State of Michigan Retirement System Grows Position in Dell Technologies Inc. (NYSE:DELL)

State of Michigan Retirement System boosted its holdings in Dell Technologies Inc. (NYSE:DELL) by 28.0% in the first quarter, Holdings Channel.com reports. The institutional investor owned 18,896 shares of the technology company’s stock after acquiring an additional 4,138 shares during the period. State of Michigan Retirement System’s holdings in Dell Technologies were worth $2,156,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in Dell Technologies by 449.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,714,573 shares of the technology company’s stock valued at $284,165,000 after acquiring an additional 3,038,891 shares during the last quarter. Morgan Stanley lifted its stake in shares of Dell Technologies by 96.9% in the 3rd quarter. Morgan Stanley now owns 5,023,755 shares of the technology company’s stock worth $346,137,000 after purchasing an additional 2,472,866 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Dell Technologies by 1,071.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 1,213,463 shares of the technology company’s stock worth $92,281,000 after buying an additional 1,109,876 shares during the last quarter. Balyasny Asset Management L.P. grew its position in Dell Technologies by 2,466.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 886,409 shares of the technology company’s stock valued at $67,810,000 after buying an additional 851,867 shares during the period. Finally, Grand Alliance Asset Management Ltd purchased a new stake in Dell Technologies during the fourth quarter valued at approximately $51,638,000. Hedge funds and other institutional investors own 38.10% of the company’s stock.

Dell Technologies Stock Performance

Shares of NYSE:DELL opened at $142.67 on Friday. The firm has a fifty day moving average price of $139.88 and a 200 day moving average price of $111.77. Dell Technologies Inc. has a fifty-two week low of $52.05 and a fifty-two week high of $179.70. The firm has a market cap of $101.20 billion, a price-to-earnings ratio of 29.12, a P/E/G ratio of 1.78 and a beta of 0.92.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings data on Thursday, May 30th. The technology company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. Dell Technologies had a net margin of 4.00% and a negative return on equity of 173.72%. The business had revenue of $22.24 billion during the quarter, compared to analysts’ expectations of $21.70 billion. As a group, research analysts predict that Dell Technologies Inc. will post 6.85 earnings per share for the current year.

Dell Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 2nd. Investors of record on Tuesday, July 23rd will be given a $0.445 dividend. The ex-dividend date is Tuesday, July 23rd. This represents a $1.78 dividend on an annualized basis and a yield of 1.25%. Dell Technologies’s dividend payout ratio is presently 36.33%.

Analyst Ratings Changes

Several research analysts have recently weighed in on DELL shares. Sanford C. Bernstein lifted their price target on shares of Dell Technologies from $120.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, May 20th. Loop Capital boosted their price target on Dell Technologies from $125.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Wells Fargo & Company raised their price objective on Dell Technologies from $170.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, May 31st. Bank of America boosted their price objective on Dell Technologies from $130.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Finally, TD Cowen lifted their price target on shares of Dell Technologies from $105.00 to $155.00 and gave the company a “hold” rating in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $135.81.

Insiders Place Their Bets

In other news, General Counsel Richard J. Rothberg sold 93,954 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $132.95, for a total transaction of $12,491,184.30. Following the transaction, the general counsel now owns 86,836 shares of the company’s stock, valued at $11,544,846.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Dell Technologies news, General Counsel Richard J. Rothberg sold 93,954 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $132.95, for a total value of $12,491,184.30. Following the transaction, the general counsel now directly owns 86,836 shares in the company, valued at approximately $11,544,846.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael S. Dell sold 1,205,052 shares of Dell Technologies stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $131.96, for a total value of $159,018,661.92. Following the sale, the chief executive officer now directly owns 26,725,566 shares of the company’s stock, valued at $3,526,705,689.36. The disclosure for this sale can be found here. Insiders sold 6,097,700 shares of company stock valued at $823,448,406 over the last three months. 46.70% of the stock is owned by company insiders.

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).