Drive Wealth Management LLC Makes New Investment in Dell Technologies Inc. $DELL

Key Points

• Drive Wealth Management LLC invested approximately $206,000 in Dell Technologies Inc., acquiring 1,680 shares in the second quarter, alongside several other large investors increasing their stakes.
• In insider trading news, Director William D. Green sold 42,736 shares for over $6.8 million, reducing his ownership by 47.30%.
• Wall Street analysts have issued positive ratings on Dell, with JPMorgan raising its price target from $145 to $165, while the company currently holds a "Moderate Buy" consensus rating.

Drive Wealth Management LLC bought a new position in shares of Dell Technologies Inc. (NYSE:DELL - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,680 shares of the technology company's stock, valued at approximately $206,000.

A number of other large investors have also recently added to or reduced their stakes in DELL. Smallwood Wealth Investment Management LLC bought a new position in Dell Technologies during the 1st quarter worth about $25,000. N.E.W. Advisory Services LLC bought a new position in Dell Technologies during the 1st quarter worth about $26,000. Cheviot Value Management LLC acquired a new position in shares of Dell Technologies during the 1st quarter worth about $27,000. Flaharty Asset Management LLC acquired a new position in shares of Dell Technologies during the 1st quarter worth about $27,000. Finally, Cullen Frost Bankers Inc. boosted its stake in shares of Dell Technologies by 270.7% during the 1st quarter. Cullen Frost Bankers Inc. now owns 304 shares of the technology company's stock worth $28,000 after buying an additional 222 shares during the last quarter. Institutional investors own 76.37% of the company's stock.

Insider Activity

In other news, Director William D. Green sold 42,736 shares of Dell Technologies stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $160.00, for a total transaction of $6,837,760.00. Following the completion of the sale, the director owned 47,619 shares of the company's stock, valued at approximately $7,619,040. This trade represents a 47.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director V (Gp) L.L.C. Slta sold 19,256 shares of Dell Technologies stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $154.21, for a total value of $2,969,467.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,617,755 shares of company stock valued at $653,694,973. Company insiders own 42.00% of the company's stock.

Wall Street Analysts Forecast Growth

DELL has been the subject of a number of recent research reports. Weiss Ratings restated a "hold (c+)" rating on shares of Dell Technologies in a research note on Wednesday, October 8th. JPMorgan Chase & Co. increased their price objective on shares of Dell Technologies from $145.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 8th. TD Cowen increased their price objective on shares of Dell Technologies from $130.00 to $150.00 and gave the stock a "hold" rating in a research note on Wednesday, October 8th. Cowen restated a "hold" rating on shares of Dell Technologies in a research note on Friday, August 29th. Finally, Raymond James Financial increased their price objective on shares of Dell Technologies from $152.00 to $161.00 and gave the stock an "outperform" rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $161.80.

Dell Technologies Stock Performance

Shares of NYSE:DELL opened at $149.45 on Wednesday. Dell Technologies Inc. has a 52-week low of $66.25 and a 52-week high of $166.10. The company has a market capitalization of $100.48 billion, a P/E ratio of 21.98, a price-to-earnings-growth ratio of 1.01 and a beta of 1.05. The company has a 50-day simple moving average of $136.25 and a 200 day simple moving average of $120.00.

Dell Technologies (NYSE:DELL - Get Free Report) last issued its earnings results on Thursday, October 5th. The technology company reported $1.68 earnings per share (EPS) for the quarter. Dell Technologies had a net margin of 4.73% and a negative return on equity of 236.21%. The business 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 analysts forecast that Dell Technologies Inc. will post 6.93 earnings per share for the current year.

Dell Technologies Announces Dividend

The business 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%.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.