Payden & Rygel Trims Holdings in Dell Technologies Inc. (NYSE:DELL)

Payden & Rygel lowered its position in Dell Technologies Inc. (NYSE:DELL) by 52.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,400 shares of the technology company’s stock after selling 56,100 shares during the period. Payden & Rygel’s holdings in Dell Technologies were worth $5,808,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Loop Capital cut their target price on shares of Dell Technologies from $185.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Barclays lifted their price objective on shares of Dell Technologies from $115.00 to $116.00 and gave the company an “equal weight” rating in a report 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. TD Cowen cut their price target on Dell Technologies from $128.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, February 28th. Finally, Bank of America lowered their price target on Dell Technologies from $155.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $141.24.

Insider Activity

In related news, Director V (Gp) L.L.C. Slta sold 325,167 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $124.52, for a total value of $40,489,794.84. Following the transaction, the director now directly owns 810,657 shares in the company, valued at approximately $100,943,009.64. This represents a 28.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Radakovich Lynn Vojvodich sold 725 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 23,680 shares of the company’s stock, valued at approximately $2,841,600. This trade represents a 2.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 825,863 shares of company stock valued at $100,413,839. 46.70% of the stock is currently owned by insiders.

Dell Technologies Trading Down 7.3 %

DELL stock opened at $71.57 on Friday. The firm has a 50-day moving average of $101.57 and a two-hundred day moving average of $115.31. The company has a market cap of $50.13 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.10 and a beta of 0.83. Dell Technologies Inc. has a 12 month low of $69.42 and a 12 month high of $179.70.

Dell Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Tuesday, April 22nd will be paid 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 dividend yield of 2.93%. Dell Technologies’s dividend payout ratio (DPR) is 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).