Federated Hermes Inc. Acquires 453,168 Shares of Dell Technologies Inc. (NYSE:DELL)

Key Points

• Federated Hermes Inc. increased its stake in Dell Technologies by 52.3% during the first quarter, acquiring an additional 453,168 shares, resulting in a total ownership of approximately $120.2 million.
• Several other institutional investors have also boosted their positions in Dell Technologies, indicating strong interest, with institutional ownership now at 76.37%.
• Analysts are generally optimistic about Dell's future, with a majority rating the stock as a "Moderate Buy" and setting a consensus target price of $140.06.

Federated Hermes Inc. lifted its stake in shares of Dell Technologies Inc. (NYSE:DELL - Free Report) by 52.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,319,179 shares of the technology company's stock after acquiring an additional 453,168 shares during the period. Federated Hermes Inc. owned 0.19% of Dell Technologies worth $120,243,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Exchange Traded Concepts LLC raised its stake in shares of Dell Technologies by 25.9% during the first quarter. Exchange Traded Concepts LLC now owns 2,460 shares of the technology company's stock valued at $224,000 after purchasing an additional 506 shares during the period. Wealthcare Advisory Partners LLC boosted its holdings in Dell Technologies by 44.9% in the first quarter. Wealthcare Advisory Partners LLC now owns 2,612 shares of the technology company's stock worth $238,000 after purchasing an additional 809 shares during the period. Mather Group LLC. boosted its holdings in Dell Technologies by 113.3% in the first quarter. Mather Group LLC. now owns 1,043 shares of the technology company's stock worth $95,000 after purchasing an additional 554 shares during the period. Golden State Wealth Management LLC boosted its holdings in Dell Technologies by 54.6% in the first quarter. Golden State Wealth Management LLC now owns 4,411 shares of the technology company's stock worth $402,000 after purchasing an additional 1,558 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Dell Technologies by 8.7% during the fourth quarter. Geode Capital Management LLC now owns 6,870,042 shares of the technology company's stock valued at $789,680,000 after acquiring an additional 552,213 shares during the period. Hedge funds and other institutional investors own 76.37% of the company's stock.

Dell Technologies Price Performance

Shares of DELL stock traded down $5.66 during trading hours on Friday, hitting $127.04. 4,360,754 shares of the company's stock were exchanged, compared to its average volume of 7,320,951. The stock's 50-day moving average is $120.81 and its 200-day moving average is $106.77. The stock has a market cap of $86.24 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 1.08 and a beta of 1.02. Dell Technologies Inc. has a 52 week low of $66.25 and a 52 week high of $147.66.

Dell Technologies (NYSE:DELL - Get Free Report) last posted its earnings results on Thursday, May 29th. The technology company reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($0.13). The company had revenue of $23.38 billion for the quarter, compared to analyst estimates of $23.17 billion. Dell Technologies had a negative return on equity of 226.48% and a net margin of 4.63%. Dell Technologies's quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.27 earnings per share. Equities research analysts forecast that Dell Technologies Inc. will post 6.93 earnings per share for the current fiscal year.

Dell Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 22nd will be given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, July 22nd. Dell Technologies's dividend payout ratio (DPR) is currently 33.49%.

Insiders Place Their Bets

In other Dell Technologies news, Director Iv (Gp) L.L.C. Slta sold 600,000 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $127.56, for a total value of $76,536,000.00. Following the completion of the transaction, the director directly owned 980,295 shares in the company, valued at $125,046,430.20. This trade represents a 37.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Brunilda Rios sold 6,000 shares of the firm's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $126.29, for a total value of $757,740.00. Following the completion of the transaction, the chief accounting officer owned 18,948 shares of the company's stock, valued at approximately $2,392,942.92. This represents a 24.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,947,063 shares of company stock worth $1,577,559,812 in the last 90 days. Company insiders own 42.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. TD Cowen boosted their price target on shares of Dell Technologies from $120.00 to $125.00 and gave the company a "hold" rating in a report on Friday, May 30th. KeyCorp started coverage on Dell Technologies in a report on Thursday, June 26th. They set a "sector weight" rating on the stock. Bank of America lifted their target price on Dell Technologies from $155.00 to $165.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Citigroup boosted their price target on Dell Technologies from $128.00 to $135.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Finally, Evercore ISI reiterated an "outperform" rating on shares of Dell Technologies in a report on Thursday, May 29th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Dell Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $140.06.

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).