Payden & Rygel Cuts Stock Position in Dell Technologies Inc. (NYSE:DELL)

Payden & Rygel reduced its position in Dell Technologies Inc. (NYSE:DELL) by 52.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 50,400 shares of the technology company’s stock after selling 56,100 shares during the quarter. Payden & Rygel’s holdings in Dell Technologies were worth $5,808,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of DELL. Optimist Retirement Group LLC raised its stake in shares of Dell Technologies by 27.3% in the third quarter. Optimist Retirement Group LLC now owns 2,157 shares of the technology company’s stock valued at $256,000 after acquiring an additional 463 shares in the last quarter. Public Sector Pension Investment Board purchased a new stake in Dell Technologies during the 3rd quarter worth about $1,583,000. Benjamin Edwards Inc. purchased a new position in shares of Dell Technologies in the 3rd quarter valued at about $409,000. Hilltop Holdings Inc. grew its position in shares of Dell Technologies by 176.6% during the third quarter. Hilltop Holdings Inc. now owns 5,438 shares of the technology company’s stock worth $645,000 after buying an additional 3,472 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of Dell Technologies by 52.3% during the third quarter. HighTower Advisors LLC now owns 158,593 shares of the technology company’s stock worth $18,775,000 after buying an additional 54,432 shares during the period. 76.37% of the stock is currently owned by hedge funds and other institutional investors.

Dell Technologies Stock Down 7.3 %

Shares of DELL stock opened at $71.57 on Friday. Dell Technologies Inc. has a 52-week low of $69.42 and a 52-week high of $179.70. The stock’s 50-day moving average price is $101.57 and its 200 day moving average price is $115.31. The stock has a market capitalization of $50.13 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 1.10 and a beta of 0.83.

Dell Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Tuesday, April 22nd will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 2.93%. The ex-dividend date is Tuesday, April 22nd. This is a boost from Dell Technologies’s previous quarterly dividend of $0.45. Dell Technologies’s dividend payout ratio is 33.76%.

Insider Activity at Dell Technologies

In other Dell Technologies news, Director V (Gp) L.L.C. Slta sold 325,167 shares of Dell Technologies 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 sale, the director now owns 810,657 shares of the company’s stock, valued at approximately $100,943,009.64. The trade was a 28.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Radakovich Lynn Vojvodich sold 725 shares of the stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 825,863 shares of company stock worth $100,413,839 in the last three months. Insiders own 46.70% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on DELL. OTR Global upgraded shares of Dell Technologies from a “negative” rating to a “positive” rating in a report on Wednesday, February 12th. Barclays increased their target price on Dell Technologies from $115.00 to $116.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Loop Capital decreased their price target on Dell Technologies from $185.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Citigroup dropped their price objective on Dell Technologies from $156.00 to $145.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. lowered their price target on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.24.

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).