Teachers Retirement System of The State of Kentucky Cuts Position in Dell Technologies Inc. $DELL

Key Points

• Teachers Retirement System of The State of Kentucky reduced its stake in Dell Technologies by 12.5% in Q4, selling 36,000 shares and leaving it with 252,230 shares valued at about $31.75 million.
• Meanwhile several large institutions notably increased positions (Wellington, Invesco, Franklin, Vanguard), leaving hedge funds and institutions owning 76.37% of Dell’s stock, signaling broad institutional accumulation despite the Kentucky fund’s cut.
• Dell posted a strong quarter—$3.89 EPS vs $3.53 expected and revenue of $33.38B (+39.5% YoY), announced a raised quarterly dividend ($0.63) and landed a $1.44 billion AI deal, fueling analyst upgrades and bullish sentiment.

Teachers Retirement System of The State of Kentucky lessened its holdings in Dell Technologies Inc. (NYSE:DELL - Free Report) by 12.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 252,230 shares of the technology company's stock after selling 36,000 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Dell Technologies were worth $31,750,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of DELL. Wellington Management Group LLP increased its stake in shares of Dell Technologies by 4,279.1% in the 3rd quarter. Wellington Management Group LLP now owns 3,005,776 shares of the technology company's stock valued at $426,129,000 after purchasing an additional 2,937,137 shares in the last quarter. Invesco Ltd. raised its position in Dell Technologies by 82.3% during the third quarter. Invesco Ltd. now owns 4,855,154 shares of the technology company's stock worth $688,315,000 after acquiring an additional 2,191,317 shares during the period. Franklin Resources Inc. raised its position in Dell Technologies by 541.9% during the third quarter. Franklin Resources Inc. now owns 1,996,557 shares of the technology company's stock worth $283,052,000 after acquiring an additional 1,685,529 shares during the period. Vanguard Group Inc. raised its position in Dell Technologies by 4.5% during the fourth quarter. Vanguard Group Inc. now owns 31,441,451 shares of the technology company's stock worth $3,957,850,000 after acquiring an additional 1,355,841 shares during the period. Finally, AQR Capital Management LLC raised its position in Dell Technologies by 628.5% during the second quarter. AQR Capital Management LLC now owns 1,374,078 shares of the technology company's stock worth $168,462,000 after acquiring an additional 1,185,454 shares during the period. Hedge funds and other institutional investors own 76.37% of the company's stock.

Dell Technologies Stock Up 1.9%

Shares of NYSE DELL opened at $216.13 on Friday. The firm has a 50-day simple moving average of $161.80 and a 200-day simple moving average of $142.96. The stock has a market capitalization of $139.57 billion, a price-to-earnings ratio of 24.79, a price-to-earnings-growth ratio of 0.86 and a beta of 0.88. Dell Technologies Inc. has a 52 week low of $86.76 and a 52 week high of $219.26.

Dell Technologies (NYSE:DELL - Get Free Report) last issued its earnings results on Thursday, February 26th. The technology company reported $3.89 EPS for the quarter, beating analysts' consensus estimates of $3.53 by $0.36. The business had revenue of $33.38 billion during the quarter, compared to analysts' expectations of $31.60 billion. Dell Technologies had a net margin of 5.23% and a negative return on equity of 236.90%. The company's quarterly revenue was up 39.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.68 earnings per share. Dell Technologies has set its Q1 2027 guidance at 2.900-2.900 EPS and its FY 2027 guidance at 12.900-12.900 EPS. As a group, equities research analysts expect that Dell Technologies Inc. will post 11.9 EPS for the current year.

Dell Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Tuesday, April 21st will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.2%. This is a positive change from Dell Technologies's previous quarterly dividend of $0.53. The ex-dividend date is Tuesday, April 21st. Dell Technologies's dividend payout ratio (DPR) is currently 28.90%.

