Concurrent Investment Advisors LLC Raises Position in Dell Technologies Inc. $DELL

Key Points

• Concurrent Investment Advisors LLC significantly increased its stake in Dell Technologies Inc. by 149.8% in Q2, now holding 15,450 shares worth approximately $1.89 million.
• Multiple institutional investors have boosted their holdings in Dell, with noteworthy increases from Boston Partners (34.4%) and Deutsche Bank (38.1%).
• Dell Technologies recently reported earnings of $1.68 per share and announced a quarterly dividend of $0.525, reflecting a 1.4% yield, with a payout ratio of 30.88%.

Concurrent Investment Advisors LLC grew its position in Dell Technologies Inc. (NYSE:DELL - Free Report) by 149.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 15,450 shares of the technology company's stock after buying an additional 9,266 shares during the period. Concurrent Investment Advisors LLC's holdings in Dell Technologies were worth $1,894,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of DELL. Boston Partners raised its holdings in Dell Technologies by 34.4% in the first quarter. Boston Partners now owns 5,132,877 shares of the technology company's stock worth $466,418,000 after buying an additional 1,312,600 shares during the last quarter. Vanguard Group Inc. raised its holdings in Dell Technologies by 4.1% in the first quarter. Vanguard Group Inc. now owns 29,106,218 shares of the technology company's stock worth $2,653,032,000 after buying an additional 1,145,658 shares during the last quarter. Deutsche Bank AG raised its holdings in Dell Technologies by 38.1% in the first quarter. Deutsche Bank AG now owns 4,141,618 shares of the technology company's stock worth $377,508,000 after buying an additional 1,142,012 shares during the last quarter. Alkeon Capital Management LLC boosted its holdings in shares of Dell Technologies by 41.4% during the 1st quarter. Alkeon Capital Management LLC now owns 3,177,809 shares of the technology company's stock valued at $289,657,000 after acquiring an additional 931,032 shares during the last quarter. Finally, Auto Owners Insurance Co boosted its holdings in shares of Dell Technologies by 18,732.9% during the 1st quarter. Auto Owners Insurance Co now owns 781,000 shares of the technology company's stock valued at $71,188,000 after acquiring an additional 776,853 shares during the last quarter. 76.37% of the stock is owned by hedge funds and other institutional investors.

Dell Technologies Stock Performance

NYSE:DELL opened at $148.77 on Wednesday. The stock has a 50-day simple moving average of $134.81 and a two-hundred 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. The firm has a market capitalization of $100.03 billion, a PE ratio of 21.88, a P/E/G ratio of 1.05 and a beta of 1.05.

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

Dell Technologies Dividend Announcement

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

Insider Buying and Selling at Dell Technologies

In related news, Director V (Gp) L.L.C. Slta sold 565,000 shares of the business's stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $132.32, for a total value of $74,760,800.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of the business's stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $135.98, for a total transaction of $112,183,364.02. The disclosure for this sale can be found here. Insiders sold 4,557,418 shares of company stock worth $643,788,249 in the last three months. Insiders own 42.00% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DELL shares. Barclays raised their price target on shares of Dell Technologies from $133.00 to $151.00 and gave the company an "equal weight" rating in a report on Wednesday, October 8th. Argus raised their price target on shares of Dell Technologies from $150.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, October 9th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Dell Technologies in a report on Wednesday, October 8th. UBS Group raised their price target on shares of Dell Technologies from $155.00 to $186.00 and gave the company a "buy" rating in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of Dell Technologies from $145.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, October 8th. Seventeen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Dell Technologies presently has an average rating of "Moderate Buy" and a consensus price target of $160.79.

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).

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