JAT Capital Mgmt LP Has $25.13 Million Stock Position in Dell Technologies Inc. (NYSE:DELL)

JAT Capital Mgmt LP lifted its stake in shares of Dell Technologies Inc. (NYSE:DELL) by 371.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 212,007 shares of the technology company’s stock after purchasing an additional 167,076 shares during the quarter. Dell Technologies accounts for about 4.0% of JAT Capital Mgmt LP’s portfolio, making the stock its 11th largest position. JAT Capital Mgmt LP’s holdings in Dell Technologies were worth $25,131,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Clean Yield Group acquired a new stake in shares of Dell Technologies during the third quarter valued at about $25,000. Accordant Advisory Group Inc acquired a new stake in Dell Technologies during the 2nd quarter worth approximately $28,000. Nemes Rush Group LLC bought a new stake in Dell Technologies during the 2nd quarter worth approximately $33,000. Crewe Advisors LLC bought a new position in shares of Dell Technologies during the second quarter valued at $34,000. Finally, MCF Advisors LLC lifted its holdings in shares of Dell Technologies by 132.0% during the third quarter. MCF Advisors LLC now owns 290 shares of the technology company’s stock worth $34,000 after purchasing an additional 165 shares during the period. Institutional investors and hedge funds own 38.10% of the company’s stock.

Dell Technologies Stock Up 2.6 %

Shares of DELL opened at $127.59 on Friday. The business’s fifty day moving average is $127.41 and its 200 day moving average is $126.91. Dell Technologies Inc. has a 12-month low of $67.51 and a 12-month high of $179.70. The stock has a market cap of $89.62 billion, a P/E ratio of 22.54, a P/E/G ratio of 1.31 and a beta of 0.89.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings data on Tuesday, November 26th. The technology company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.32. Dell Technologies had a net margin of 4.36% and a negative return on equity of 184.20%. The firm had revenue of $24.37 billion during the quarter, compared to analysts’ expectations of $24.67 billion. During the same period last year, the company earned $1.62 earnings per share. The business’s revenue was up 9.5% on a year-over-year basis. On average, analysts expect that Dell Technologies Inc. will post 6.93 EPS for the current year.

Dell Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 22nd were issued a $0.445 dividend. The ex-dividend date was Tuesday, October 22nd. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.40%. Dell Technologies’s dividend payout ratio is presently 31.45%.

Wall Street Analysts Forecast Growth

DELL has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on Dell Technologies from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. TD Cowen reduced their target price on Dell Technologies from $155.00 to $128.00 and set a “hold” rating on the stock in a report on Friday, August 30th. Morgan Stanley raised their price target on shares of Dell Technologies from $136.00 to $154.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Bank of America upped their price objective on shares of Dell Technologies from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Susquehanna started coverage on shares of Dell Technologies in a report on Tuesday, September 10th. They issued a “neutral” rating and a $120.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $148.18.

Insider Activity at Dell Technologies

In related news, Director Radakovich Lynn Vojvodich sold 725 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $129.50, for a total transaction of $93,887.50. Following the transaction, the director now directly owns 23,680 shares in the company, valued at approximately $3,066,560. The trade was a 2.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael S. Dell sold 221,460 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.07, for a total transaction of $22,604,422.20. Following the completion of the sale, the chief executive officer now owns 20,190,781 shares of the company’s stock, valued at approximately $2,060,873,016.67. This trade represents a 1.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,962,112 shares of company stock valued at $2,114,595,059 over the last 90 days. Insiders own 46.70% of the company’s stock.

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).