NEOS Investment Management LLC Buys New Position in Dell Technologies Inc. (NYSE:DELL)

NEOS Investment Management LLC purchased a new position in shares of Dell Technologies Inc. (NYSE:DELL) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 15,317 shares of the technology company’s stock, valued at approximately $1,765,000.

A number of other hedge funds and other institutional investors have also modified their holdings of DELL. Vanguard Group Inc. grew its stake 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 worth $3,222,175,000 after acquiring an additional 2,662,407 shares during the period. State Street Corp grew its position 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 increased its stake in Dell Technologies by 71.8% in the third 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. Bank of New York Mellon Corp lifted its position in Dell Technologies by 63.6% during the fourth quarter. Bank of New York Mellon Corp now owns 2,931,240 shares of the technology company’s stock worth $337,796,000 after buying an additional 1,139,318 shares during the period. Finally, Alkeon Capital Management LLC boosted its stake in Dell Technologies by 48.3% in the 3rd quarter. Alkeon Capital Management LLC now owns 2,146,777 shares of the technology company’s stock worth $254,479,000 after buying an additional 699,204 shares during the last quarter. 76.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DELL. Citigroup cut their price objective on shares of Dell Technologies from $156.00 to $145.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Barclays increased their price target on shares of Dell Technologies from $115.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. 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 report on Thursday, February 13th. The Goldman Sachs Group reduced their target price on Dell Technologies from $165.00 to $145.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, Wells Fargo & Company dropped their price target on 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 investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Dell Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $141.24.

Insider Buying and Selling

In related news, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $119.73, for a total value of $59,750,657.85. Following the completion of the sale, the director now directly owns 810,657 shares of the company’s stock, valued at $97,059,962.61. The trade was a 38.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director V (Gp) L.L.C. Slta sold 325,167 shares of the 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 directly owns 810,657 shares in the company, valued at approximately $100,943,009.64. This represents a 28.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 824,937 shares of company stock worth $100,327,453. Insiders own 46.70% of the company’s stock.

Dell Technologies Stock Performance

Shares of DELL opened at $92.35 on Friday. Dell Technologies Inc. has a one year low of $86.93 and a one year high of $179.70. The stock has a 50-day moving average price of $104.31 and a 200 day moving average price of $116.21. The company has a market capitalization of $64.68 billion, a P/E ratio of 16.32, a P/E/G 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. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.27%. This is an increase from Dell Technologies’s previous quarterly dividend of $0.45. Dell Technologies’s dividend payout ratio (DPR) is presently 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).