1858 Wealth Management LLC Boosts Stock Position in Dell Technologies Inc. $DELL

1858 Wealth Management LLC lifted its position in shares of Dell Technologies Inc. (NYSE:DELL) by 53.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,577 shares of the technology company’s stock after purchasing an additional 1,603 shares during the period. 1858 Wealth Management LLC’s holdings in Dell Technologies were worth $561,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of DELL. Cary Street Partners Financial LLC increased its position in Dell Technologies by 2.7% during the 1st quarter. Cary Street Partners Financial LLC now owns 4,335 shares of the technology company’s stock valued at $395,000 after purchasing an additional 116 shares during the period. Blue Trust Inc. grew its position in shares of Dell Technologies by 16.4% in the 2nd quarter. Blue Trust Inc. now owns 882 shares of the technology company’s stock worth $108,000 after buying an additional 124 shares during the period. OneAscent Financial Services LLC grew its position in shares of Dell Technologies by 3.4% in the 1st quarter. OneAscent Financial Services LLC now owns 3,778 shares of the technology company’s stock worth $345,000 after buying an additional 125 shares during the period. MRP Capital Investments LLC grew its position in shares of Dell Technologies by 0.8% in the 1st quarter. MRP Capital Investments LLC now owns 14,975 shares of the technology company’s stock worth $1,365,000 after buying an additional 125 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. grew its position in shares of Dell Technologies by 1.2% in the 2nd quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 10,762 shares of the technology company’s stock worth $1,319,000 after buying an additional 125 shares during the period. 76.37% of the stock is currently owned by hedge funds and other institutional investors.

Dell Technologies Stock Down 3.4%

Shares of NYSE:DELL opened at $150.67 on Friday. The firm’s 50 day moving average price is $133.98 and its 200-day moving average price is $116.97. The stock has a market capitalization of $101.31 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 1.03 and a beta of 1.05. Dell Technologies Inc. has a twelve month low of $66.25 and a twelve month high of $166.10.

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

Dell Technologies Announces Dividend

The company 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 1.4%. The ex-dividend date of this dividend is Tuesday, October 21st. Dell Technologies’s dividend payout ratio is currently 30.88%.

Insider Buying and Selling

In related news, Director William D. Green sold 42,736 shares of the stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $160.00, for a total value of $6,837,760.00. Following the completion of the sale, the director directly owned 47,619 shares of the company’s stock, valued at approximately $7,619,040. This represents a 47.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director V (Gp) L.L.C. Slta sold 19,256 shares of the stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $154.21, for a total transaction of $2,969,467.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,734,418 shares of company stock valued at $666,089,211. 42.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DELL shares. Argus upped their target price on shares of Dell Technologies from $150.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday. UBS Group upped their target price on shares of Dell Technologies from $155.00 to $186.00 and gave the stock a “buy” rating in a research report on Wednesday. Fox Advisors downgraded shares of Dell Technologies from an “overweight” rating to an “equal weight” rating in a research report on Friday, August 29th. Bank of America increased their price objective on shares of Dell Technologies from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Dell Technologies from $145.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday. Seventeen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $160.53.

About Dell Technologies

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).