Primecap Management Co. CA Cuts Stock Position in Dell Technologies Inc. (NYSE:DELL)

Primecap Management Co. CA cut its holdings in Dell Technologies Inc. (NYSE:DELL) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 411,320 shares of the technology company’s stock after selling 9,550 shares during the quarter. Primecap Management Co. CA owned 0.06% of Dell Technologies worth $47,401,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of DELL. State Street Corp grew its holdings in shares of Dell Technologies by 92.4% in the third quarter. State Street Corp now owns 12,767,011 shares of the technology company’s stock valued at $1,513,401,000 after purchasing an additional 6,131,507 shares in the last quarter. Geode Capital Management LLC lifted its position in Dell Technologies by 71.8% in the third quarter. Geode Capital Management LLC now owns 6,317,829 shares of the technology company’s stock worth $746,596,000 after buying an additional 2,641,456 shares during the last quarter. Swedbank AB lifted its position in Dell Technologies by 803.6% in the fourth quarter. Swedbank AB now owns 1,901,112 shares of the technology company’s stock worth $219,084,000 after buying an additional 1,690,709 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Dell Technologies by 63.6% in the fourth quarter. Bank of New York Mellon Corp now owns 2,931,240 shares of the technology company’s stock worth $337,796,000 after buying an additional 1,139,318 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in Dell Technologies by 5,047.4% in the third quarter. Franklin Resources Inc. now owns 1,021,971 shares of the technology company’s stock worth $131,170,000 after buying an additional 1,002,117 shares during the last quarter. 76.37% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Dell Technologies news, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $119.73, for a total value of $59,750,657.85. Following the completion of the transaction, the director now directly owns 810,657 shares in the company, valued at approximately $97,059,962.61. The trade was a 38.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director V (Gp) L.L.C. Slta sold 325,167 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $124.52, for a total transaction of $40,489,794.84. Following the completion of the transaction, the director now owns 810,657 shares of the company’s stock, valued at $100,943,009.64. This represents a 28.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 824,937 shares of company stock worth $100,327,453. 46.70% of the stock is owned by corporate insiders.

Dell Technologies Price Performance

DELL stock opened at $96.42 on Wednesday. The business has a 50-day moving average price of $106.75 and a 200 day moving average price of $116.94. The company has a market capitalization of $67.54 billion, a P/E ratio of 17.04, a PEG ratio of 1.10 and a beta of 0.83. Dell Technologies Inc. has a 1-year low of $86.93 and a 1-year high of $179.70.

Dell Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Tuesday, April 22nd will be issued a $0.525 dividend. The ex-dividend date is Tuesday, April 22nd. This is an increase from Dell Technologies’s previous quarterly dividend of $0.45. This represents a $2.10 dividend on an annualized basis and a yield of 2.18%. Dell Technologies’s payout ratio is currently 33.76%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on DELL shares. Morgan Stanley lowered their price target on Dell Technologies from $154.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. The Goldman Sachs Group lowered their price target on Dell Technologies from $165.00 to $145.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Citigroup lowered their price target on Dell Technologies from $156.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Melius Research lifted their target price on Dell Technologies from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Finally, TD Cowen decreased their target price on Dell Technologies from $128.00 to $120.00 and set a “hold” rating for the company in a research report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $141.24.

Dell Technologies Company Profile

Dell Technologies Inc designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. The company operates through two segments, Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG).