Allspring Global Investments Holdings LLC Trims Holdings in Dell Technologies Inc. $DELL

Key Points

• Allspring Global Investments Holdings LLC has reduced its stake in Dell Technologies by 3.6%, selling 9,837 shares during the second quarter, leaving them with approximately $31.79 million in holdings.
• Dell Technologies recently reported quarterly earnings of $1.68 per share and has set its FY24 guidance at $6.10-6.50 EPS.
• The company declared a quarterly dividend of $0.525 per share that will be paid on October 31st, representing a 1.4% dividend yield.

Allspring Global Investments Holdings LLC decreased its holdings in Dell Technologies Inc. (NYSE:DELL - Free Report) by 3.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 261,155 shares of the technology company's stock after selling 9,837 shares during the period. Allspring Global Investments Holdings LLC's holdings in Dell Technologies were worth $31,790,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in DELL. Smallwood Wealth Investment Management LLC bought a new stake in shares of Dell Technologies in the first quarter valued at about $25,000. N.E.W. Advisory Services LLC bought a new stake in shares of Dell Technologies in the first quarter valued at about $26,000. Cheviot Value Management LLC bought a new stake in shares of Dell Technologies in the first quarter valued at about $27,000. Flaharty Asset Management LLC bought a new stake in shares of Dell Technologies in the first quarter valued at about $27,000. Finally, Cullen Frost Bankers Inc. raised its holdings in shares of Dell Technologies by 270.7% in the first quarter. Cullen Frost Bankers Inc. now owns 304 shares of the technology company's stock valued at $28,000 after acquiring an additional 222 shares in the last quarter. 76.37% of the stock is currently owned by institutional investors.

Dell Technologies Stock Performance

Shares of DELL stock opened at $153.69 on Thursday. Dell Technologies Inc. has a fifty-two week low of $66.25 and a fifty-two week high of $166.10. The firm has a market capitalization of $103.34 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 1.02 and a beta of 1.05. The stock's 50-day simple moving average is $135.32 and its 200-day simple moving average is $118.00.

Dell Technologies (NYSE:DELL - Get Free Report) last issued 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 business had revenue of $26.43 billion for the quarter. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. As a group, equities analysts forecast that Dell Technologies Inc. will post 6.93 earnings per share for the current year.

Dell Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, October 21st will be paid a dividend of $0.525 per share. The ex-dividend date is Tuesday, October 21st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.4%. Dell Technologies's payout ratio is presently 30.88%.

Insider Transactions at Dell Technologies

In other news, Director William D. Green sold 42,736 shares of the business's stock in a transaction dated 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 sale, the director owned 47,619 shares in the company, valued at approximately $7,619,040. The trade was a 47.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 499,999 shares of Dell Technologies 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,551,332 shares of company stock worth $643,036,628. Insiders own 42.00% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Mizuho lifted their price objective on Dell Technologies from $160.00 to $170.00 and gave the company an "outperform" rating in a report on Wednesday, October 8th. Daiwa Capital Markets lifted their price objective on Dell Technologies from $125.00 to $140.00 and gave the company an "outperform" rating in a report on Thursday, September 11th. The Goldman Sachs Group lifted their target price on Dell Technologies from $155.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, October 8th. Wells Fargo & Company lifted their target price on Dell Technologies from $160.00 to $180.00 and gave the company an "overweight" rating in a research note on Wednesday, October 8th. Finally, KeyCorp started coverage on Dell Technologies in a research note on Thursday, June 26th. They issued a "sector weight" rating on the stock. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $160.79.

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).

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