Carnegie Investment Counsel Invests $226,000 in Dell Technologies Inc. $DELL

Carnegie Investment Counsel purchased a new position in shares of Dell Technologies Inc. (NYSE:DELL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,841 shares of the technology company’s stock, valued at approximately $226,000.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake 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 acquiring an additional 1,145,658 shares in the last quarter. Boston Partners raised its position in shares of Dell Technologies by 34.4% during the 1st quarter. Boston Partners now owns 5,132,877 shares of the technology company’s stock worth $466,418,000 after purchasing an additional 1,312,600 shares during the last quarter. Deutsche Bank AG raised its position in shares of 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 during the last quarter. Alkeon Capital Management LLC raised its position in shares of Dell Technologies by 41.4% during the 1st quarter. Alkeon Capital Management LLC now owns 3,177,809 shares of the technology company’s stock worth $289,657,000 after purchasing an additional 931,032 shares during the last quarter. Finally, Invesco Ltd. raised its position in shares of Dell Technologies by 20.5% during the 1st quarter. Invesco Ltd. now owns 2,952,829 shares of the technology company’s stock worth $269,150,000 after purchasing an additional 502,764 shares during the last quarter. Hedge funds and other institutional investors own 76.37% of the company’s stock.

Dell Technologies Stock Up 2.9%

Shares of NYSE DELL opened at $158.67 on Monday. Dell Technologies Inc. has a 52-week low of $66.25 and a 52-week high of $166.10. The firm has a fifty day moving average of $137.17 and a 200-day moving average of $121.95. The stock has a market capitalization of $106.68 billion, a PE ratio of 23.33, a P/E/G ratio of 1.08 and a beta of 1.05.

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

Dell Technologies Dividend Announcement

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 given 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 is 30.88%.

Insider Activity

In related news, Director Iv (Gp) L.L.C. Slta sold 499,999 shares of the company’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $161.48, for a total transaction of $80,739,838.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director V (Gp) L.L.C. Slta sold 19,256 shares of the company’s stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $154.21, for a total transaction of $2,969,467.76. The disclosure for this sale can be found here. Insiders sold 4,617,755 shares of company stock worth $653,694,973 in the last quarter. Insiders own 42.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on DELL shares. Mizuho lifted their price objective on Dell Technologies from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Barclays lifted their price objective on Dell Technologies from $133.00 to $151.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. UBS Group boosted their price target on Dell Technologies from $155.00 to $186.00 and gave the company a “buy” rating in a report on Wednesday, October 8th. Evercore ISI boosted their price target on Dell Technologies from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, August 15th. Finally, Wall Street Zen upgraded Dell Technologies from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dell Technologies has an average rating of “Moderate Buy” and an average target price of $161.80.

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).