Dell Technologies Inc. $DELL Stock Position Lifted by Bleakley Financial Group LLC

Bleakley Financial Group LLC increased its position in Dell Technologies Inc. (NYSE:DELL) by 18.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,193 shares of the technology company’s stock after buying an additional 1,894 shares during the quarter. Bleakley Financial Group LLC’s holdings in Dell Technologies were worth $1,495,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of DELL. Central Pacific Bank Trust Division acquired a new position in Dell Technologies during the second quarter valued at $29,000. Smallwood Wealth Investment Management LLC acquired a new position in Dell Technologies in the 1st quarter worth about $25,000. N.E.W. Advisory Services LLC acquired a new position in shares of Dell Technologies during the 1st quarter valued at about $26,000. Cheviot Value Management LLC acquired a new position in shares of Dell Technologies during the 1st quarter valued at about $27,000. Finally, Flaharty Asset Management LLC acquired a new position in shares of Dell Technologies during the 1st quarter valued at about $27,000. 76.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. UBS Group increased their target price on Dell Technologies from $155.00 to $186.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Morgan Stanley raised their target price on Dell Technologies from $135.00 to $144.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. JPMorgan Chase & Co. raised their target price on Dell Technologies from $145.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. TD Cowen raised their target price on Dell Technologies from $130.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Finally, Piper Sandler initiated coverage on Dell Technologies in a research report on Tuesday. They set an “overweight” rating and a $172.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $161.80.

Insider Activity

In related news, Director William D. Green sold 42,736 shares of the firm’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $160.00, for a total transaction 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 $7,619,040. This trade represents a 47.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ellen Jamison Kullman sold 79,806 shares of Dell Technologies stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $153.56, for a total value of $12,255,009.36. Following the completion of the sale, the director directly owned 65,662 shares of the company’s stock, valued at $10,083,056.72. This trade represents a 54.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,617,755 shares of company stock worth $653,694,973. 42.00% of the stock is currently owned by insiders.

Dell Technologies Price Performance

DELL stock opened at $158.67 on Friday. The business has a fifty day moving average price of $137.17 and a 200 day moving average price of $121.35. Dell Technologies Inc. has a fifty-two week low of $66.25 and a fifty-two week high of $166.10. The stock has a market capitalization of $106.68 billion, a price-to-earnings ratio of 23.33, a P/E/G ratio of 1.05 and a beta of 1.05.

Dell Technologies (NYSE:DELL) last released its quarterly earnings results 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. On average, equities analysts expect that Dell Technologies Inc. will post 6.93 earnings per share for the current fiscal year.

Dell Technologies Announces Dividend

The firm 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 dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, October 21st. Dell Technologies’s dividend payout ratio (DPR) is currently 30.88%.

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).