Allianz Asset Management GmbH Sells 40,529 Shares of Dell Technologies Inc. $DELL

Allianz Asset Management GmbH lessened its position in shares of Dell Technologies Inc. (NYSE:DELL) by 21.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 150,915 shares of the technology company’s stock after selling 40,529 shares during the period. Allianz Asset Management GmbH’s holdings in Dell Technologies were worth $18,502,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Cary Street Partners Financial LLC boosted its stake in shares of Dell Technologies by 2.7% in the first quarter. Cary Street Partners Financial LLC now owns 4,335 shares of the technology company’s stock valued at $395,000 after buying an additional 116 shares during the period. Blue Trust Inc. boosted its stake in shares of Dell Technologies by 16.4% in the second quarter. Blue Trust Inc. now owns 882 shares of the technology company’s stock valued at $108,000 after buying an additional 124 shares during the period. OneAscent Financial Services LLC raised its position in Dell Technologies by 3.4% during the first quarter. OneAscent Financial Services LLC now owns 3,778 shares of the technology company’s stock valued at $345,000 after purchasing an additional 125 shares in the last quarter. MRP Capital Investments LLC raised its position in Dell Technologies by 0.8% during the first quarter. MRP Capital Investments LLC now owns 14,975 shares of the technology company’s stock valued at $1,365,000 after purchasing an additional 125 shares in the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. raised its position in Dell Technologies by 1.2% during the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 10,762 shares of the technology company’s stock valued at $1,319,000 after purchasing an additional 125 shares in the last quarter. Institutional investors own 76.37% of the company’s stock.

Dell Technologies Trading Down 1.1%

Shares of DELL opened at $149.57 on Monday. The stock has a market capitalization of $100.57 billion, a P/E ratio of 22.00, a price-to-earnings-growth ratio of 1.02 and a beta of 1.05. The firm’s fifty day simple moving average is $135.90 and its two-hundred day simple moving average is $119.26. Dell Technologies Inc. has a 12 month low of $66.25 and a 12 month high of $166.10.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings results on Thursday, October 5th. The technology company reported $1.68 EPS for the quarter. The business had revenue of $26.43 billion for 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, research analysts predict that Dell Technologies Inc. will post 6.93 EPS for the current fiscal year.

Dell Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders 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 yield of 1.4%. Dell Technologies’s dividend payout ratio is 30.88%.

Wall Street Analyst Weigh In

DELL has been the subject of several research analyst reports. Sanford C. Bernstein boosted their price objective on shares of Dell Technologies from $175.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, October 8th. Bank of America upped their price target on shares of Dell Technologies from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Morgan Stanley upped their price target on shares of Dell Technologies from $135.00 to $144.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Argus increased their price objective on Dell Technologies from $150.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 9th. Finally, Susquehanna increased their price objective on Dell Technologies from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $160.79.

Insider Buying and Selling at Dell Technologies

In other news, Director Iv (Gp) L.L.C. Slta sold 499,999 shares of the firm’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $161.48, for a total value of $80,739,838.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director V (Gp) L.L.C. Slta sold 19,256 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $154.21, for a total value of $2,969,467.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,617,755 shares of company stock valued at $653,694,973. 42.00% of the stock is owned by corporate insiders.

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).