Harvest Fund Management Co. Ltd Decreases Stake in Dell Technologies Inc. (NYSE:DELL)

Harvest Fund Management Co. Ltd trimmed its holdings in Dell Technologies Inc. (NYSE:DELL) by 93.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 474 shares of the technology company’s stock after selling 7,083 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Dell Technologies were worth $55,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of DELL. State Street Corp raised its holdings in shares of Dell Technologies by 92.4% during 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 during the last quarter. Geode Capital Management LLC raised its stake in Dell Technologies by 71.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,317,829 shares of the technology company’s stock valued at $746,596,000 after buying an additional 2,641,456 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Dell Technologies by 63.6% during the 4th quarter. Bank of New York Mellon Corp now owns 2,931,240 shares of the technology company’s stock valued at $337,796,000 after buying an additional 1,139,318 shares during the period. Alkeon Capital Management LLC boosted its stake in shares of Dell Technologies by 48.3% in the 3rd quarter. Alkeon Capital Management LLC now owns 2,146,777 shares of the technology company’s stock worth $254,479,000 after buying an additional 699,204 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Dell Technologies by 12.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,938,713 shares of the technology company’s stock valued at $223,417,000 after acquiring an additional 213,240 shares during the last quarter. Hedge funds and other institutional investors own 76.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Wells Fargo & Company cut their target price on shares of Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. OTR Global upgraded shares of Dell Technologies from a “negative” rating to a “positive” rating in a research report on Wednesday, February 12th. UBS Group reduced their price objective on Dell Technologies from $158.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, TD Cowen lowered their target price on Dell Technologies from $128.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday, February 28th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $141.24.

Insiders Place Their Bets

In related news, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $119.73, for a total transaction of $59,750,657.85. Following the sale, the director now owns 810,657 shares of the company’s stock, valued at $97,059,962.61. This represents a 38.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Radakovich Lynn Vojvodich sold 725 shares of Dell Technologies stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $120.00, for a total transaction of $87,000.00. Following the completion of the transaction, the director now directly owns 23,680 shares of the company’s stock, valued at $2,841,600. The trade was a 2.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 824,937 shares of company stock valued at $100,327,453 in the last quarter. 46.70% of the stock is currently owned by insiders.

Dell Technologies Stock Down 1.3 %

Shares of DELL stock opened at $97.62 on Monday. The stock has a market cap of $68.38 billion, a P/E ratio of 17.25, a PEG ratio of 1.10 and a beta of 0.83. The company’s fifty day simple moving average is $105.59 and its two-hundred day simple moving average is $116.66. Dell Technologies Inc. has a 52 week low of $86.93 and a 52 week high of $179.70.

Dell Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Tuesday, April 22nd will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 2.15%. The ex-dividend date is Tuesday, April 22nd. This is a boost from Dell Technologies’s previous quarterly dividend of $0.45. Dell Technologies’s dividend payout ratio (DPR) is currently 33.76%.

About Dell Technologies

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).