Cornercap Investment Counsel Inc. Decreases Stake in Dell Technologies Inc. (NYSE:DELL)

Cornercap Investment Counsel Inc. lowered its holdings in Dell Technologies Inc. (NYSE:DELL) by 3.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 6,016 shares of the technology company’s stock after selling 230 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Dell Technologies were worth $693,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in DELL. Vanguard Group Inc. lifted its stake in shares of Dell Technologies by 10.5% in the fourth quarter. Vanguard Group Inc. now owns 27,960,560 shares of the technology company’s stock valued at $3,222,175,000 after purchasing an additional 2,662,407 shares during the period. State Street Corp lifted its position in shares of Dell Technologies by 92.4% during the 3rd quarter. State Street Corp now owns 12,767,011 shares of the technology company’s stock valued at $1,513,401,000 after acquiring an additional 6,131,507 shares during the period. Geode Capital Management LLC boosted its stake in shares of Dell Technologies by 71.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,317,829 shares of the technology company’s stock worth $746,596,000 after acquiring an additional 2,641,456 shares in the last quarter. Norges Bank acquired a new stake in shares of Dell Technologies in the 4th quarter worth approximately $455,029,000. Finally, Bank of New York Mellon Corp increased its stake in Dell Technologies by 63.6% in the 4th quarter. Bank of New York Mellon Corp now owns 2,931,240 shares of the technology company’s stock valued at $337,796,000 after purchasing an additional 1,139,318 shares in the last quarter. 76.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on DELL. The Goldman Sachs Group lowered 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. Citigroup dropped their target price on shares of Dell Technologies from $156.00 to $145.00 and set a “buy” rating for the company in a report on Friday, February 21st. UBS Group reduced their price target on shares of Dell Technologies from $158.00 to $150.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Loop Capital dropped their price objective on shares of Dell Technologies from $185.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Finally, Barclays upped their target price on Dell Technologies from $115.00 to $116.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Dell Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $141.24.

Insider Transactions at Dell Technologies

In other news, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $119.73, for a total value of $59,750,657.85. Following the transaction, the director now owns 810,657 shares of the company’s stock, valued at approximately $97,059,962.61. This trade represents a 38.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Radakovich Lynn Vojvodich sold 725 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $120.00, for a total transaction of $87,000.00. Following the sale, the director now directly owns 23,680 shares of the company’s stock, valued at approximately $2,841,600. This trade represents a 2.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 824,937 shares of company stock worth $100,327,453 in the last ninety days. Insiders own 46.70% of the company’s stock.

Dell Technologies Stock Performance

DELL opened at $92.35 on Friday. Dell Technologies Inc. has a 1 year low of $86.93 and a 1 year high of $179.70. The company’s 50 day simple moving average is $104.31 and its 200 day simple moving average is $116.28. The stock has a market capitalization of $64.68 billion, a PE 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 disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Tuesday, April 22nd will be paid a dividend of $0.525 per share. 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. This represents a $2.10 annualized dividend and a dividend yield of 2.27%. Dell Technologies’s payout ratio is currently 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).