Castleark Management LLC Invests $7.33 Million in Dell Technologies Inc. (NYSE:DELL)

Castleark Management LLC bought a new position in shares of Dell Technologies Inc. (NYSE:DELL) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 63,610 shares of the technology company’s stock, valued at approximately $7,330,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DELL. Bellwether Advisors LLC purchased a new stake in shares of Dell Technologies during the 4th quarter worth approximately $25,000. Vision Financial Markets LLC acquired a new stake in Dell Technologies during the 4th quarter worth $26,000. Lee Danner & Bass Inc. purchased a new stake in Dell Technologies in the fourth quarter valued at $26,000. Byrne Asset Management LLC acquired a new position in Dell Technologies in the fourth quarter valued at $28,000. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Dell Technologies during the fourth quarter worth about $37,000. 76.37% of the stock is owned by institutional investors and hedge funds.

Dell Technologies Stock Performance

DELL opened at $114.13 on Wednesday. The company has a market cap of $79.64 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.10 and a beta of 0.99. Dell Technologies Inc. has a one year low of $66.25 and a one year high of $179.70. The business’s fifty day moving average is $92.65 and its two-hundred day moving average is $108.35.

Dell Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Tuesday, April 22nd were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend was Tuesday, April 22nd. This is an increase from Dell Technologies’s previous quarterly dividend of $0.45. Dell Technologies’s payout ratio is 33.76%.

Analyst Ratings Changes

DELL has been the subject of several research reports. UBS Group reduced their target price on Dell Technologies from $158.00 to $150.00 and set a “buy” rating for the company in a report on Friday, February 28th. TD Cowen reduced their price objective on Dell Technologies from $128.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, February 28th. Mizuho raised their target price on shares of Dell Technologies from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday. Raymond James upped their price target on shares of Dell Technologies from $139.00 to $144.00 and gave the company an “outperform” rating in a research report on Tuesday, May 13th. Finally, Bank of America decreased their price target on shares of Dell Technologies from $155.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Dell Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $134.76.

Insider Buying and Selling

In other news, CAO Brunilda Rios sold 926 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $93.29, for a total transaction of $86,386.54. Following the completion of the transaction, the chief accounting officer now directly owns 37,948 shares of the company’s stock, valued at $3,540,168.92. This trade represents a 2.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Yvonne Mcgill sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $110.80, for a total value of $886,400.00. Following the completion of the sale, the chief financial officer now directly owns 245,804 shares in the company, valued at approximately $27,235,083.20. The trade was a 3.15% decrease in their position. The disclosure for this sale can be found here. Insiders own 46.70% of the company’s stock.

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).