Fifth Third Wealth Advisors LLC Purchases New Position in Dell Technologies Inc. $DELL

Fifth Third Wealth Advisors LLC purchased a new stake in shares of Dell Technologies Inc. (NYSE:DELL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 3,687 shares of the technology company’s stock, valued at approximately $452,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division bought a new position in Dell Technologies during the 2nd quarter valued at about $29,000. Smallwood Wealth Investment Management LLC bought a new position in Dell Technologies during the 1st quarter valued at about $25,000. N.E.W. Advisory Services LLC bought a new position in Dell Technologies during the 1st quarter valued at about $26,000. Cheviot Value Management LLC bought a new position in shares of Dell Technologies in the first quarter worth about $27,000. Finally, Flaharty Asset Management LLC bought a new position in shares of Dell Technologies in the first quarter worth about $27,000. 76.37% of the stock is owned by institutional investors.

Dell Technologies Stock Performance

Shares of NYSE:DELL opened at $150.67 on Monday. Dell Technologies Inc. has a 52 week low of $66.25 and a 52 week high of $166.10. The company has a market capitalization of $101.31 billion, a PE ratio of 22.16, a PEG ratio of 1.03 and a beta of 1.05. The company has a 50 day moving average price of $133.98 and a two-hundred day moving average price of $117.11.

Dell Technologies (NYSE:DELL) last issued its earnings results on Thursday, October 5th. The technology company reported $1.68 EPS for the quarter. Dell Technologies had a net margin of 4.73% and a negative return on equity of 236.21%. The firm had revenue of $26.43 billion during the quarter. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. On average, sell-side analysts forecast that Dell Technologies Inc. will post 6.93 earnings per share for the current year.

Dell Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, October 21st will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, October 21st. Dell Technologies’s dividend payout ratio is presently 30.88%.

Insider Buying and Selling at Dell Technologies

In other news, Director William D. Green sold 42,736 shares of the stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $160.00, for a total transaction of $6,837,760.00. Following the completion of the sale, the director owned 47,619 shares of the company’s stock, valued at $7,619,040. This represents a 47.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 499,999 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $161.48, for a total transaction of $80,739,838.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,734,418 shares of company stock valued at $666,089,211. Corporate insiders own 42.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Fox Advisors downgraded shares of Dell Technologies from an “overweight” rating to an “equal weight” rating in a research note on Friday, August 29th. Barclays boosted their target price on shares of Dell Technologies from $133.00 to $151.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Evercore ISI boosted their target price on shares of Dell Technologies from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, August 15th. Bank of America boosted their target price on shares of Dell Technologies from $167.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Finally, Raymond James Financial boosted their price target on shares of Dell Technologies from $150.00 to $152.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. Seventeen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $160.79.

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).