Dell Technologies Inc. (DVMT) Shares Sold by Commerce Bank
Commerce Bank reduced its position in shares of Dell Technologies Inc. (NYSE:DVMT) by 10.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,786 shares of the company’s stock after selling 1,045 shares during the period. Commerce Bank’s holdings in Dell Technologies were worth $678,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in DVMT. Stratos Wealth Partners LTD. acquired a new position in Dell Technologies during the third quarter worth about $210,000. Concentric Wealth Management LLC acquired a new position in shares of Dell Technologies in the 3rd quarter valued at $219,000. IBM Retirement Fund acquired a new position in shares of Dell Technologies in the 3rd quarter valued at $234,000. Clear Harbor Asset Management LLC acquired a new position in shares of Dell Technologies in the 3rd quarter valued at $240,000. Finally, Oakbrook Investments LLC acquired a new position in shares of Dell Technologies in the 3rd quarter valued at $270,000. 23.16% of the stock is currently owned by hedge funds and other institutional investors.
Separately, BidaskClub upgraded Dell Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 2nd.
In other Dell Technologies news, CEO Michael S. Dell acquired 81,573 shares of the firm’s stock in a transaction on Wednesday, October 18th. The stock was purchased at an average cost of $32.70 per share, for a total transaction of $2,667,437.10. Following the transaction, the chief executive officer now owns 499,604 shares of the company’s stock, valued at approximately $16,337,050.80. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Dell Technologies Inc sold 435,682 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $109.31, for a total value of $47,624,399.42. The disclosure for this sale can be found here. Insiders sold a total of 517,809 shares of company stock valued at $50,749,496 in the last quarter. 45.00% of the stock is currently owned by corporate insiders.
Dell Technologies Inc. (NYSE DVMT) traded down $0.23 during trading hours on Tuesday, hitting $81.26. The company had a trading volume of 1,246,000 shares, compared to its average volume of 1,333,079. The company has a debt-to-equity ratio of 2.44, a current ratio of 0.76 and a quick ratio of 0.70. Dell Technologies Inc. has a fifty-two week low of $51.02 and a fifty-two week high of $83.98. The firm has a market cap of $62,973.27, a price-to-earnings ratio of 12.91 and a beta of 0.60.
Dell Technologies (NYSE:DVMT) last released its quarterly earnings results on Thursday, September 7th. The company reported $1.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.09 by $0.79. Dell Technologies had a positive return on equity of 19.45% and a negative net margin of 6.24%. The business had revenue of $19.30 billion during the quarter.
About Dell Technologies
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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