Sawgrass Asset Management LLC lowered its stake in shares of Dell Technologies Inc (NYSE:DVMT) by 51.9% in the second quarter, Holdings Channel reports. The institutional investor owned 86,452 shares of the company’s stock after selling 93,222 shares during the period. Sawgrass Asset Management LLC’s holdings in Dell Technologies were worth $15,770,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Wealthcare Advisory Partners LLC raised its position in shares of Dell Technologies by 1,169.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 1,434 shares of the company’s stock valued at $105,000 after buying an additional 1,321 shares during the last quarter. Chesley Taft & Associates LLC acquired a new position in shares of Dell Technologies during the second quarter valued at about $206,000. Advisor Partners LLC acquired a new position in shares of Dell Technologies during the second quarter valued at about $207,000. Wetherby Asset Management Inc. acquired a new position in shares of Dell Technologies during the second quarter valued at about $231,000. Finally, Mariner LLC acquired a new position in shares of Dell Technologies during the first quarter valued at about $213,000. 22.67% of the stock is owned by institutional investors and hedge funds.
DVMT has been the topic of a number of analyst reports. ValuEngine cut shares of Dell Technologies from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research raised shares of Dell Technologies from a “hold” rating to a “strong-buy” rating and set a $83.00 target price on the stock in a research note on Tuesday, May 1st. Deutsche Bank upped their target price on shares of Dell Technologies from $114.00 to $120.00 and gave the company a “buy” rating in a research note on Tuesday, June 5th. Finally, Wells Fargo & Co reissued an “outperform” rating and issued a $105.00 target price on shares of Dell Technologies in a research note on Tuesday, July 3rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $108.50.
Dell Technologies (NYSE:DVMT) last posted its earnings results on Monday, June 4th. The company reported $1.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.08. The business had revenue of $21.36 billion for the quarter. Dell Technologies had a negative net margin of 3.69% and a positive return on equity of 27.01%.
Dell Technologies Profile
Dell Technologies Inc designs, develops, manufactures, markets, sells, and supports information technology (IT) products and services worldwide. It operates through three segments: Client Solutions Group (CSG), Infrastructure Solutions Group (ISG), and VMware. The CSG segment offers hardware, such as desktop personal computers, notebooks, and workstations; and branded peripherals, including monitors and projectors; third-party software and peripherals; and attached software, peripherals, and services comprising support and deployment, configuration, and extended warranty services.
Recommended Story: Price to Earnings Ratio (PE)
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.