Dell Technologies Inc. $DELL Shares Sold by Private Trust Co. NA

Key Points

• Private Trust Co. NA reduced its stake in Dell Technologies by 55.3%, leaving it with 1,620 shares worth approximately $199,000 following the sale of 2,003 shares in the second quarter.
• Dell Technologies recently announced a quarterly dividend of $0.525 per share, reflecting an annualized yield of 1.4%, with payments scheduled for October 31st.
• The company reported a net margin of 4.73% and an EPS of $1.68 for the last quarter, while setting its FY24 guidance at $6.10-6.50 EPS.

Private Trust Co. NA trimmed its position in Dell Technologies Inc. (NYSE:DELL - Free Report) by 55.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,620 shares of the technology company's stock after selling 2,003 shares during the quarter. Private Trust Co. NA's holdings in Dell Technologies were worth $199,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of DELL. Boston Partners grew its position in shares of Dell Technologies by 34.4% in the 1st quarter. Boston Partners now owns 5,132,877 shares of the technology company's stock valued at $466,418,000 after buying an additional 1,312,600 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Dell Technologies by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 29,106,218 shares of the technology company's stock valued at $2,653,032,000 after buying an additional 1,145,658 shares during the last quarter. Deutsche Bank AG grew its position in shares of Dell Technologies by 38.1% in the 1st quarter. Deutsche Bank AG now owns 4,141,618 shares of the technology company's stock valued at $377,508,000 after buying an additional 1,142,012 shares during the last quarter. Alkeon Capital Management LLC grew its position in shares of Dell Technologies by 41.4% in 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 buying an additional 931,032 shares during the last quarter. Finally, Auto Owners Insurance Co grew its position in shares of Dell Technologies by 18,732.9% in the 1st quarter. Auto Owners Insurance Co now owns 781,000 shares of the technology company's stock valued at $71,188,000 after buying 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

DELL stock opened at $149.45 on Wednesday. Dell Technologies Inc. has a one year low of $66.25 and a one year high of $166.10. The stock has a market capitalization of $100.48 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 1.01 and a beta of 1.05. The company has a fifty day moving average of $136.25 and a 200-day moving average of $120.00.

Dell Technologies (NYSE:DELL - Get Free Report) last released its earnings results on Thursday, October 5th. The technology company reported $1.68 EPS for the quarter. Dell Technologies had a net margin of 4.73% and a negative return on equity of 236.21%. The company 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 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 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 is Tuesday, October 21st. Dell Technologies's payout ratio is presently 30.88%.

Insider Transactions at Dell Technologies

In related news, Director William D. Green sold 42,736 shares of the business's stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $160.00, for a total value of $6,837,760.00. Following the completion of the sale, the director directly owned 47,619 shares in the company, valued at approximately $7,619,040. The trade was a 47.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ellen Jamison Kullman sold 79,806 shares of the business's stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $153.56, for a total transaction of $12,255,009.36. Following the completion of the sale, the director owned 65,662 shares of the company's stock, valued at approximately $10,083,056.72. The trade was a 54.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,617,755 shares of company stock valued at $653,694,973 in the last quarter. Insiders own 42.00% of the company's stock.

Analysts Set New Price Targets

DELL has been the topic of a number of recent analyst reports. Raymond James Financial increased their target price on shares of Dell Technologies from $152.00 to $161.00 and gave the company an "outperform" rating in a research report on Tuesday. Fox Advisors downgraded shares of Dell Technologies from an "overweight" rating to an "equal weight" rating in a research report on Friday, August 29th. Cowen reissued a "hold" rating on shares of Dell Technologies in a research report on Friday, August 29th. Argus raised their price objective on shares of Dell Technologies from $150.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, October 9th. Finally, Zacks Research raised shares of Dell Technologies from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Dell Technologies has a consensus rating of "Moderate Buy" and an average price target of $161.80.

Dell Technologies 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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