Viking Fund Management LLC Invests $5.19 Million in Dell Technologies Inc. (NYSE:DELL)

Viking Fund Management LLC purchased a new position in Dell Technologies Inc. (NYSE:DELL) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 45,000 shares of the technology company’s stock, valued at approximately $5,186,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. State Street Corp boosted its stake 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 purchasing an additional 6,131,507 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of 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 worth $746,596,000 after acquiring an additional 2,641,456 shares during the last quarter. International Assets Investment Management LLC raised its holdings in Dell Technologies by 19,376.1% in the third quarter. International Assets Investment Management LLC now owns 2,427,699 shares of the technology company’s stock worth $287,779,000 after buying an additional 2,415,234 shares during the last quarter. Alkeon Capital Management LLC raised its holdings 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 acquiring an additional 699,204 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Dell Technologies by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,725,473 shares of the technology company’s stock valued at $204,538,000 after purchasing an additional 29,717 shares in the last quarter. Hedge funds and other institutional investors own 76.37% of the company’s stock.

Dell Technologies Price Performance

DELL stock opened at $111.59 on Wednesday. The company has a market capitalization of $78.17 billion, a price-to-earnings ratio of 19.72, a PEG ratio of 1.16 and a beta of 0.92. Dell Technologies Inc. has a 1-year low of $80.49 and a 1-year high of $179.70. The business has a 50 day simple moving average of $122.42 and a two-hundred day simple moving average of $119.90.

Dell Technologies (NYSE:DELL) last posted its earnings results on Tuesday, November 26th. The technology company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.32. The company had revenue of $24.37 billion during the quarter, compared to analysts’ expectations of $24.67 billion. Dell Technologies had a net margin of 4.36% and a negative return on equity of 191.91%. Dell Technologies’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the company posted $1.62 earnings per share. Sell-side analysts anticipate that Dell Technologies Inc. will post 6.92 EPS for the current fiscal year.

Dell Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Wednesday, January 22nd will be paid a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Wednesday, January 22nd. Dell Technologies’s payout ratio is presently 31.45%.

Insider Buying and Selling at Dell Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the stock in a transaction dated 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 completion of 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Yvonne Mcgill sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $143.24, for a total value of $1,145,920.00. Following the sale, the chief financial officer now directly owns 236,419 shares in the company, valued at $33,864,657.56. The trade was a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 945,407 shares of company stock worth $115,573,009 in the last quarter. 46.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Dell Technologies from $106.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Mizuho cut their price target on Dell Technologies from $155.00 to $150.00 and set an “outperform” rating for the company in a research note on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Dell Technologies from $144.00 to $142.00 and set a “buy” rating on the stock in a research note on Monday, December 2nd. Citigroup reduced their target price on shares of Dell Technologies from $160.00 to $156.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Finally, Wells Fargo & Company lifted their price target on shares of Dell Technologies from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.06.

Dell Technologies 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).