Concentric Capital Strategies LP Buys 31,607 Shares of Dell Technologies Inc. (NYSE:DELL)

Concentric Capital Strategies LP boosted its position in Dell Technologies Inc. (NYSE:DELL) by 39.3% during the third quarter, Holdings Channel reports. The fund owned 112,009 shares of the technology company’s stock after acquiring an additional 31,607 shares during the period. Concentric Capital Strategies LP’s holdings in Dell Technologies were worth $13,278,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in Dell Technologies by 19,376.1% in the 3rd quarter. International Assets Investment Management LLC now owns 2,427,699 shares of the technology company’s stock worth $287,779,000 after purchasing an additional 2,415,234 shares during the period. Alkeon Capital Management LLC lifted 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 valued at $254,479,000 after acquiring an additional 699,204 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Dell Technologies by 103.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,133,166 shares of the technology company’s stock valued at $156,275,000 after acquiring an additional 575,166 shares during the period. Ceredex Value Advisors LLC bought a new stake in Dell Technologies in the third quarter valued at approximately $65,280,000. Finally, Fred Alger Management LLC raised its stake in shares of Dell Technologies by 124.8% during the third quarter. Fred Alger Management LLC now owns 605,332 shares of the technology company’s stock valued at $71,756,000 after acquiring an additional 336,108 shares during the last quarter. Institutional investors own 38.10% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael S. Dell sold 221,460 shares of Dell Technologies stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $102.07, for a total transaction of $22,604,422.20. Following the sale, the chief executive officer now owns 20,190,781 shares of the company’s stock, valued at approximately $2,060,873,016.67. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Yvonne Mcgill sold 8,000 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $143.24, for a total transaction of $1,145,920.00. Following the sale, the chief financial officer now directly owns 236,419 shares of the company’s stock, valued at approximately $33,864,657.56. This trade represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 17,962,112 shares of company stock valued at $2,114,595,059. 46.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on DELL shares. Mizuho dropped their price target on Dell Technologies from $155.00 to $150.00 and set an “outperform” rating for the company in a research note on Wednesday, November 27th. Raymond James cut their target price on shares of Dell Technologies from $166.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, August 30th. Melius Research increased their price target on shares of Dell Technologies from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft initiated coverage on Dell Technologies in a report on Friday, September 27th. They set a “buy” rating and a $144.00 target price on the stock. Finally, Susquehanna initiated coverage on Dell Technologies in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $120.00 target price for the company. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.18.

Dell Technologies Stock Up 2.6 %

NYSE DELL opened at $127.59 on Monday. The firm has a market capitalization of $89.62 billion, a P/E ratio of 22.54, a PEG ratio of 1.34 and a beta of 0.89. The company has a 50-day moving average price of $127.41 and a 200-day moving average price of $126.70. Dell Technologies Inc. has a 52 week low of $67.51 and a 52 week high of $179.70.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings results on Tuesday, November 26th. The technology company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.32. Dell Technologies had a net margin of 4.36% and a negative return on equity of 184.20%. The business had revenue of $24.37 billion for the quarter, compared to analysts’ expectations of $24.67 billion. During the same quarter last year, the company posted $1.62 EPS. The company’s revenue was up 9.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Dell Technologies Inc. will post 6.93 EPS for the current year.

Dell Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 22nd were given a dividend of $0.445 per share. The ex-dividend date was Tuesday, October 22nd. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.40%. Dell Technologies’s payout ratio is currently 31.45%.

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).