had revenue of $22.32 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same period last year, the company posted $1.55 EPS. The firm’s quarterly revenue was down 10.9% compared to the same quarter last year. As a group, equities analysts forecast that Dell Technologies Inc. will post 6.74 earnings per share for the current fiscal year.

Dell Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd were paid a $0.445 dividend. This is a boost from Dell Technologies’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, April 22nd. This represents a $1.78 annualized dividend and a dividend yield of 1.09%. Dell Technologies’s payout ratio is currently 40.73%.

Insider Activity at Dell Technologies

In other Dell Technologies news, CEO Michael S. Dell sold 1,944,641 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $108.79, for a total value of $211,557,494.39. Following the sale, the chief executive officer now owns 33,412,241 shares in the company, valued at approximately $3,634,917,698.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Dell Technologies news, insider Jennifer D. Saavedra sold 18,260 shares of Dell Technologies stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $120.10, for a total value of $2,193,026.00. Following the completion of the sale, the insider now directly owns 206,961 shares in the company, valued at $24,856,016.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael S. Dell sold 1,944,641 shares of Dell Technologies stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $108.79, for a total value of $211,557,494.39. Following the completion of the sale, the chief executive officer now owns 33,412,241 shares of the company’s stock, valued at $3,634,917,698.39. The disclosure for this sale can be found here. Insiders sold 6,382,204 shares of company stock worth $718,452,037 over the last three months. Company insiders own 48.60% of the company’s stock.

Dell Technologies Profile

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).