Jennison Associates LLC Lowers Stock Position in Dell Technologies Inc. (NYSE:DELL)

Jennison Associates LLC lowered its position in Dell Technologies Inc. (NYSE:DELL) by 32.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,369,342 shares of the technology company’s stock after selling 655,694 shares during the quarter. Jennison Associates LLC’s holdings in Dell Technologies were worth $104,755,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC lifted its holdings in Dell Technologies by 12.3% in the 3rd quarter. CWM LLC now owns 3,834 shares of the technology company’s stock worth $264,000 after buying an additional 421 shares in the last quarter. IFP Advisors Inc increased its holdings in Dell Technologies by 99.3% during the 3rd quarter. IFP Advisors Inc now owns 1,208 shares of the technology company’s stock worth $83,000 after purchasing an additional 602 shares during the last quarter. HB Wealth Management LLC acquired a new position in shares of Dell Technologies in the 3rd quarter valued at approximately $218,000. SG Americas Securities LLC grew its position in shares of Dell Technologies by 103.3% during the third quarter. SG Americas Securities LLC now owns 3,099 shares of the technology company’s stock worth $214,000 after buying an additional 98,158 shares in the last quarter. Finally, Rheos Capital Works Inc. acquired a new stake in Dell Technologies in the third quarter valued at $34,795,000. 38.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Dell Technologies news, insider William F. Scannell sold 106,483 shares of the company’s stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $129.15, for a total value of $13,752,279.45. Following the transaction, the insider now owns 356,077 shares in the company, valued at approximately $45,987,344.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider William F. Scannell sold 106,483 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $129.15, for a total transaction of $13,752,279.45. Following the completion of the sale, the insider now directly owns 356,077 shares of the company’s stock, valued at approximately $45,987,344.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director V (Gp) L.L.C. Slta sold 373,375 shares of Dell Technologies stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $126.32, for a total value of $47,164,730.00. Following the sale, the director now owns 408,694 shares of the company’s stock, valued at $51,626,226.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,382,204 shares of company stock worth $718,452,037. 48.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on DELL shares. The Goldman Sachs Group boosted their target price on shares of Dell Technologies from $87.00 to $129.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Evercore ISI lifted their target price on Dell Technologies from $95.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. Morgan Stanley upped their price target on Dell Technologies from $100.00 to $128.00 and gave the company an “overweight” rating in a research report on Friday, March 1st. Loop Capital began coverage on shares of Dell Technologies in a research report on Wednesday, February 28th. They issued a “buy” rating and a $125.00 price target on the stock. Finally, Sanford C. Bernstein boosted their price objective on shares of Dell Technologies from $90.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $104.63.

Dell Technologies Stock Performance

NYSE DELL opened at $115.54 on Tuesday. Dell Technologies Inc. has a 1 year low of $41.47 and a 1 year high of $136.16. The business’s fifty day moving average is $109.53 and its two-hundred day moving average is $86.83. The stock has a market capitalization of $82.47 billion, a P/E ratio of 26.44, a P/E/G ratio of 1.45 and a beta of 0.92.

Dell Technologies (NYSE:DELL) last released its earnings results on Thursday, February 29th. The technology company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.47. The business had revenue of $22.32 billion for the quarter, compared to the consensus estimate of $22.17 billion. Dell Technologies had a net margin of 3.63% and a negative return on equity of 172.07%. The firm’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same period last year, the firm posted $1.55 earnings per share. On average, research analysts forecast that Dell Technologies Inc. will post 6.58 earnings per share for the current year.

Dell Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd will be given a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.54%. This is a positive change from Dell Technologies’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Monday, April 22nd. Dell Technologies’s dividend payout ratio is 33.87%.

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).