IBM Retirement Fund Takes Position in Dell Technologies Inc. (DVMT)
IBM Retirement Fund acquired a new position in shares of Dell Technologies Inc. (NYSE:DVMT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,037 shares of the company’s stock, valued at approximately $234,000.
Other hedge funds also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. bought a new stake in Dell Technologies during the 3rd quarter worth approximately $210,000. Concentric Wealth Management LLC bought a new stake in Dell Technologies during the 3rd quarter worth approximately $219,000. Clear Harbor Asset Management LLC bought a new stake in Dell Technologies during the 3rd quarter worth approximately $240,000. Oakbrook Investments LLC bought a new stake in Dell Technologies during the 3rd quarter worth approximately $270,000. Finally, Massey Quick Simon & CO. LLC bought a new stake in Dell Technologies during the 3rd quarter worth approximately $366,000. Institutional investors and hedge funds own 23.32% of the company’s stock.
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Separately, BidaskClub raised shares of Dell Technologies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 2nd.
Dell Technologies Inc. (DVMT) traded down $1.22 during trading hours on Thursday, hitting $80.27. 1,555,600 shares of the stock were exchanged, compared to its average volume of 1,334,755. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.70 and a current ratio of 0.76. Dell Technologies Inc. has a 12 month low of $49.72 and a 12 month high of $83.98. The company has a market cap of $16,310.00 and a price-to-earnings ratio of 12.91.
Dell Technologies (NYSE:DVMT) last posted its quarterly earnings data on Thursday, September 7th. The company reported $1.88 EPS for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.79. Dell Technologies had a negative net margin of 6.24% and a positive return on equity of 19.45%. The company had revenue of $19.30 billion for the quarter.
In related news, insider David I. Goulden sold 4,700 shares of the stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $82.66, for a total transaction of $388,502.00. Following the transaction, the insider now directly owns 30,955 shares of the company’s stock, valued at $2,558,740.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Dell Technologies Inc sold 435,682 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $109.31, for a total transaction of $47,624,399.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 517,809 shares of company stock worth $50,749,496. Insiders own 45.00% of the company’s stock.
Dell Technologies Company Profile
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.
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