Oppenheimer & Co. Inc. cut its stake in Dell Inc. (NASDAQ:DELL) by 10.1% in the second quarter, HoldingsChannel reports. The fund owned 9,393 shares of the technology company’s stock after selling 1,060 shares during the period. Oppenheimer & Co. Inc.’s holdings in Dell were worth $477,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. Hanson McClain Inc. increased its holdings in shares of Dell by 823.4% during the 1st quarter. Hanson McClain Inc. now owns 434 shares of the technology company’s stock valued at $25,000 after purchasing an additional 387 shares in the last quarter. Trustcore Financial Services LLC purchased a new stake in Dell during the first quarter worth $26,000. Israel Discount Bank of New York purchased a new stake in Dell during the first quarter worth $27,000. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund purchased a new stake in Dell during the first quarter worth $27,000. Finally, Ibex Wealth Advisors acquired a new stake in Dell during the second quarter valued at $31,000. Institutional investors and hedge funds own 22.92% of the company’s stock.
Shares of DELL traded down $0.36 during mid-day trading on Wednesday, hitting $55.12. 12,172 shares of the company were exchanged, compared to its average volume of 2,690,820. Dell Inc. has a 1-year low of $42.02 and a 1-year high of $70.55. The company has a debt-to-equity ratio of 2.81, a quick ratio of 0.82 and a current ratio of 0.90. The company has a 50 day moving average of $51.09 and a 200-day moving average of $57.19. The stock has a market cap of $39.49 billion, a price-to-earnings ratio of 8.90 and a beta of 0.47.
A number of research analysts have weighed in on DELL shares. Evercore ISI set a $63.00 price objective on shares of Dell and gave the company a “buy” rating in a report on Friday, August 30th. Wells Fargo & Co set a $68.00 target price on shares of Dell and gave the stock a “buy” rating in a research note on Friday, August 30th. UBS Group raised their target price on Dell from $61.00 to $67.00 and gave the company a “neutral” rating in a research report on Friday, May 31st. Morgan Stanley lifted their price target on Dell from $56.00 to $57.00 and gave the company an “equal weight” rating in a research note on Friday, August 30th. Finally, Citigroup reduced their price target on Dell from $85.00 to $65.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $61.38.
In other news, General Counsel Richard J. Rothberg sold 141,454 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $51.13, for a total transaction of $7,232,543.02. Following the completion of the sale, the general counsel now owns 218,008 shares of the company’s stock, valued at $11,146,749.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Howard D. Elias sold 7,702 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $46.74, for a total transaction of $359,991.48. The disclosure for this sale can be found here. Insiders have sold 4,676,210 shares of company stock valued at $241,763,725 in the last three months. Insiders own 46.00% 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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