Insiders Place Their Bets

In other news, CFO David Alan Kennedy sold 19,500 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $182.53, for a total value of $3,559,335.00. Following the completion of the sale, the chief financial officer directly owned 183,097 shares in the company, valued at $33,420,695.41. This represents a 9.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider William F. Scannell sold 143,067 shares of the stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $165.00, for a total transaction of $23,606,055.00. Following the completion of the sale, the insider owned 21,779 shares of the company's stock, valued at $3,593,535. This trade represents a 86.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 3,571,688 shares of company stock valued at $576,654,105. Corporate insiders own 42.00% of the company's stock.

Key Dell Technologies News

Here are the key news stories impacting Dell Technologies this week:

• Positive Sentiment: Signed a $1.44 billion AI purchase agreement to support Boost Run’s AI deployments — a tangible revenue win that reinforces Dell’s exposure to hyperscaler/enterprise AI spending and underpins near-term server demand. Dell Signs $1.4 Billion AI Deal
• Positive Sentiment: Evercore raised its price target to $240 and reaffirmed an outperform rating — adds institutional validation and creates upside potential relative to the prior consensus. Evercore raises price target
• Positive Sentiment: Zacks upgraded DELL from Hold to Strong Buy — another near-term buy signal that can help attract momentum traders and retail flows. Zacks upgrade
• Positive Sentiment: Analysts and coverage pieces highlight massive AI server exposure (reported ~$64B in AI server orders and ~$43B backlog) — supports consensus that Dell is a key beneficiary of the AI infrastructure cycle. Dell vs Apple AI coverage
• Neutral Sentiment: Performance/sector comparisons and valuation pieces note strong short‑term momentum (large recent share gains and improved revenue/earnings profile) but also raise questions about premium valuation after the rally. Useful context for longer‑term positioning rather than immediate catalysts. Assessing Dell valuation
• Neutral Sentiment: Articles comparing DELL to peers note outperformance year‑to‑date, which explains part of the momentum but also increases sensitivity to any negative news flow. DELL outperforming peers
• Negative Sentiment: Yesterday’s intraday pullback and reporting of a small decline highlight volatility after the rally — profit‑taking or rotation could pressure the stock if new orders or guidance slow. Dell dips more than market
• Negative Sentiment: Uncertainty from M&A speculation in the PC/server space (NVIDIA/HP reports) could re‑rate competitive dynamics — a large consolidation elsewhere might shift OEM bargaining power or alter partner relationships. Potential NVIDIA deal

Analyst Ratings Changes

DELL has been the subject of a number of research analyst reports. Bank of America upped their price objective on shares of Dell Technologies from $172.00 to $205.00 and gave the stock a "buy" rating in a research report on Wednesday, April 8th. Morgan Stanley upped their price objective on shares of Dell Technologies from $101.00 to $110.00 and gave the stock an "underweight" rating in a research report on Friday, February 27th. Daiwa Securities Group upped their price objective on shares of Dell Technologies from $150.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, March 6th. Evercore upped their price objective on shares of Dell Technologies from $205.00 to $240.00 and gave the stock an "outperform" rating in a research report on Wednesday. Finally, Wall Street Zen upgraded shares of Dell Technologies from a "buy" rating to a "strong-buy" rating in a research report on Saturday, March 21st. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $181.53.

About Dell Technologies

Dell Technologies Inc is a multinational technology company that designs, manufactures and sells a broad range of information technology products, solutions and services. Its offerings span client computing devices (consumer and commercial laptops and desktops), enterprise infrastructure (servers, storage systems and networking equipment), software and cloud infrastructure, and a variety of professional services such as IT consulting, deployment, managed services and financing solutions. The company serves organizations of all sizes as well as individual consumers, with products and services aimed at enabling digital transformation and modern IT environments.

Founded by Michael Dell in 1984, the company grew from a direct-to-consumer PC business into a diversified IT provider through organic expansion and strategic acquisitions.

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