Fred Alger Management LLC Purchases 336,108 Shares of Dell Technologies Inc. (NYSE:DELL)

Fred Alger Management LLC raised its position in shares of Dell Technologies Inc. (NYSE:DELL) by 124.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 605,332 shares of the technology company’s stock after acquiring an additional 336,108 shares during the quarter. Fred Alger Management LLC owned about 0.09% of Dell Technologies worth $71,756,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of DELL. Tidal Investments LLC grew its stake in Dell Technologies by 114.2% during the first quarter. Tidal Investments LLC now owns 10,188 shares of the technology company’s stock worth $1,163,000 after purchasing an additional 5,432 shares during the period. Comerica Bank boosted its holdings in shares of Dell Technologies by 48.4% during the 1st quarter. Comerica Bank now owns 28,556 shares of the technology company’s stock worth $3,259,000 after buying an additional 9,307 shares in the last quarter. iA Global Asset Management Inc. grew its position in shares of Dell Technologies by 2.1% during the 1st quarter. iA Global Asset Management Inc. now owns 7,228 shares of the technology company’s stock worth $825,000 after buying an additional 147 shares during the period. Swedbank AB bought a new stake in shares of Dell Technologies in the 1st quarter valued at $28,459,000. Finally, Atria Investments Inc lifted its position in shares of Dell Technologies by 13.9% during the 1st quarter. Atria Investments Inc now owns 37,522 shares of the technology company’s stock valued at $4,282,000 after acquiring an additional 4,583 shares during the period. 38.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Dell Technologies

In related news, insider William F. Scannell sold 42,595 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $117.29, for a total value of $4,995,967.55. Following the sale, the insider now directly owns 73,263 shares in the company, valued at approximately $8,593,017.27. The trade was a 36.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael S. Dell sold 221,460 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.07, for a total transaction of $22,604,422.20. Following the transaction, the chief executive officer now owns 20,190,781 shares of the company’s stock, valued at $2,060,873,016.67. This represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,962,112 shares of company stock worth $2,114,595,059. Insiders own 46.70% of the company’s stock.

Dell Technologies Trading Down 12.2 %

DELL stock opened at $124.38 on Friday. The stock has a market cap of $87.36 billion, a P/E ratio of 21.98, a P/E/G ratio of 1.31 and a beta of 0.89. The stock’s fifty day simple moving average is $127.21 and its two-hundred day simple moving average is $126.94. Dell Technologies Inc. has a 1-year low of $67.51 and a 1-year high of $179.70.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings results on Tuesday, November 26th. The technology company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.32. Dell Technologies had a net margin of 4.36% and a negative return on equity of 184.20%. The company had revenue of $24.37 billion for the quarter, compared to the consensus estimate of $24.67 billion. During the same period in the previous year, the firm earned $1.62 EPS. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. As a group, analysts forecast that Dell Technologies Inc. will post 6.93 earnings per share for the current fiscal year.

Dell Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 22nd were issued a $0.445 dividend. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.43%. Dell Technologies’s dividend payout ratio (DPR) is presently 31.45%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on DELL shares. Sanford C. Bernstein reduced their price target on shares of Dell Technologies from $155.00 to $140.00 and set an “outperform” rating for the company in a report on Friday, August 30th. UBS Group decreased their target price on Dell Technologies from $164.00 to $158.00 and set a “buy” rating for the company in a research report on Friday, August 30th. JPMorgan Chase & Co. increased their price target on Dell Technologies from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. TD Cowen decreased their price objective on Dell Technologies from $155.00 to $128.00 and set a “hold” rating for the company in a report on Friday, August 30th. Finally, Citigroup cut their target price on Dell Technologies from $160.00 to $156.00 and set a “buy” rating on the stock in a report on Wednesday. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.18.

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).