Norges Bank Makes New $194.88 Million Investment in Dell Technologies Inc. (NYSE:DELL)

Norges Bank bought a new stake in shares of Dell Technologies Inc. (NYSE:DELL) during the 4th quarter, Holdings Channel reports. The fund bought 2,658,999 shares of the technology company’s stock, valued at approximately $194,878,000.

Several other institutional investors and hedge funds have also bought and sold shares of DELL. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Dell Technologies during the first quarter valued at approximately $10,033,000. ProShare Advisors LLC increased its stake in shares of Dell Technologies by 45.8% during the third quarter. ProShare Advisors LLC now owns 10,467 shares of the technology company’s stock valued at $709,000 after buying an additional 3,288 shares during the period. Weld Capital Management LLC purchased a new position in shares of Dell Technologies during the third quarter valued at approximately $533,000. Nuveen Asset Management LLC boosted its holdings in Dell Technologies by 46.2% in the third quarter. Nuveen Asset Management LLC now owns 2,086,645 shares of the technology company’s stock worth $141,245,000 after acquiring an additional 659,224 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in Dell Technologies by 118.4% during the third quarter. AQR Capital Management LLC now owns 106,484 shares of the technology company’s stock valued at $7,208,000 after acquiring an additional 57,736 shares during the last quarter. 27.38% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upped their price objective on Dell Technologies from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday. Morgan Stanley increased their price target on Dell Technologies from $95.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, March 4th. Cowen increased their price target on Dell Technologies from $73.00 to $79.00 and gave the stock a “market perform” rating in a report on Friday, February 26th. Argus initiated coverage on Dell Technologies in a report on Wednesday, January 20th. They set a “buy” rating on the stock. Finally, JPMorgan Chase & Co. lifted their price target on Dell Technologies from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Tuesday, March 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $78.21.

NYSE:DELL opened at $91.51 on Thursday. Dell Technologies Inc. has a 12 month low of $37.20 and a 12 month high of $92.41. The stock has a 50 day moving average of $85.65 and a two-hundred day moving average of $74.54. The company has a current ratio of 0.77, a quick ratio of 0.70 and a debt-to-equity ratio of 7.29. The firm has a market cap of $69.79 billion, a P/E ratio of 28.78, a price-to-earnings-growth ratio of 0.95 and a beta of 0.96.

Dell Technologies (NYSE:DELL) last issued its earnings results on Thursday, February 25th. The technology company reported $2.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.19 by $0.51. The business had revenue of $26.15 billion for the quarter, compared to analysts’ expectations of $24.48 billion. Dell Technologies had a return on equity of 124.18% and a net margin of 2.63%. On average, research analysts forecast that Dell Technologies Inc. will post 6.25 earnings per share for the current year.

In other Dell Technologies news, COO Jeffrey W. Clarke sold 13,946 shares of Dell Technologies stock in a transaction that occurred on Wednesday, February 3rd. The shares were sold at an average price of $76.75, for a total value of $1,070,355.50. Following the completion of the sale, the chief operating officer now directly owns 484,445 shares of the company’s stock, valued at approximately $37,181,153.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Richard J. Rothberg sold 177,471 shares of Dell Technologies stock in a transaction on Wednesday, March 17th. The shares were sold at an average price of $90.00, for a total transaction of $15,972,390.00. Following the completion of the transaction, the general counsel now owns 347,495 shares in the company, valued at approximately $31,274,550. The disclosure for this sale can be found here. In the last 90 days, insiders sold 933,754 shares of company stock valued at $75,777,145. 48.30% of the stock is owned by insiders.

Dell Technologies Company Profile

Dell Technologies Inc designs, develops, manufactures, markets, sells, and support IT hardware, software, and services solutions worldwide. It operates through three segments: Infrastructure Solutions Group (ISG), Client Solutions Group (CSG), and VMware. The ISG segment provides traditional and next-generation storage solutions; and rack, blade, tower, and hyperscale servers.

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Institutional Ownership by Quarter for Dell Technologies (NYSE:DELL)

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