Parallel Advisors LLC Boosts Stock Position in Dell Technologies Inc. (NYSE:DELL)

Parallel Advisors LLC lifted its position in shares of Dell Technologies Inc. (NYSE:DELL) by 8.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,876 shares of the technology company’s stock after purchasing an additional 479 shares during the period. Parallel Advisors LLC’s holdings in Dell Technologies were worth $677,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Dell Technologies by 92.4% during the third quarter. State Street Corp now owns 12,767,011 shares of the technology company’s stock worth $1,513,401,000 after purchasing an additional 6,131,507 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Dell Technologies by 71.8% during 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. Bank of New York Mellon Corp lifted its holdings in Dell Technologies by 63.6% in the fourth quarter. Bank of New York Mellon Corp now owns 2,931,240 shares of the technology company’s stock worth $337,796,000 after buying an additional 1,139,318 shares during the period. Alkeon Capital Management LLC lifted its holdings in Dell Technologies by 48.3% in the third quarter. Alkeon Capital Management LLC now owns 2,146,777 shares of the technology company’s stock worth $254,479,000 after buying an additional 699,204 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Dell Technologies by 12.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,938,713 shares of the technology company’s stock worth $223,417,000 after buying an additional 213,240 shares during the period. 76.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on DELL shares. Barclays raised their price objective on shares of Dell Technologies from $115.00 to $116.00 and gave the stock an “equal weight” rating in a report on Friday, February 28th. UBS Group lowered their price objective on shares of Dell Technologies from $158.00 to $150.00 and set a “buy” rating for the company in a report on Friday, February 28th. Wells Fargo & Company lowered their price objective on shares of Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, February 28th. TD Cowen lowered their price objective on shares of Dell Technologies from $128.00 to $120.00 and set a “hold” rating for the company in a report on Friday, February 28th. Finally, Melius Research raised their target price on shares of Dell Technologies from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $141.24.

Insider Buying and Selling

In related news, Director V (Gp) L.L.C. Slta sold 325,167 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were 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 in the company, valued at approximately $100,943,009.64. This trade represents a 28.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of Dell Technologies stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $119.73, for a total transaction of $59,750,657.85. Following the transaction, the director now owns 810,657 shares in the company, valued at $97,059,962.61. This represents a 38.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 824,937 shares of company stock worth $100,327,453. 46.70% of the stock is owned by insiders.

Dell Technologies Stock Up 0.0 %

Shares of DELL opened at $98.75 on Friday. The company has a market capitalization of $69.17 billion, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 1.10 and a beta of 0.83. The firm has a 50 day moving average of $105.93 and a 200 day moving average of $116.69. Dell Technologies Inc. has a twelve month low of $86.93 and a twelve month high of $179.70.

Dell Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Tuesday, April 22nd will be issued a $0.525 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.10 annualized dividend and a yield of 2.13%. This is a boost from Dell Technologies’s previous quarterly dividend of $0.45. Dell Technologies’s dividend payout ratio (DPR) is currently 33.76%.

Dell Technologies 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).