LRI Investments LLC Increases Stock Position in Dell Technologies Inc. $DELL

LRI Investments LLC lifted its position in shares of Dell Technologies Inc. (NYSE:DELL) by 16.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 4,781 shares of the technology company’s stock after purchasing an additional 688 shares during the period. LRI Investments LLC’s holdings in Dell Technologies were worth $586,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners increased its stake in Dell Technologies by 34.4% during the first quarter. Boston Partners now owns 5,132,877 shares of the technology company’s stock worth $466,418,000 after acquiring an additional 1,312,600 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Dell Technologies by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 29,106,218 shares of the technology company’s stock worth $2,653,032,000 after purchasing an additional 1,145,658 shares during the period. Deutsche Bank AG increased its position in Dell Technologies by 38.1% during the 1st quarter. Deutsche Bank AG now owns 4,141,618 shares of the technology company’s stock worth $377,508,000 after purchasing an additional 1,142,012 shares in the last quarter. Alkeon Capital Management LLC raised its holdings in Dell Technologies by 41.4% in the first quarter. Alkeon Capital Management LLC now owns 3,177,809 shares of the technology company’s stock valued at $289,657,000 after buying an additional 931,032 shares during the period. Finally, Auto Owners Insurance Co lifted its position in Dell Technologies by 18,732.9% during the first quarter. Auto Owners Insurance Co now owns 781,000 shares of the technology company’s stock valued at $71,188,000 after buying an additional 776,853 shares in the last quarter. Institutional investors and hedge funds own 76.37% of the company’s stock.

Dell Technologies Stock Performance

Shares of NYSE DELL opened at $150.67 on Friday. Dell Technologies Inc. has a 1 year low of $66.25 and a 1 year high of $166.10. The stock’s 50-day simple moving average is $133.98 and its 200-day simple moving average is $116.97. The firm has a market cap of $101.31 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 1.03 and a beta of 1.05.

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

Dell Technologies Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, October 21st. This represents a $2.10 annualized dividend and a yield of 1.4%. Dell Technologies’s dividend payout ratio is currently 30.88%.

Insiders Place Their Bets

In other Dell Technologies 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director V (Gp) L.L.C. Slta sold 565,000 shares of the business’s stock in a transaction dated 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. Insiders have sold a total of 4,734,418 shares of company stock worth $666,089,211 over the last quarter. 42.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

DELL has been the subject of several recent research reports. Barclays increased their price objective on shares of Dell Technologies from $133.00 to $151.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Bank of America increased their price target on Dell Technologies from $167.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Sanford C. Bernstein boosted their price objective on Dell Technologies from $175.00 to $180.00 and gave the stock an “outperform” rating in a research note on Wednesday. Argus increased their target price on Dell Technologies from $150.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Dell Technologies in a report on Wednesday. Seventeen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Dell Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $160.53.

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).