Axxcess Wealth Management LLC Invests $438,000 in Dell Technologies Inc. $DELL

Key Points

• Axxcess Wealth Management LLC invested $438,000 by acquiring 3,570 shares of Dell Technologies during the second quarter.
• The company reported $1.68 earnings per share for the most recent quarter and set its FY24 guidance at $6.10-6.50 EPS.
• Dell Technologies announced a quarterly dividend of $0.525 per share, with the annualized dividend amounting to $2.10 and a yield of 1.4%.

Axxcess Wealth Management LLC bought a new position in Dell Technologies Inc. (NYSE:DELL - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,570 shares of the technology company's stock, valued at approximately $438,000.

Other hedge funds also recently bought and sold shares of the company. Exchange Traded Concepts LLC boosted 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 worth $224,000 after purchasing an additional 506 shares in the last quarter. First Hawaiian Bank boosted its stake in Dell Technologies by 67.1% in the 1st quarter. First Hawaiian Bank now owns 34,878 shares of the technology company's stock worth $3,179,000 after purchasing an additional 14,010 shares in the last quarter. Carolina Wealth Advisors LLC bought a new position in Dell Technologies in the 2nd quarter worth about $8,869,000. Mather Group LLC. boosted its stake in Dell Technologies by 113.3% in the 1st quarter. Mather Group LLC. now owns 1,043 shares of the technology company's stock worth $95,000 after purchasing an additional 554 shares in the last quarter. Finally, Westbourne Investments Inc. boosted its stake in Dell Technologies by 167.5% in the 1st quarter. Westbourne Investments Inc. now owns 21,808 shares of the technology company's stock worth $1,988,000 after purchasing an additional 13,657 shares in the last quarter. Institutional investors own 76.37% of the company's stock.

Dell Technologies Stock Down 1.1%

Shares of NYSE:DELL opened at $149.57 on Friday. The firm's 50 day moving average price is $135.90 and its 200-day moving average price is $118.81. Dell Technologies Inc. has a twelve month low of $66.25 and a twelve month high of $166.10. The stock has a market capitalization of $100.57 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 1.03 and a beta of 1.05.

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

Dell Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, October 21st will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, October 21st. Dell Technologies's dividend payout ratio is currently 30.88%.

Insider Buying and Selling

In related news, Director William D. Green sold 42,736 shares of the stock in a transaction that occurred 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 directly owned 47,619 shares of the company's stock, valued at approximately $7,619,040. This represents a 47.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Iv (Gp) L.L.C. Slta sold 499,999 shares of the stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $161.48, for a total transaction of $80,739,838.52. The disclosure for this sale can be found here. Insiders sold a total of 4,617,755 shares of company stock worth $653,694,973 in the last ninety days. Corporate insiders own 42.00% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on DELL. Susquehanna upped their target price on shares of Dell Technologies from $120.00 to $130.00 and gave the company a "neutral" rating in a research note on Wednesday, October 8th. Evercore ISI upped their target price on shares of Dell Technologies from $150.00 to $160.00 and gave the company an "outperform" rating in a research note on Friday, August 15th. Mizuho upped their target price on shares of Dell Technologies from $160.00 to $170.00 and gave the company an "outperform" rating in a research note on Wednesday, October 8th. Argus upped their target price on shares of Dell Technologies from $150.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, October 9th. Finally, Bank of America upped their target price on shares of Dell Technologies from $167.00 to $170.00 and gave the company a "buy" rating in a research note on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus 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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