Fred Alger Management LLC Sells 564,278 Shares of Dell Technologies Inc. (NYSE:DELL)

Fred Alger Management LLC lowered its holdings in Dell Technologies Inc. (NYSE:DELL - Free Report) by 93.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,054 shares of the technology company's stock after selling 564,278 shares during the quarter. Fred Alger Management LLC's holdings in Dell Technologies were worth $4,731,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Dell Technologies in the fourth quarter valued at $455,029,000. Vanguard Group Inc. increased its holdings in Dell Technologies by 10.5% in the 4th quarter. Vanguard Group Inc. now owns 27,960,560 shares of the technology company's stock valued at $3,222,175,000 after buying an additional 2,662,407 shares during the period. Swedbank AB raised its stake in shares of Dell Technologies by 803.6% in the 4th quarter. Swedbank AB now owns 1,901,112 shares of the technology company's stock valued at $219,084,000 after buying an additional 1,690,709 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings 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 acquiring an additional 1,139,318 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Dell Technologies by 224.4% during the 4th quarter. Ameriprise Financial Inc. now owns 1,564,196 shares of the technology company's stock valued at $180,257,000 after acquiring an additional 1,082,087 shares in the last quarter. 76.37% of the stock is owned by institutional investors.

Dell Technologies Price Performance

NYSE:DELL traded up $4.43 during trading hours on Tuesday, reaching $107.85. 7,052,611 shares of the stock were exchanged, compared to its average volume of 10,428,847. Dell Technologies Inc. has a twelve month low of $66.25 and a twelve month high of $179.70. The stock has a market cap of $75.26 billion, a PE ratio of 19.05, a PEG ratio of 1.10 and a beta of 0.99. The firm has a 50 day moving average of $90.28 and a 200 day moving average of $108.79.

Dell Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Tuesday, April 22nd were issued a $0.525 dividend. This is a boost from Dell Technologies's previous quarterly dividend of $0.45. The ex-dividend date was Tuesday, April 22nd. This represents a $2.10 annualized dividend and a dividend yield of 1.95%. Dell Technologies's dividend payout ratio (DPR) is presently 33.76%.

Insider Activity at Dell Technologies

In other news, CAO Brunilda Rios sold 926 shares of the company's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $93.29, for a total transaction of $86,386.54. Following the sale, the chief accounting officer now owns 37,948 shares in the company, valued at $3,540,168.92. This represents a 2.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 46.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. UBS Group cut their price target on shares of Dell Technologies from $158.00 to $150.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Loop Capital cut their target price on Dell Technologies from $185.00 to $130.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Raymond James boosted their price target on Dell Technologies from $139.00 to $144.00 and gave the company an "outperform" rating in a research note on Tuesday. Morgan Stanley dropped their price objective on Dell Technologies from $154.00 to $128.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Finally, OTR Global raised Dell Technologies from a "negative" rating to a "positive" rating in a report on Wednesday, February 12th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $133.71.

Dell Technologies Company 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).