Massachusetts Financial Services Reduces Stake in Dell Technologies

Massachusetts Financial Services Co. MA has significantly reduced its investment in Dell Technologies Inc. (NYSE: DELL) by 66.1% during the third quarter, according to the latest filing with the Securities and Exchange Commission (SEC). As a result of this move, the institutional investor now holds 21,438 shares after divesting 41,866 shares during the quarter. The market value of their holding in Dell Technologies is approximately $2,541,000, based on the recent SEC report.

Changes by Other Institutional Investors

Other institutional investors have also shown interest in adjusting their positions in Dell Technologies. Clean Yield Group acquired a new stake in the company during the third quarter, which is valued at around $25,000. Meanwhile, Accordant Advisory Group Inc invested in the second quarter with a stake worth about $28,000. New Covenant Trust Company N.A. entered the market during the first quarter with an investment valued at approximately $30,000. Additionally, Nemes Rush Group LLC made a stake in Dell Technologies in the second quarter, worth $33,000. Lastly, Crewe Advisors LLC made another investment in the same quarter amounting to $34,000. Currently, 38.10% of Dell Technologies' stock is owned by hedge funds and other institutional investors.

Recent Analyst Ratings

Several brokerages have recently provided updates on Dell Technologies. UBS Group has lowered their price target from $164.00 to $158.00, maintaining a "buy" rating. Similarly, Sanford C. Bernstein has reduced their target from $155.00 to $140.00 while keeping an "outperform" rating. TD Cowen cut their price target to $128.00 from a previous $155.00 and has assigned a "hold" rating to the shares. Mizuho initiated coverage on the stock, giving it an "outperform" rating with a target price of $135.00. Additionally, Barclays raised their price target from $97.00 to $106.00, maintaining an "equal weight" rating. In total, three analysts have rated Dell Technologies as a hold, while fourteen have given it a buy rating. MarketBeat reports that Dell has an average rating of "Moderate Buy" and a consensus price target of $146.50.

Stock Performance Overview

Dell Technologies' stock (DELL) opened at $141.71 on Wednesday. The company's 50-day and 200-day moving averages are $126.91 and $126.97, respectively. The stock has experienced a fifty-two-week low of $67.51 and reached a high of $179.70. With a market capitalization of $99.54 billion, Dell has a price-to-earnings ratio of 26.05, a PEG ratio of 1.52, and a beta of 0.89.

Dividend Information

Recently, Dell Technologies announced a quarterly dividend, which investors received on November 1st. Those on record as of October 22nd received a dividend of $0.445, totaling an annualized dividend of $1.78 with a dividend yield of 1.26%. The ex-dividend date was also October 22nd, and the company's payout ratio stands at 32.72%.

Insider Trading Activity

In related news, CEO Michael S. Dell sold 10,000,000 shares on September 26th at an average price of $122.40, amounting to a total value of $1,224,000,000. Following this transaction, he retains 16,912,241 shares worth approximately $2,070,058,298.40, indicating a 37.16% decrease in his ownership stake. This transaction was disclosed through a filing with the SEC. Director Radakovich Lynn Vojvodich also sold 725 shares on October 15th for an estimated $93,887.50. Following this sale, the director holds approximately 23,680 shares valued at $3,066,560, representing a 2.97% reduction in ownership. Over the last ninety days, insiders have sold shares amounting to 17,962,112 with a total value of $2,114,595,059, while insiders collectively own 46.70% of the shares.

About Dell Technologies Inc.

Dell Technologies Inc. focuses on designing, developing, manufacturing, marketing, and selling a range of integrated solutions, products, and services globally. Its operations are divided into two segments: Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG).

Conclusion

Given the changes in stake by institutional investors and recent stock performance, Dell Technologies appears to be navigating a complex market landscape. Stakeholders and analysts continue to monitor developments closely as the company aims to strengthen its position within the technology sector.

Dell, Finance, Investment