Concord Asset Management LLC VA Acquires New Holdings in Dell Technologies Inc. $DELL

Key Points

• Concord Asset Management LLC VA has acquired 2,946 shares of Dell Technologies, valued at approximately $361,000, indicating growing institutional interest in the company.
• Insider transactions have seen significant activity, with insiders selling over 4.5 million shares for about $644 million recently, raising concerns about insider sentiment.
• Dell Technologies plans to pay a quarterly dividend of $0.525 on October 31st, reflecting a commitment to return capital to shareholders.

Concord Asset Management LLC VA purchased a new position in shares of Dell Technologies Inc. (NYSE:DELL - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,946 shares of the technology company's stock, valued at approximately $361,000.

Several other institutional investors and hedge funds have also made changes to their positions in DELL. Smallwood Wealth Investment Management LLC bought a new stake in shares of Dell Technologies in the 1st quarter worth $25,000. N.E.W. Advisory Services LLC bought a new position in shares of Dell Technologies in the first quarter valued at $26,000. Cheviot Value Management LLC purchased a new stake in Dell Technologies during the first quarter valued at about $27,000. Flaharty Asset Management LLC purchased a new stake in Dell Technologies in the 1st quarter worth about $27,000. Finally, Cullen Frost Bankers Inc. boosted its stake in shares of Dell Technologies by 270.7% during the 1st 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. 76.37% of the stock is currently owned by institutional investors.

Insider Activity at Dell Technologies

In other Dell Technologies news, Director Iv (Gp) L.L.C. Slta sold 499,999 shares of the firm's stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $161.48, for a total value of $80,739,838.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director V (Gp) L.L.C. Slta sold 19,256 shares of the company's stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $154.21, for a total transaction of $2,969,467.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,561,318 shares of company stock valued at $644,276,880. 42.00% of the stock is owned by insiders.

Dell Technologies Trading Up 1.9%

Shares of NYSE DELL opened at $153.42 on Tuesday. The firm has a market cap of $103.16 billion, a PE ratio of 22.56, a PEG ratio of 1.03 and a beta of 1.05. The company has a fifty day moving average price of $134.44 and a 200 day moving average price of $117.53. Dell Technologies Inc. has a 1-year low of $66.25 and a 1-year high of $166.10.

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

Dell Technologies Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend 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 currently 30.88%.

Analyst Ratings Changes

DELL has been the topic of a number of recent research reports. TD Cowen raised their price target on shares of Dell Technologies from $130.00 to $150.00 and gave the company a "hold" rating in a report on Wednesday, October 8th. Morgan Stanley boosted their price objective on Dell Technologies from $135.00 to $144.00 and gave the stock an "overweight" rating in a research report on Thursday, August 21st. 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. Citigroup lifted their price objective on Dell Technologies from $160.00 to $175.00 and gave the company a "buy" rating in a report on Wednesday, October 8th. Finally, Mizuho upped their price objective on shares of Dell Technologies from $160.00 to $170.00 and gave the company an "outperform" rating 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's stock. According to MarketBeat, Dell Technologies has an average rating of "Moderate Buy" and a consensus target price of $160.79.

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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