Magnetar Financial LLC Makes New $2.72 Million Investment in Dell Technologies Inc. (NYSE:DELL)

Magnetar Financial LLC acquired a new position in Dell Technologies Inc. (NYSE:DELL) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 19,703 shares of the technology company’s stock, valued at approximately $2,717,000.

A number of other hedge funds have also recently added to or reduced their stakes in DELL. Jones Financial Companies Lllp acquired a new position in shares of Dell Technologies during the fourth quarter valued at $25,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Dell Technologies by 58.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 223 shares of the technology company’s stock valued at $25,000 after acquiring an additional 82 shares during the period. Accordant Advisory Group Inc acquired a new position in shares of Dell Technologies during the second quarter valued at $28,000. New Covenant Trust Company N.A. acquired a new position in shares of Dell Technologies during the first quarter valued at $30,000. Finally, Central Bank & Trust Co. acquired a new position in shares of Dell Technologies during the first quarter valued at $34,000. Institutional investors and hedge funds own 38.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on DELL. Raymond James reduced their price target on shares of Dell Technologies from $166.00 to $160.00 and set an “outperform” rating for the company in a report on Friday, August 30th. Citigroup upped their price objective on shares of Dell Technologies from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, August 30th. TD Cowen reduced their price objective on shares of Dell Technologies from $155.00 to $128.00 and set a “hold” rating for the company in a report on Friday, August 30th. UBS Group reduced their price objective on shares of Dell Technologies from $164.00 to $158.00 and set a “buy” rating for the company in a report on Friday, August 30th. Finally, Fox Advisors upgraded shares of Dell Technologies from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 30th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Dell Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $139.19.

Insider Transactions at Dell Technologies

In other news, Director V (Gp) L.L.C. Slta sold 1,000,000 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $144.68, for a total transaction of $144,680,000.00. Following the transaction, the director now owns 770,369 shares in the company, valued at approximately $111,456,986.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CMO Jane Tunnell sold 3,624 shares of Dell Technologies stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $145.98, for a total transaction of $529,031.52. Following the sale, the chief marketing officer now directly owns 89,294 shares in the company, valued at approximately $13,035,138.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director V (Gp) L.L.C. Slta sold 1,000,000 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $144.68, for a total transaction of $144,680,000.00. Following the completion of the transaction, the director now owns 770,369 shares in the company, valued at $111,456,986.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,964,452 shares of company stock worth $1,036,599,778. 46.70% of the stock is currently owned by company insiders.

Dell Technologies Stock Performance

Shares of NYSE DELL opened at $117.55 on Tuesday. The stock has a market cap of $83.38 billion, a price-to-earnings ratio of 23.99, a PEG ratio of 1.15 and a beta of 0.90. The business has a 50 day simple moving average of $110.91 and a 200 day simple moving average of $124.33. Dell Technologies Inc. has a 52 week low of $63.90 and a 52 week high of $179.70.

Dell Technologies (NYSE:DELL) last announced its earnings results on Thursday, August 29th. The technology company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The firm had revenue of $25.03 billion for the quarter, compared to the consensus estimate of $24.14 billion. Dell Technologies had a net margin of 4.32% and a negative return on equity of 178.09%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.44 EPS. On average, analysts predict that Dell Technologies Inc. will post 6.9 EPS for the current year.

Dell Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 22nd will be issued a dividend of $0.445 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $1.78 annualized dividend and a dividend yield of 1.51%. Dell Technologies’s payout ratio is 36.33%.

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).