DekaBank Deutsche Girozentrale Buys 14,956 Shares of Dell Technologies Inc. $DELL

DekaBank Deutsche Girozentrale lifted its stake in Dell Technologies Inc. (NYSE:DELL) by 0.7% during the second quarter, Holdings Channel reports. The fund owned 2,239,931 shares of the technology company’s stock after acquiring an additional 14,956 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Dell Technologies were worth $276,040,000 as of its most recent filing with the SEC.

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

Dell Technologies Trading Down 1.1%

Shares of NYSE:DELL opened at $147.91 on Tuesday. Dell Technologies Inc. has a 1-year low of $66.25 and a 1-year high of $166.10. The firm has a market capitalization of $99.45 billion, a PE ratio of 21.75, a PEG ratio of 1.02 and a beta of 1.05. The business’s 50 day moving average is $136.10 and its 200-day moving average is $119.80.

Dell Technologies (NYSE:DELL) last announced 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 negative return on equity of 236.21% and a net margin of 4.73%. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. On average, sell-side analysts predict that Dell Technologies Inc. will post 6.93 EPS for the current year.

Dell Technologies Announces Dividend

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 paid 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 payout ratio is currently 30.88%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DELL. Wells Fargo & Company lifted their price target on Dell Technologies from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Raymond James Financial lifted their price target on Dell Technologies from $150.00 to $152.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. UBS Group lifted their price target on Dell Technologies from $155.00 to $186.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Citigroup lifted their price target on Dell Technologies from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Finally, Sanford C. Bernstein lifted their price target on Dell Technologies from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $160.79.

Insiders Place Their Bets

In related news, Director William D. Green sold 42,736 shares of the business’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $160.00, for a total value of $6,837,760.00. Following the sale, the director owned 47,619 shares of the company’s stock, valued at $7,619,040. The trade was a 47.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director V (Gp) L.L.C. Slta sold 19,256 shares of the business’s stock in a transaction on 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. Insiders have sold 4,617,755 shares of company stock worth $653,694,973 over the last quarter. Corporate insiders own 42.00% of the company’s stock.

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).