Aries Wealth Management Invests $231,000 in Dell Technologies Inc. $DELL

Key Points

• Aries Wealth Management has purchased a new stake in Dell Technologies worth approximately $231,000, acquiring 1,881 shares.
• Insider transactions saw significant sales, with Director V (Gp) L.L.C. Slta selling 152,918 shares and Director William D. Green selling 42,736 shares, leading to steep declines in their holdings.
• Dell Technologies recently announced a quarterly dividend of $0.525 per share, with an annualized yield of 1.4%, and a projected FY24 guidance of $6.10 to $6.50 EPS.

Aries Wealth Management bought a new stake in Dell Technologies Inc. (NYSE:DELL - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,881 shares of the technology company's stock, valued at approximately $231,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DELL. Brighton Jones LLC lifted its stake in Dell Technologies by 42.7% in the 4th quarter. Brighton Jones LLC now owns 3,011 shares of the technology company's stock valued at $347,000 after buying an additional 901 shares in the last quarter. GAMMA Investing LLC lifted its stake in Dell Technologies by 94.8% in the 1st quarter. GAMMA Investing LLC now owns 5,914 shares of the technology company's stock valued at $539,000 after buying an additional 2,878 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Dell Technologies by 9.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 59,429 shares of the technology company's stock valued at $5,417,000 after buying an additional 4,977 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in Dell Technologies by 25.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,460 shares of the technology company's stock valued at $224,000 after buying an additional 506 shares in the last quarter. Finally, Mission Wealth Management LP lifted its stake in Dell Technologies by 62.4% in the 1st quarter. Mission Wealth Management LP now owns 3,037 shares of the technology company's stock valued at $277,000 after buying an additional 1,167 shares in the last quarter. Hedge funds and other institutional investors own 76.37% of the company's stock.

Insider Transactions at Dell Technologies

In related news, Director V (Gp) L.L.C. Slta sold 152,918 shares of the stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $148.46, for a total value of $22,702,206.28. Following the completion of the sale, the director directly owned 1,243 shares in the company, valued at approximately $184,535.78. This represents a 99.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William D. Green sold 42,736 shares of the stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $160.00, for a total value of $6,837,760.00. Following the completion of the sale, the director owned 47,619 shares of the company's stock, valued at approximately $7,619,040. This represents a 47.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,557,418 shares of company stock worth $643,788,249 in the last ninety days. Insiders own 42.00% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on DELL. Fox Advisors lowered Dell Technologies from an "overweight" rating to an "equal weight" rating in a research note on Friday, August 29th. Wells Fargo & Company raised their price objective on Dell Technologies from $160.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, October 8th. Bank of America lifted their price objective on Dell Technologies from $167.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, October 1st. The Goldman Sachs Group lifted their price objective on Dell Technologies from $155.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Dell Technologies in a research report on Wednesday, October 8th. Seventeen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $160.79.

Dell Technologies Stock Down 3.0%

DELL stock opened at $148.77 on Wednesday. The company has a market cap of $100.03 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 1.05 and a beta of 1.05. The business has a fifty day simple moving average of $134.81 and a 200-day simple moving average of $117.75. Dell Technologies Inc. has a 52 week low of $66.25 and a 52 week high of $166.10.

Dell Technologies (NYSE:DELL - Get Free Report) last released its quarterly earnings data on Thursday, October 5th. The technology company reported $1.68 EPS for the quarter. The business had revenue of $26.43 billion during 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. 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 disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders 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 dividend yield of 1.4%. The ex-dividend date is Tuesday, October 21st. Dell Technologies's dividend payout ratio is presently 30.88%.

About Dell Technologies

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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