Bowling Portfolio Management LLC Invests $1.06 Million in Dell Inc. (NYSE:DELL)
Bowling Portfolio Management LLC bought a new position in Dell Inc. (NYSE:DELL) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 15,669 shares of the technology company’s stock, valued at approximately $1,061,000.
Several other institutional investors have also recently added to or reduced their stakes in the company. Nachman Norwood & Parrott Inc bought a new stake in shares of Dell in the 3rd quarter worth about $155,000. Avantax Advisory Services Inc. bought a new stake in shares of Dell in the 3rd quarter worth about $302,000. DNB Asset Management AS lifted its holdings in shares of Dell by 55.1% in the 3rd quarter. DNB Asset Management AS now owns 2,065,179 shares of the technology company’s stock worth $139,792,000 after acquiring an additional 733,459 shares during the last quarter. Ferguson Wellman Capital Management Inc. increased its stake in Dell by 3,620.5% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 161,692 shares of the technology company’s stock worth $10,945,000 after buying an additional 157,346 shares during the period. Finally, Private Wealth Strategies L.L.C. purchased a new position in Dell in the 3rd quarter worth about $225,000. Hedge funds and other institutional investors own 25.70% of the company’s stock.
Several research analysts recently commented on DELL shares. Morgan Stanley raised their price target on shares of Dell from $70.00 to $82.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 13th. Citigroup raised their price target on shares of Dell from $55.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, August 24th. JPMorgan Chase & Co. raised their price target on shares of Dell from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Thursday. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Dell from a “hold” rating to a “sell” rating in a research note on Wednesday, August 26th. Finally, Cowen raised their price target on shares of Dell from $63.00 to $66.00 and gave the stock a “market perform” rating in a research note on Friday, August 28th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $62.29.
Dell (NYSE:DELL) last issued its quarterly earnings data on Thursday, August 27th. The technology company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.54. Dell had a net margin of 2.28% and a return on equity of 129.04%. The firm had revenue of $22.78 billion for the quarter, compared to the consensus estimate of $22.50 billion. During the same quarter in the previous year, the firm earned $2.15 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, equities research analysts forecast that Dell Inc. will post 5.44 EPS for the current fiscal year.
In related news, insider William F. Scannell sold 126,001 shares of Dell stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $67.26, for a total value of $8,474,827.26. Following the completion of the sale, the insider now directly owns 522,299 shares in the company, valued at approximately $35,129,830.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas W. Sweet sold 100,000 shares of Dell stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $68.04, for a total transaction of $6,804,000.00. Following the completion of the sale, the chief financial officer now owns 175,169 shares of the company’s stock, valued at $11,918,498.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 573,132 shares of company stock worth $38,307,424. Insiders own 48.30% of the company’s stock.
Dell Inc (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels. Dell is a holding company that conducts its business worldwide through its subsidiaries. The Company operates in four segments: Large Enterprise, Public, Small and Medium Business, and Consumer.
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