Allstate Corp Takes Position in Dell Technologies Inc. (NYSE:DELL)

Allstate Corp acquired a new position in shares of Dell Technologies Inc. (NYSE:DELL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 9,397 shares of the technology company’s stock, valued at approximately $1,083,000.

Other hedge funds also recently added to or reduced their stakes in the company. Burns J W & Co. Inc. NY acquired a new position in shares of Dell Technologies during the 4th quarter worth $1,272,000. iA Global Asset Management Inc. raised its position in Dell Technologies by 84.7% during the third quarter. iA Global Asset Management Inc. now owns 11,345 shares of the technology company’s stock worth $1,345,000 after acquiring an additional 5,203 shares during the last quarter. Sky Investment Group LLC acquired a new stake in shares of Dell Technologies in the fourth quarter valued at approximately $1,687,000. Enclave Advisors LLC purchased a new position in shares of Dell Technologies during the 4th quarter worth approximately $848,000. Finally, Empowered Funds LLC raised its position in shares of Dell Technologies by 12.9% during the 4th quarter. Empowered Funds LLC now owns 30,388 shares of the technology company’s stock worth $3,502,000 after purchasing an additional 3,470 shares during the last quarter. 76.37% of the stock is owned by hedge funds and other institutional investors.

Dell Technologies Price Performance

NYSE DELL opened at $92.35 on Monday. The business’s 50-day simple moving average is $104.31 and its 200-day simple moving average is $116.33. The firm has a market capitalization of $64.68 billion, a P/E ratio of 16.32, a P/E/G 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.525 per share. This is an increase from Dell Technologies’s previous quarterly dividend of $0.45. This represents a $2.10 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Tuesday, April 22nd. Dell Technologies’s payout ratio is currently 33.76%.

Analyst Ratings Changes

DELL has been the subject of several recent research reports. JPMorgan Chase & Co. dropped their price target on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. TD Cowen cut their target price on shares of Dell Technologies from $128.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, February 28th. OTR Global raised shares of Dell Technologies from a “negative” rating to a “positive” rating in a research note on Wednesday, February 12th. Bank of America cut their price objective on shares of Dell Technologies from $155.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. Finally, Loop Capital decreased their target price on shares of Dell Technologies from $185.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Dell Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $141.24.

Insider Activity

In other news, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $119.73, for a total value of $59,750,657.85. Following the completion of the sale, the director now owns 810,657 shares in the company, valued at approximately $97,059,962.61. This trade represents a 38.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Radakovich Lynn Vojvodich sold 725 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $120.00, for a total value of $87,000.00. Following the completion of the transaction, the director now owns 23,680 shares of the company’s stock, valued at approximately $2,841,600. This represents a 2.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 824,937 shares of company stock valued at $100,327,453. Company insiders own 46.70% of the company’s stock.

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).