Chevy Chase Trust Holdings LLC Sells 5,358 Shares of Dell Technologies Inc. $DELL

Chevy Chase Trust Holdings LLC reduced its stake in Dell Technologies Inc. (NYSE:DELL) by 3.3% during the second quarter, Holdings Channel.com reports. The fund owned 159,257 shares of the technology company’s stock after selling 5,358 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Dell Technologies were worth $19,525,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Smallwood Wealth Investment Management LLC bought a new position in shares of Dell Technologies during the first quarter valued at approximately $25,000. N.E.W. Advisory Services LLC bought a new position in shares of Dell Technologies during the first quarter valued at approximately $26,000. Cheviot Value Management LLC bought a new position in shares of Dell Technologies during the first quarter valued at approximately $27,000. Flaharty Asset Management LLC bought a new position in shares of Dell Technologies during the first quarter valued at approximately $27,000. Finally, Cullen Frost Bankers Inc. boosted 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 purchasing an additional 222 shares in the last quarter. 76.37% of the stock is currently owned by institutional investors.

Dell Technologies Trading Down 1.1%

NYSE DELL opened at $149.57 on Friday. The company has a fifty day simple moving average of $135.90 and a two-hundred day simple moving average of $118.97. The stock has a market cap of $100.57 billion, a P/E ratio of 22.00, a P/E/G ratio of 1.02 and a beta of 1.05. Dell Technologies Inc. has a 12-month low of $66.25 and a 12-month high of $166.10.

Dell Technologies (NYSE:DELL) last posted 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 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. As a group, sell-side analysts forecast that Dell Technologies Inc. will post 6.93 earnings per share for the current year.

Dell Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, October 21st will be issued a $0.525 dividend. 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 (DPR) is currently 30.88%.

Insider Buying and Selling at Dell Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of the firm’s stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $135.98, for a total transaction of $112,183,364.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director V (Gp) L.L.C. Slta sold 565,000 shares of the firm’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $132.32, for a total transaction of $74,760,800.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,617,755 shares of company stock valued at $653,694,973. 42.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DELL. Cowen reiterated a “hold” rating on shares of Dell Technologies in a research note on Friday, August 29th. Wells Fargo & Company raised their target price on shares of Dell Technologies from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. The Goldman Sachs Group raised their target price on shares of Dell Technologies from $155.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Morgan Stanley raised their target price on shares of Dell Technologies from $135.00 to $144.00 and gave the company an “overweight” rating in a research note on Thursday, August 21st. Finally, Fox Advisors downgraded shares of Dell Technologies from an “overweight” rating to an “equal weight” rating in a research note on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock 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).