Norges Bank Takes Position in Dell Technologies Inc. (NYSE:DELL)

Norges Bank bought a new position in Dell Technologies Inc. (NYSE:DELL) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 3,948,536 shares of the technology company’s stock, valued at approximately $455,029,000.

Several other large investors also recently bought and sold shares of the stock. Vision Financial Markets LLC purchased a new stake in shares of Dell Technologies during the fourth quarter valued at $26,000. Lee Danner & Bass Inc. acquired a new position in shares of Dell Technologies in the fourth quarter valued at about $26,000. Byrne Asset Management LLC purchased a new position in shares of Dell Technologies in the fourth quarter worth about $28,000. True Wealth Design LLC lifted its holdings in shares of Dell Technologies by 2,530.0% during the third quarter. True Wealth Design LLC now owns 263 shares of the technology company’s stock worth $31,000 after purchasing an additional 253 shares during the period. Finally, Versant Capital Management Inc increased its holdings in Dell Technologies by 54.7% in the 4th quarter. Versant Capital Management Inc now owns 314 shares of the technology company’s stock worth $36,000 after buying an additional 111 shares during the period. Hedge funds and other institutional investors own 76.37% of the company’s stock.

Insider Transactions at Dell Technologies

In other news, Director Radakovich Lynn Vojvodich sold 725 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $120.00, for a total value of $87,000.00. Following the completion of the sale, the director now directly owns 23,680 shares in the company, valued at $2,841,600. This represents a 2.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director V (Gp) L.L.C. Slta sold 325,167 shares of Dell Technologies stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $124.52, for a total value of $40,489,794.84. Following the transaction, the director now owns 810,657 shares in the company, valued at approximately $100,943,009.64. The trade was a 28.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 824,937 shares of company stock valued at $100,327,453 over the last 90 days. 46.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on DELL. TD Cowen dropped their price objective on shares of Dell Technologies from $128.00 to $120.00 and set a “hold” rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. reduced their price objective on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft lowered their target price on Dell Technologies from $144.00 to $142.00 and set a “buy” rating on the stock in a research note on Monday, December 2nd. Wells Fargo & Company decreased their price target on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Finally, OTR Global raised shares of Dell Technologies from a “negative” rating to a “positive” rating in a research note on Wednesday, February 12th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $141.24.

Dell Technologies Price Performance

NYSE DELL opened at $92.35 on Friday. The stock’s 50 day simple moving average is $104.31 and its 200-day simple moving average is $116.21. The company has a market cap of $64.68 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 1.10 and a beta of 0.83. Dell Technologies Inc. has a 1-year low of $86.93 and a 1-year high of $179.70.

Dell Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Tuesday, April 22nd. This is a boost from Dell Technologies’s previous quarterly dividend of $0.45. Dell Technologies’s payout ratio is 33.76%.

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).