Argent Trust Co Purchases 2,970 Shares of Dell Technologies Inc. (NYSE:DELL)

Key Points

• Argent Trust Co increased its stake in Dell Technologies by 37.7%, now holding 10,848 shares valued at approximately $989,000.
• Dell Technologies recently declared a quarterly dividend of $0.525 per share, reflecting an annual yield of 1.6% with a payout ratio of 33.49%.
• Analysts have raised their price targets for Dell Technologies, with JPMorgan setting a new target of $145.00 and the consensus price target now at $140.06.

Argent Trust Co increased its stake in shares of Dell Technologies Inc. (NYSE:DELL - Free Report) by 37.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,848 shares of the technology company's stock after purchasing an additional 2,970 shares during the quarter. Argent Trust Co's holdings in Dell Technologies were worth $989,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Bellwether Advisors LLC bought a new position in Dell Technologies in the fourth quarter valued at approximately $25,000. Smallwood Wealth Investment Management LLC bought a new position in shares of Dell Technologies in the 1st quarter worth $25,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Dell Technologies during the first quarter worth $26,000. Cheviot Value Management LLC bought a new stake in Dell Technologies in the first quarter valued at about $27,000. Finally, Cullen Frost Bankers Inc. lifted its stake in 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 buying an additional 222 shares during the period. Institutional investors own 76.37% of the company's stock.

Insider Buying and Selling at Dell Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 625,000 shares of the stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $126.20, for a total value of $78,875,000.00. Following the sale, the director owned 960,050 shares in the company, valued at approximately $121,158,310. This represents a 39.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael S. Dell sold 10,000,000 shares of the company's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $122.27, for a total transaction of $1,222,700,000.00. Following the completion of the transaction, the chief executive officer owned 25,912,241 shares in the company, valued at approximately $3,168,289,707.07. This represents a 27.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,947,063 shares of company stock valued at $1,577,559,812 in the last three months. Corporate insiders own 42.00% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DELL. Morgan Stanley upped their price target on Dell Technologies from $89.00 to $126.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. TD Cowen upped their target price on shares of Dell Technologies from $120.00 to $125.00 and gave the company a "hold" rating in a research note on Friday, May 30th. UBS Group reduced their price target on shares of Dell Technologies from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Wall Street Zen cut shares of Dell Technologies from a "buy" rating to a "hold" rating in a research report on Monday, July 14th. Finally, Barclays boosted their target price on Dell Technologies from $116.00 to $123.00 and gave the company an "equal weight" rating in a research note on Friday, May 30th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Dell Technologies presently has an average rating of "Moderate Buy" and an average price target of $140.06.

Dell Technologies Trading Down 1.8%

Shares of Dell Technologies stock traded down $2.36 during trading hours on Wednesday, reaching $128.12. 6,219,668 shares of the company's stock were exchanged, compared to its average volume of 4,747,699. The company has a 50 day moving average of $121.80 and a two-hundred day moving average of $107.16. The stock has a market cap of $86.97 billion, a P/E ratio of 20.43, a P/E/G ratio of 1.06 and a beta of 1.02. Dell Technologies Inc. has a fifty-two week low of $66.25 and a fifty-two week high of $147.66.

Dell Technologies (NYSE:DELL - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The technology company reported $1.55 earnings per share for the quarter, missing analysts' consensus estimates of $1.68 by ($0.13). The company had revenue of $23.38 billion during the quarter, compared to the consensus estimate of $23.17 billion. Dell Technologies had a net margin of 4.63% and a negative return on equity of 226.48%. The firm's revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.27 earnings per share. As a group, analysts expect that Dell Technologies Inc. will post 6.93 earnings per share for the current fiscal year.

Dell Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 1.6%. The ex-dividend date was Tuesday, July 22nd. Dell Technologies's dividend payout ratio (DPR) is 33.49%.

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).