State of New Jersey Common Pension Fund D grew its stake in shares of Dell Technologies Inc (NYSE:DVMT) by 103.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 235,761 shares of the company’s stock after acquiring an additional 120,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Dell Technologies were worth $22,897,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of DVMT. Canyon Capital Advisors LLC raised its stake in shares of Dell Technologies by 694.4% during the first quarter. Canyon Capital Advisors LLC now owns 3,035,577 shares of the company’s stock valued at $222,235,000 after acquiring an additional 2,653,460 shares in the last quarter. Third Point LLC bought a new stake in shares of Dell Technologies during the second quarter valued at approximately $169,160,000. Alpine Associates Management Inc. bought a new stake in shares of Dell Technologies during the second quarter valued at approximately $90,101,000. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Dell Technologies by 395.1% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,019,145 shares of the company’s stock valued at $86,199,000 after acquiring an additional 813,315 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Dell Technologies by 16.7% during the second quarter. Renaissance Technologies LLC now owns 5,549,700 shares of the company’s stock valued at $469,394,000 after acquiring an additional 794,800 shares in the last quarter. 23.24% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently weighed in on DVMT. ValuEngine downgraded shares of Dell Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, September 19th. Zacks Investment Research raised shares of Dell Technologies from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research note on Wednesday, July 4th. Finally, Wells Fargo & Co reissued an “outperform” rating and issued a $105.00 price objective on shares of Dell Technologies in a research note on Tuesday, July 3rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $108.50.
Dell Technologies (NYSE:DVMT) last issued its quarterly earnings data on Thursday, September 6th. The company reported $1.81 EPS for the quarter. The company had revenue of $22.94 billion during the quarter. Dell Technologies had a negative net margin of 3.01% and a positive return on equity of 30.61%.
About Dell Technologies
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.
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