Payden & Rygel Has $12.63 Million Stock Holdings in Dell Technologies Inc. (NYSE:DELL)

Payden & Rygel increased its holdings in shares of Dell Technologies Inc. (NYSE:DELL) by 15.5% in the third quarter, HoldingsChannel reports. The firm owned 106,500 shares of the technology company’s stock after buying an additional 14,300 shares during the period. Payden & Rygel’s holdings in Dell Technologies were worth $12,625,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. LRI Investments LLC bought a new stake in shares of Dell Technologies during the 1st quarter worth about $104,000. National Pension Service grew its position in shares of Dell Technologies by 8.8% in the third quarter. National Pension Service now owns 620,406 shares of the technology company’s stock valued at $73,543,000 after purchasing an additional 50,304 shares during the last quarter. Woodmont Investment Counsel LLC bought a new position in shares of Dell Technologies during the third quarter worth approximately $5,780,000. Harvey Capital Management Inc. bought a new stake in Dell Technologies in the 3rd quarter valued at $2,848,000. Finally, Chicago Capital LLC increased its position in Dell Technologies by 3.7% during the 3rd quarter. Chicago Capital LLC now owns 121,466 shares of the technology company’s stock worth $14,399,000 after buying an additional 4,385 shares during the period. Institutional investors and hedge funds own 38.10% of the company’s stock.

Dell Technologies Stock Down 1.5 %

Shares of Dell Technologies stock opened at $133.93 on Thursday. The stock has a market cap of $94.07 billion, a price-to-earnings ratio of 24.62, a P/E/G ratio of 1.39 and a beta of 0.89. Dell Technologies Inc. has a twelve month low of $67.51 and a twelve month high of $179.70. The company’s fifty day moving average is $124.71 and its 200 day moving average is $126.67.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings results on Thursday, August 29th. The technology company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. Dell Technologies had a negative return on equity of 178.09% and a net margin of 4.32%. The company had revenue of $25.03 billion during the quarter, compared to analysts’ expectations of $24.14 billion. During the same quarter in the prior year, the firm posted $1.44 earnings per share. The business’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, equities analysts anticipate that Dell Technologies Inc. will post 6.92 earnings per share for the current fiscal year.

Dell Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 22nd were given a dividend of $0.445 per share. The ex-dividend date was Tuesday, October 22nd. This represents a $1.78 annualized dividend and a dividend yield of 1.33%. Dell Technologies’s payout ratio is 32.72%.

Insider Buying and Selling

In other news, CEO Michael S. Dell sold 221,460 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.07, for a total value of $22,604,422.20. Following the completion of the sale, the chief executive officer now directly owns 20,190,781 shares in the company, valued at $2,060,873,016.67. This trade represents a 1.08 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Radakovich Lynn Vojvodich sold 725 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $132.28, for a total value of $95,903.00. Following the transaction, the director now directly owns 23,680 shares in the company, valued at $3,132,390.40. The trade was a 2.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,954,112 shares of company stock valued at $2,113,449,139 over the last 90 days. Company insiders own 46.70% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Bank of America raised their target price on shares of Dell Technologies from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Morgan Stanley raised their target price on shares of Dell Technologies from $136.00 to $154.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Raymond James decreased their price objective on shares of Dell Technologies from $166.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, August 30th. Mizuho started coverage on Dell Technologies in a research note on Tuesday, September 17th. They set an “outperform” rating and a $135.00 target price for the company. Finally, Evercore ISI reiterated an “outperform” rating and issued a $150.00 price target on shares of Dell Technologies in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Dell Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $146.50.

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).