Payden & Rygel Increases Stake in Dell Technologies Inc. (NYSE:DELL)

Payden & Rygel increased its stake in Dell Technologies Inc. (NYSE:DELL - Free Report) by 15.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,500 shares of the technology company's stock after buying an additional 14,300 shares during the period. Payden & Rygel's holdings in Dell Technologies were worth $12,625,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Altman Advisors Inc. bought a new stake in Dell Technologies during the 3rd quarter valued at $1,894,000. Advisors Asset Management Inc. increased its stake in shares of Dell Technologies by 7.3% during the third quarter. Advisors Asset Management Inc. now owns 32,554 shares of the technology company's stock valued at $3,859,000 after buying an additional 2,201 shares during the period. Avior Wealth Management LLC raised its holdings in shares of Dell Technologies by 92.9% in the third quarter. Avior Wealth Management LLC now owns 5,288 shares of the technology company's stock valued at $627,000 after acquiring an additional 2,546 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Dell Technologies by 29.5% in the third quarter. PNC Financial Services Group Inc. now owns 49,071 shares of the technology company's stock worth $5,817,000 after acquiring an additional 11,189 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Dell Technologies during the 3rd quarter worth about $1,225,000. Institutional investors own 38.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DELL. Bank of America boosted their price target on Dell Technologies from $150.00 to $155.00 and gave the stock a "buy" rating in a research report on Friday, August 30th. Raymond James reduced their target price on shares of Dell Technologies from $166.00 to $160.00 and set an "outperform" rating for the company in a report on Friday, August 30th. Morgan Stanley raised their price target on shares of Dell Technologies from $136.00 to $154.00 and gave the company an "overweight" rating in a report on Monday, November 11th. TD Cowen reduced their price objective on shares of Dell Technologies from $155.00 to $128.00 and set a "hold" rating for the company in a research note on Friday, August 30th. Finally, UBS Group lowered their target price on shares of Dell Technologies from $164.00 to $158.00 and set a "buy" rating for the company in a research note on Friday, August 30th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $146.50.

Insider Buying and Selling

In other news, insider William F. Scannell sold 42,595 shares of the business's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $117.29, for a total value of $4,995,967.55. Following the sale, the insider now directly owns 73,263 shares of the company's stock, valued at approximately $8,593,017.27. The trade was a 36.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael S. Dell sold 10,000,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $122.40, for a total transaction of $1,224,000,000.00. Following the transaction, the chief executive officer now directly owns 16,912,241 shares of the company's stock, valued at $2,070,058,298.40. The trade was a 37.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,954,112 shares of company stock worth $2,113,449,139. Insiders own 46.70% of the company's stock.

Dell Technologies Stock Performance

Shares of DELL stock traded up $4.72 on Thursday, reaching $138.69. 5,734,441 shares of the company were exchanged, compared to its average volume of 10,008,829. Dell Technologies Inc. has a 1 year low of $67.51 and a 1 year high of $179.70. The business has a 50-day moving average price of $125.25 and a 200 day moving average price of $126.76. The company has a market cap of $97.41 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 1.43 and a beta of 0.89.

Dell Technologies (NYSE:DELL - Get Free Report) last issued its quarterly earnings results on Thursday, August 29th. The technology company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. Dell Technologies had a negative return on equity of 178.09% and a net margin of 4.32%. The firm had revenue of $25.03 billion during the quarter, compared to analysts' expectations of $24.14 billion. During the same period in the previous year, the business earned $1.44 earnings per share. The firm's revenue for the quarter was up 9.1% on a year-over-year basis. As a group, equities analysts anticipate that Dell Technologies Inc. will post 6.91 earnings per share for the current year.

Dell Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 22nd were issued a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Tuesday, October 22nd. Dell Technologies's dividend payout ratio is currently 32.72%.

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).