Cornercap Investment Counsel Inc. Reduces Position in Dell Technologies Inc. (NYSE:DELL)

Cornercap Investment Counsel Inc. decreased its holdings in Dell Technologies Inc. (NYSE:DELL) by 3.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,016 shares of the technology company’s stock after selling 230 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Dell Technologies were worth $693,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in DELL. Vanguard Group Inc. boosted its stake in Dell Technologies by 10.5% during the fourth quarter. Vanguard Group Inc. now owns 27,960,560 shares of the technology company’s stock worth $3,222,175,000 after buying an additional 2,662,407 shares during the last quarter. State Street Corp grew its holdings in shares of 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 purchasing an additional 6,131,507 shares during the period. Geode Capital Management LLC boosted its holdings in Dell Technologies by 71.8% in the 3rd quarter. Geode Capital Management LLC now owns 6,317,829 shares of the technology company’s stock valued at $746,596,000 after purchasing an additional 2,641,456 shares during the last quarter. Norges Bank acquired a new stake in Dell Technologies during the fourth quarter worth $455,029,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Dell Technologies by 63.6% during the 4th quarter. Bank of New York Mellon Corp now owns 2,931,240 shares of the technology company’s stock worth $337,796,000 after purchasing an additional 1,139,318 shares during the period. 76.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on DELL. TD Cowen lowered their price target on Dell Technologies from $128.00 to $120.00 and set a “hold” rating for the company in a research report on Friday, February 28th. Barclays lifted their target price on Dell Technologies from $115.00 to $116.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Citigroup lowered their price objective on shares of Dell Technologies from $156.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Morgan Stanley cut their target price on shares of Dell Technologies from $154.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Finally, Wells Fargo & Company dropped their price target on shares of Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Dell Technologies currently has an average rating of “Moderate Buy” and an average price target of $141.24.

Dell Technologies Stock Down 4.9 %

Shares of DELL opened at $92.35 on Friday. Dell Technologies Inc. has a 52-week low of $86.93 and a 52-week high of $179.70. The stock has a 50 day moving average price of $104.31 and a 200 day moving average price of $116.28. The company has a market capitalization of $64.68 billion, a price-to-earnings ratio of 16.32, 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 dividend of $0.525 per share. This is a positive change from Dell Technologies’s previous quarterly dividend of $0.45. This represents a $2.10 annualized dividend and a yield of 2.27%. The ex-dividend date is Tuesday, April 22nd. Dell Technologies’s dividend payout ratio (DPR) is currently 33.76%.

Insider Activity

In other news, Director Radakovich Lynn Vojvodich sold 725 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $120.00, for a total transaction of $87,000.00. Following the completion of the sale, the director now owns 23,680 shares in the company, valued at approximately $2,841,600. This represents a 2.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director V (Gp) L.L.C. Slta sold 325,167 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now owns 810,657 shares in the company, valued at $100,943,009.64. This trade represents a 28.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 824,937 shares of company stock valued at $100,327,453. Insiders own 46.70% of the company’s stock.

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).