WASHINGTON TRUST Co Acquires 87,309 Shares of Dell Technologies Inc. $DELL

WASHINGTON TRUST Co lifted its stake in Dell Technologies Inc. (NYSE:DELL) by 11,037.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 88,100 shares of the technology company’s stock after buying an additional 87,309 shares during the quarter. WASHINGTON TRUST Co’s holdings in Dell Technologies were worth $10,801,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. RWA Wealth Partners LLC grew its holdings in shares of Dell Technologies by 1.0% during the second quarter. RWA Wealth Partners LLC now owns 8,953 shares of the technology company’s stock valued at $1,098,000 after buying an additional 88 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in shares of Dell Technologies by 3.1% in the first quarter. Summit Investment Advisors Inc. now owns 3,004 shares of the technology company’s stock valued at $274,000 after acquiring an additional 90 shares in the last quarter. Tradewinds Capital Management LLC raised its stake in Dell Technologies by 4.9% during the 2nd quarter. Tradewinds Capital Management LLC now owns 2,130 shares of the technology company’s stock valued at $261,000 after purchasing an additional 100 shares during the period. Westside Investment Management Inc. increased its holdings in shares of Dell Technologies by 84.7% in the second quarter. Westside Investment Management Inc. now owns 218 shares of the technology company’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Finally, Cary Street Partners Financial LLC lifted its stake in shares of Dell Technologies by 2.7% in the 1st quarter. Cary Street Partners Financial LLC now owns 4,335 shares of the technology company’s stock valued at $395,000 after purchasing an additional 116 shares during the last quarter. 76.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

DELL has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Dell Technologies from $145.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dell Technologies in a research report on Wednesday, October 8th. Evercore ISI set a $180.00 price target on Dell Technologies and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Mizuho boosted their price target on Dell Technologies from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Dell Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.80.

Insider Activity

In other news, Director Ellen Jamison Kullman sold 79,806 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $153.56, for a total transaction of $12,255,009.36. Following the sale, the director owned 65,662 shares of the company’s stock, valued at approximately $10,083,056.72. This represents a 54.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director V (Gp) L.L.C. Slta sold 19,256 shares of Dell Technologies stock in a transaction that occurred 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 is available in the SEC filing. Insiders sold 4,537,755 shares of company stock worth $642,644,973 over the last 90 days. Company insiders own 42.00% of the company’s stock.

Dell Technologies Stock Performance

Shares of NYSE DELL traded down $3.14 during trading on Thursday, hitting $137.57. 774,140 shares of the company were exchanged, compared to its average volume of 7,106,013. The company has a fifty day moving average price of $143.56 and a 200-day moving average price of $128.14. Dell Technologies Inc. has a 12-month low of $66.25 and a 12-month high of $168.08. The firm has a market capitalization of $92.50 billion, a PE ratio of 20.32, a P/E/G ratio of 0.95 and a beta of 1.02.

Dell Technologies (NYSE:DELL) last released its quarterly earnings data on Thursday, October 5th. The technology company reported $1.68 EPS for the quarter. The firm 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. Research analysts anticipate 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 was paid on Friday, October 31st. Stockholders of record on Tuesday, October 21st were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, October 21st. Dell Technologies’s dividend payout ratio is currently 30.88%.

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).