Dell Technologies Inc. $DELL Shares Bought by IFP Advisors Inc

Key Points

• IFP Advisors Inc increased its stake in Dell Technologies by 76.4% in Q2 2023, holding 13,266 shares valued at approximately $1.63 million.
• Dell Technologies reported a quarterly EPS of $1.68 with revenues of $26.43 billion, and has set FY24 EPS guidance at $6.10-6.50.
• The company announced a quarterly dividend of $0.525 per share, with a yield of 1.4%, to be paid on October 31st.

IFP Advisors Inc grew its position in shares of Dell Technologies Inc. (NYSE:DELL - Free Report) by 76.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,266 shares of the technology company's stock after acquiring an additional 5,745 shares during the quarter. IFP Advisors Inc's holdings in Dell Technologies were worth $1,631,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new stake in Dell Technologies during the second quarter worth about $29,000. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Dell Technologies in the first quarter valued at about $25,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Dell Technologies in the first quarter valued at about $26,000. Cheviot Value Management LLC acquired a new stake in shares of Dell Technologies in the first quarter valued at about $27,000. Finally, Flaharty Asset Management LLC acquired a new stake in shares of Dell Technologies in the first quarter valued at about $27,000. 76.37% of the stock is currently owned by institutional investors and hedge funds.

Dell Technologies Stock Performance

Shares of DELL opened at $150.67 on Friday. The company has a market capitalization of $101.31 billion, a P/E ratio of 22.16, a P/E/G ratio of 1.03 and a beta of 1.05. Dell Technologies Inc. has a one year low of $66.25 and a one year high of $166.10. The stock has a 50-day moving average price of $133.98 and a 200 day moving average price of $116.97.

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 firm had revenue of $26.43 billion during the quarter. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. As a group, equities research analysts forecast that Dell Technologies Inc. will post 6.93 earnings per share for the current fiscal year.

Dell Technologies Announces Dividend

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 issued 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 payout ratio is currently 30.88%.

Insiders Place Their Bets

In other news, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of Dell Technologies stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $135.98, for a total value of $112,183,364.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director V (Gp) L.L.C. Slta sold 565,000 shares of the business's stock in a transaction dated 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. In the last ninety days, insiders sold 4,734,418 shares of company stock valued at $666,089,211. 42.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Dell Technologies from $145.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday. Morgan Stanley increased their target price on Dell Technologies from $135.00 to $144.00 and gave the company an "overweight" rating in a research note on Thursday, August 21st. Citigroup increased their target price on Dell Technologies from $160.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday. Sanford C. Bernstein increased their target price on Dell Technologies from $175.00 to $180.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Susquehanna reiterated a "neutral" rating and issued a $125.00 target price on shares of Dell Technologies in a research note on Wednesday, August 13th. Seventeen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target 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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