Sumitomo Mitsui Trust Group Inc. Boosts Holdings in Dell Technologies Inc. $DELL

Sumitomo Mitsui Trust Group Inc. increased its position in shares of Dell Technologies Inc. (NYSE:DELL) by 1.0% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 736,458 shares of the technology company’s stock after purchasing an additional 6,947 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Dell Technologies were worth $90,290,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division acquired a new position in shares of Dell Technologies in the 2nd quarter valued at $29,000. Smallwood Wealth Investment Management LLC purchased a new stake in Dell Technologies in the 1st quarter valued at about $25,000. N.E.W. Advisory Services LLC purchased a new position in Dell Technologies during the first quarter worth about $26,000. Cheviot Value Management LLC acquired a new stake in shares of Dell Technologies during the first quarter valued at about $27,000. Finally, Flaharty Asset Management LLC acquired a new stake in shares of Dell Technologies during the first quarter valued at about $27,000. Institutional investors and hedge funds own 76.37% of the company’s stock.

Insider Buying and Selling

In other Dell Technologies news, Director Iv (Gp) L.L.C. Slta sold 499,999 shares of Dell Technologies stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $161.48, for a total transaction of $80,739,838.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ellen Jamison Kullman sold 79,806 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $153.56, for a total value of $12,255,009.36. Following the sale, the director directly owned 65,662 shares in the company, valued at $10,083,056.72. This trade represents a 54.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,617,755 shares of company stock valued at $653,694,973 over the last 90 days. 42.00% of the stock is currently owned by corporate insiders.

Dell Technologies Stock Performance

Shares of DELL opened at $158.67 on Friday. The stock has a 50-day simple moving average of $137.17 and a 200-day simple moving average of $121.69. Dell Technologies Inc. has a 1 year low of $66.25 and a 1 year high of $166.10. The stock has a market capitalization of $106.68 billion, a PE ratio of 23.33, a PEG ratio of 1.08 and a beta of 1.05.

Dell Technologies (NYSE:DELL) last issued its earnings results on Thursday, October 5th. The technology company reported $1.68 earnings per share 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 for the quarter. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. Analysts predict that Dell Technologies Inc. will post 6.93 EPS for the current year.

Dell Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, October 21st will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, October 21st. Dell Technologies’s dividend payout ratio is 30.88%.

Analyst Ratings Changes

A number of research firms recently weighed in on DELL. Wall Street Zen raised shares of Dell Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Argus raised their price target on Dell Technologies from $150.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Citigroup increased their target price on Dell Technologies from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their target price on Dell Technologies from $145.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of Dell Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $161.80.

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).