DAVENPORT & Co LLC Increases Position in Dell Technologies Inc. $DELL

Key Points

• DAVENPORT & Co LLC increased its stake in Dell Technologies by 323.5% during the second quarter, bringing its total holdings to 8,385 shares valued at over $1 million.
• Recently, directors sold large amounts of Dell stock, with over 4.7 million shares sold in the last quarter, equating to a total value of approximately $666 million.
• Analysts have increased their price targets for Dell Technologies, with Wells Fargo raising it to $180 and Argus to $200, reflecting a generally positive outlook for the company's stock.

DAVENPORT & Co LLC boosted its holdings in Dell Technologies Inc. (NYSE:DELL - Free Report) by 323.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,385 shares of the technology company's stock after purchasing an additional 6,405 shares during the quarter. DAVENPORT & Co LLC's holdings in Dell Technologies were worth $1,028,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smallwood Wealth Investment Management LLC purchased a new stake in Dell Technologies in the first quarter worth about $25,000. N.E.W. Advisory Services LLC purchased a new stake in Dell Technologies in the first quarter worth about $26,000. Cheviot Value Management LLC purchased a new stake in Dell Technologies in the first quarter worth about $27,000. Flaharty Asset Management LLC bought a new position in shares of Dell Technologies in the first quarter worth approximately $27,000. Finally, Cullen Frost Bankers Inc. lifted its stake in shares of Dell Technologies by 270.7% in the first quarter. Cullen Frost Bankers Inc. now owns 304 shares of the technology company's stock worth $28,000 after buying an additional 222 shares in the last quarter. Hedge funds and other institutional investors own 76.37% of the company's stock.

Insider Buying and Selling at Dell Technologies

In other Dell Technologies news, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of the stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $135.98, for a total transaction of $112,183,364.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director V (Gp) L.L.C. Slta sold 565,000 shares of the stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $132.32, for a total transaction of $74,760,800.00. The disclosure for this sale can be found here. Insiders have sold 4,734,418 shares of company stock valued at $666,089,211 in the last quarter. 42.00% of the stock is owned by company insiders.

Dell Technologies Stock Performance

DELL opened at $150.67 on Friday. The stock has a market capitalization of $101.31 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 1.06 and a beta of 1.05. The company has a fifty day moving average of $133.98 and a 200 day moving average of $116.82. Dell Technologies Inc. has a fifty-two week low of $66.25 and a fifty-two week high of $166.10.

Dell Technologies (NYSE:DELL - Get Free Report) last posted its earnings results on Thursday, October 5th. The technology company reported $1.68 earnings per share 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. On average, equities research analysts forecast that Dell Technologies Inc. will post 6.93 earnings per share for the current year.

Dell Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, October 21st will be given a dividend of $0.525 per share. The ex-dividend date is Tuesday, October 21st. This represents a $2.10 annualized dividend and a yield of 1.4%. Dell Technologies's dividend payout ratio (DPR) is 30.88%.

Analyst Ratings Changes

DELL has been the topic of several analyst reports. Wells Fargo & Company upped their target price on shares of Dell Technologies from $160.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday. Argus increased their price target on shares of Dell Technologies from $150.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday. The Goldman Sachs Group increased their price target on shares of Dell Technologies from $155.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday. KeyCorp initiated coverage on shares of Dell Technologies in a research report on Thursday, June 26th. They issued a "sector weight" rating on the stock. Finally, Evercore ISI increased their price target on shares of Dell Technologies from $150.00 to $160.00 and gave the stock an "outperform" rating in a research report on Friday, August 15th. Seventeen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $160.53.

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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