Clearbridge Investments LLC Sells 212,485 Shares of Dell Technologies Inc. (NYSE:DELL)

Clearbridge Investments LLC lessened its holdings in Dell Technologies Inc. (NYSE:DELL) by 67.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 100,385 shares of the technology company’s stock after selling 212,485 shares during the quarter. Clearbridge Investments LLC’s holdings in Dell Technologies were worth $11,568,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. State Street Corp boosted its stake in Dell Technologies by 92.4% in the third quarter. State Street Corp now owns 12,767,011 shares of the technology company’s stock valued at $1,513,401,000 after acquiring an additional 6,131,507 shares during the last quarter. Norges Bank acquired a new position in shares of Dell Technologies during the 4th quarter worth about $455,029,000. Vanguard Group Inc. increased its stake in shares of Dell Technologies by 10.5% in the 4th quarter. Vanguard Group Inc. now owns 27,960,560 shares of the technology company’s stock valued at $3,222,175,000 after acquiring an additional 2,662,407 shares during the last quarter. Geode Capital Management LLC raised its holdings in Dell Technologies by 71.8% in the third quarter. Geode Capital Management LLC now owns 6,317,829 shares of the technology company’s stock worth $746,596,000 after purchasing an additional 2,641,456 shares during the period. Finally, Swedbank AB lifted its holdings in Dell Technologies by 803.6% during the fourth quarter. Swedbank AB now owns 1,901,112 shares of the technology company’s stock worth $219,084,000 after acquiring an additional 1,690,709 shares in the last quarter. Institutional investors and hedge funds own 76.37% of the company’s stock.

Dell Technologies Stock Up 3.7 %

Shares of Dell Technologies stock opened at $95.32 on Thursday. The company has a 50-day simple moving average of $103.15 and a two-hundred day simple moving average of $115.88. Dell Technologies Inc. has a twelve month low of $86.93 and a twelve month high of $179.70. The stock has a market capitalization of $66.77 billion, a price-to-earnings ratio of 16.84, 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. Investors of record on Tuesday, April 22nd will be paid a $0.525 dividend. This is a boost from Dell Technologies’s previous quarterly dividend of $0.45. This represents a $2.10 annualized dividend and a dividend yield of 2.20%. The ex-dividend date is Tuesday, April 22nd. Dell Technologies’s payout ratio is 33.76%.

Insider Buying and Selling

In related news, Director Radakovich Lynn Vojvodich sold 725 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $120.00, for a total transaction of $87,000.00. Following the sale, the director now owns 23,680 shares in the company, valued at approximately $2,841,600. This trade represents a 2.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Brunilda Rios sold 926 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $93.29, for a total transaction of $86,386.54. Following the transaction, the chief accounting officer now owns 37,948 shares of the company’s stock, valued at approximately $3,540,168.92. This represents a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 825,863 shares of company stock valued at $100,413,839 over the last 90 days. 46.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DELL. Wells Fargo & Company lowered their target price on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Bank of America decreased their price target on Dell Technologies from $155.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Barclays boosted their price objective on shares of Dell Technologies from $115.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. OTR Global upgraded Dell Technologies from a “negative” rating to a “positive” rating in a report on Wednesday, February 12th. Finally, Citigroup reduced their target price on Dell Technologies from $156.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $141.24.

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).