Chevy Chase Trust Holdings LLC Sells 5,358 Shares of Dell Technologies Inc. $DELL

Key Points

• Chevy Chase Trust Holdings LLC reduced its stake in Dell Technologies Inc. by 3.3%, selling 5,358 shares, leaving them with a total of 159,257 shares valued at approximately $19.5 million.
• Dell Technologies recently announced a quarterly dividend of $0.525, set to be paid on October 31, reflecting an annual yield of 1.4%.
• Analyst ratings for Dell have been mostly positive, with several firms raising their price targets and maintaining ratings of "Buy" or "Outperform", signaling strong market confidence in the company.

Chevy Chase Trust Holdings LLC lowered its position in Dell Technologies Inc. (NYSE:DELL - Free Report) by 3.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 159,257 shares of the technology company's stock after selling 5,358 shares during the period. Chevy Chase Trust Holdings LLC's holdings in Dell Technologies were worth $19,525,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Central Pacific Bank Trust Division bought a new position in Dell Technologies in the 2nd quarter worth $29,000. Smallwood Wealth Investment Management LLC purchased a new stake in Dell Technologies in the 1st quarter worth $25,000. N.E.W. Advisory Services LLC purchased a new stake in Dell Technologies in the 1st quarter worth $26,000. Cheviot Value Management LLC purchased a new stake in Dell Technologies in the 1st quarter worth $27,000. Finally, Flaharty Asset Management LLC purchased a new stake in Dell Technologies in the 1st quarter worth $27,000. Institutional investors own 76.37% of the company's stock.

Dell Technologies Trading 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 $118.97. The stock has a market capitalization of $100.57 billion, a price-to-earnings ratio of 22.00, a P/E/G ratio of 1.02 and a beta of 1.05. Dell Technologies Inc. has a 12-month low of $66.25 and a 12-month high of $166.10.

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

Dell Technologies Announces Dividend

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

Analyst Ratings Changes

Several analysts have commented on DELL shares. Evercore ISI boosted their price target on shares of Dell Technologies from $150.00 to $160.00 and gave the stock an "outperform" rating in a research note on Friday, August 15th. Citigroup boosted their price target on shares of Dell Technologies from $160.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Dell Technologies from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 13th. Fox Advisors cut shares of Dell Technologies from an "overweight" rating to an "equal weight" rating in a research note on Friday, August 29th. Finally, The Goldman Sachs Group boosted their price target on shares of Dell Technologies from $155.00 to $175.00 and gave the stock a "buy" rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Dell Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $160.79.

Insider Buying and Selling

In related news, Director V (Gp) L.L.C. Slta sold 19,256 shares of the stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $154.21, for a total value of $2,969,467.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Lake Group L.L.C. Silver sold 6,617 shares of the stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $151.63, for a total transaction of $1,003,335.71. 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 over the last three months. 42.00% of the stock is currently owned by company insiders.

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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