Nordea Investment Management AB Sells 1,207,281 Shares of Dell Technologies Inc. $DELL

Nordea Investment Management AB lowered its position in Dell Technologies Inc. (NYSE:DELL) by 89.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 146,587 shares of the technology company’s stock after selling 1,207,281 shares during the period. Nordea Investment Management AB’s holdings in Dell Technologies were worth $18,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smallwood Wealth Investment Management LLC bought a new stake in shares of Dell Technologies during the first quarter valued at approximately $25,000. N.E.W. Advisory Services LLC bought a new stake in shares of Dell Technologies during the first quarter valued at approximately $26,000. Cheviot Value Management LLC bought a new stake in shares of Dell Technologies during the first quarter valued at approximately $27,000. Flaharty Asset Management LLC bought a new stake in shares of Dell Technologies during the first quarter valued at approximately $27,000. Finally, Cullen Frost Bankers Inc. raised its stake in shares of Dell Technologies by 270.7% during the first quarter. Cullen Frost Bankers Inc. now owns 304 shares of the technology company’s stock valued at $28,000 after acquiring an additional 222 shares in the last quarter. Institutional investors own 76.37% of the company’s stock.

Dell Technologies Stock Down 1.1%

Shares of NYSE:DELL opened at $149.57 on Monday. The firm has a 50 day moving average of $135.90 and a 200 day moving average of $119.26. The company has a market capitalization of $100.57 billion, a price-to-earnings ratio of 22.00, a price-to-earnings-growth ratio of 1.02 and a beta of 1.05. Dell Technologies Inc. has a 52 week low of $66.25 and a 52 week high of $166.10.

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

Dell Technologies Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of the company’s stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $135.98, for a total transaction of $112,183,364.02. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director V (Gp) L.L.C. Slta sold 565,000 shares of the company’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $132.32, for a total value of $74,760,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,617,755 shares of company stock worth $653,694,973. Insiders own 42.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DELL. JPMorgan Chase & Co. lifted their price target on shares of Dell Technologies from $145.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. TD Cowen lifted their price target on shares of Dell Technologies from $130.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, October 8th. Daiwa Capital Markets boosted their price objective on shares of Dell Technologies from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, September 11th. KeyCorp initiated coverage on shares of Dell Technologies in a research note on Thursday, June 26th. They issued a “sector weight” rating for the company. Finally, Mizuho boosted their price objective on shares of Dell Technologies from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $160.79.

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).