Alpine Associates Management Inc. Invests $90.10 Million in Dell Technologies Inc (DVMT)
Alpine Associates Management Inc. acquired a new stake in shares of Dell Technologies Inc (NYSE:DVMT) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 960,065 shares of the company’s stock, valued at approximately $90,101,000. Dell Technologies comprises about 2.8% of Alpine Associates Management Inc.’s investment portfolio, making the stock its 15th largest position. Alpine Associates Management Inc. owned 0.12% of Dell Technologies as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Third Point LLC bought a new position in shares of Dell Technologies during the 2nd quarter valued at about $169,160,000. Gabelli Funds LLC boosted its holdings in shares of Dell Technologies by 6.0% during the 2nd quarter. Gabelli Funds LLC now owns 108,971 shares of the company’s stock valued at $9,217,000 after purchasing an additional 6,200 shares during the last quarter. NumerixS Investment Technologies Inc bought a new position in shares of Dell Technologies during the 2nd quarter valued at about $460,000. Federated Investors Inc. PA boosted its holdings in shares of Dell Technologies by 59.7% during the 2nd quarter. Federated Investors Inc. PA now owns 16,633 shares of the company’s stock valued at $1,406,000 after purchasing an additional 6,215 shares during the last quarter. Finally, Ferris Capital LLC boosted its holdings in shares of Dell Technologies by 670.9% during the 2nd quarter. Ferris Capital LLC now owns 4,471 shares of the company’s stock valued at $378,000 after purchasing an additional 3,891 shares during the last quarter. 23.34% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:DVMT opened at $96.63 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.93 and a debt-to-equity ratio of 2.64. Dell Technologies Inc has a 12 month low of $64.96 and a 12 month high of $96.94. The stock has a market capitalization of $73.41 billion, a P/E ratio of 15.66 and a beta of -0.17.
Several research firms have commented on DVMT. ValuEngine raised shares of Dell Technologies from a “hold” rating to a “buy” rating in a report on Thursday, July 12th. Zacks Investment Research raised shares of Dell Technologies from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a report on Wednesday, July 4th. Wells Fargo & Co reissued an “outperform” rating and set a $105.00 price objective on shares of Dell Technologies in a report on Tuesday, July 3rd. Finally, Deutsche Bank increased their price objective on shares of Dell Technologies from $114.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, June 5th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $108.50.
About Dell Technologies
Dell Technologies Inc designs, develops, manufactures, markets, sells, and supports information technology (IT) products and services worldwide. It operates through three segments: Client Solutions Group (CSG), Infrastructure Solutions Group (ISG), and VMware. The CSG segment offers hardware, such as desktop personal computers, notebooks, and workstations; and branded peripherals, including monitors and projectors; third-party software and peripherals; and attached software, peripherals, and services comprising support and deployment, configuration, and extended warranty services.
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