Fifth Third Wealth Advisors LLC Takes Position in Dell Technologies Inc. $DELL

Key Points

• Fifth Third Wealth Advisors LLC has acquired a new stake in Dell Technologies, purchasing 3,687 shares valued at approximately $452,000 during the second quarter.
• Dell Technologies reported $1.68 earnings per share (EPS) for its recent quarter, with a total revenue of $26.43 billion and a net margin of 4.73%.
• The company recently announced a quarterly dividend of $0.525 per share, reflecting an annualized dividend yield of 1.4%.

Fifth Third Wealth Advisors LLC purchased a new stake in shares of Dell Technologies Inc. (NYSE:DELL - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,687 shares of the technology company's stock, valued at approximately $452,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Smallwood Wealth Investment Management LLC bought a new position in shares of Dell Technologies during the 1st quarter valued at $25,000. N.E.W. Advisory Services LLC bought a new position in shares of Dell Technologies during the 1st quarter valued at $26,000. Cheviot Value Management LLC bought a new position in shares of Dell Technologies during the 1st quarter valued at $27,000. Flaharty Asset Management LLC bought a new position in shares of Dell Technologies during the 1st quarter valued at $27,000. Finally, Cullen Frost Bankers Inc. raised its holdings 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 valued at $28,000 after purchasing an additional 222 shares in the last quarter. Institutional investors own 76.37% of the company's stock.

Dell Technologies Price Performance

NYSE DELL opened at $150.67 on Monday. The firm has a market capitalization of $101.31 billion, a price-to-earnings ratio of 22.16, a P/E/G ratio of 1.03 and a beta of 1.05. The company's fifty day moving average is $133.98 and its two-hundred day moving average is $117.11. Dell Technologies Inc. has a 52-week low of $66.25 and a 52-week high of $166.10.

Dell Technologies (NYSE:DELL - Get Free Report) last posted its quarterly earnings results on Thursday, October 5th. The technology company reported $1.68 earnings per share (EPS) for the quarter. The company had revenue of $26.43 billion for 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. As a group, sell-side analysts expect that Dell Technologies Inc. will post 6.93 earnings per share for the current fiscal year.

Dell Technologies Dividend Announcement

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

Insider Activity

In other news, Director Iv (Gp) L.L.C. Slta sold 499,999 shares of Dell Technologies stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $161.48, for a total transaction of $80,739,838.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director V (Gp) L.L.C. Slta sold 19,256 shares of Dell Technologies stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $154.21, for a total transaction of $2,969,467.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,734,418 shares of company stock worth $666,089,211. Corporate insiders own 42.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DELL. Evercore ISI raised their target price on shares of Dell Technologies from $150.00 to $160.00 and gave the company an "outperform" rating in a research note on Friday, August 15th. Citigroup raised their target price on shares of Dell Technologies from $160.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday. KeyCorp began coverage on shares of Dell Technologies in a research note on Thursday, June 26th. They issued a "sector weight" rating on the stock. JPMorgan Chase & Co. raised their target price on shares of Dell Technologies from $145.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, October 8th. Finally, Susquehanna raised their target price on shares of Dell Technologies from $120.00 to $130.00 and gave the company a "neutral" rating in a research note on Wednesday, October 8th. Seventeen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $160.79.

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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