Pinebridge Investments L.P. Makes New $32.12 Million Investment in Dell Technologies Inc. (NYSE:DELL)

Pinebridge Investments L.P. acquired a new stake in Dell Technologies Inc. (NYSE:DELL - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 278,756 shares of the technology company's stock, valued at approximately $32,124,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new stake in shares of Dell Technologies during the fourth quarter worth about $455,029,000. Vanguard Group Inc. increased its holdings in shares of Dell Technologies by 10.5% in the fourth quarter. Vanguard Group Inc. now owns 27,960,560 shares of the technology company's stock valued at $3,222,175,000 after purchasing an additional 2,662,407 shares during the period. Swedbank AB increased its stake in Dell Technologies by 803.6% in the 4th quarter. Swedbank AB now owns 1,901,112 shares of the technology company's stock valued at $219,084,000 after buying an additional 1,690,709 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Dell Technologies by 63.6% during the fourth quarter. Bank of New York Mellon Corp now owns 2,931,240 shares of the technology company's stock worth $337,796,000 after acquiring an additional 1,139,318 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in Dell Technologies by 5,047.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,021,971 shares of the technology company's stock valued at $131,170,000 after purchasing an additional 1,002,117 shares in the last quarter. Institutional investors and hedge funds own 76.37% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on DELL. Wells Fargo & Company cut their price objective on Dell Technologies from $160.00 to $150.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. Morgan Stanley lowered their target price on Dell Technologies from $154.00 to $128.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Bank of America dropped their price target on shares of Dell Technologies from $155.00 to $150.00 and set a "buy" rating on the stock in a research note on Tuesday, February 18th. Loop Capital lowered 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 note on Tuesday, March 4th. Finally, TD Cowen cut their target price on Dell Technologies from $128.00 to $120.00 and set a "hold" rating for the company in a research report on Friday, February 28th. Three analysts have rated the stock with a hold rating and sixteen have issued 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 $136.41.

Insider Buying and Selling

In related news, CAO Brunilda Rios sold 926 shares of the firm's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $93.29, for a total value of $86,386.54. Following the completion of the transaction, the chief accounting officer now directly owns 37,948 shares of the company's stock, valued at $3,540,168.92. This trade represents a 2.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 46.70% of the stock is currently owned by insiders.

Dell Technologies Stock Performance

Shares of NYSE:DELL traded up $0.61 during midday trading on Friday, hitting $95.01. The company's stock had a trading volume of 4,465,476 shares, compared to its average volume of 10,376,149. Dell Technologies Inc. has a fifty-two week low of $66.25 and a fifty-two week high of $179.70. The stock has a market capitalization of $66.30 billion, a price-to-earnings ratio of 16.79, a PEG ratio of 1.10 and a beta of 0.94. The stock's 50 day simple moving average is $93.79 and its 200 day simple moving average is $111.43.

Dell Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Tuesday, April 22nd will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 2.21%. This is a boost from Dell Technologies's previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, April 22nd. Dell Technologies's dividend payout ratio 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).