Dell Technologies Inc. (NYSE:DELL) Shares Acquired by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• OVERSEA CHINESE BANKING Corp Ltd significantly increased its stake in Dell Technologies by purchasing an additional 11,764 shares, boosting its total holdings by 272.4% to 16,083 shares worth approximately $1.56 million.
• CEO Michael S. Dell sold 10 million shares of Dell Technologies, resulting in a 27.85% decrease in his ownership, which is now valued at around $3.17 billion after the sale.
• Analysts have a consensus rating of "Moderate Buy" for Dell Technologies, with an average price target raised to $140.06, indicating optimism about the company's performance and future prospects.

OVERSEA CHINESE BANKING Corp Ltd grew its position in Dell Technologies Inc. (NYSE:DELL - Free Report) by 272.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,083 shares of the technology company's stock after buying an additional 11,764 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Dell Technologies were worth $1,562,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Vanguard Capital Wealth Advisors raised its position in shares of Dell Technologies by 5.9% in the 4th quarter. Vanguard Capital Wealth Advisors now owns 1,800 shares of the technology company's stock worth $207,000 after acquiring an additional 100 shares in the last quarter. OneAscent Financial Services LLC increased its position in Dell Technologies by 3.4% during the 1st quarter. OneAscent Financial Services LLC now owns 3,778 shares of the technology company's stock valued at $345,000 after buying an additional 125 shares in the last quarter. MRP Capital Investments LLC increased its position in Dell Technologies by 0.8% during the 1st quarter. MRP Capital Investments LLC now owns 14,975 shares of the technology company's stock valued at $1,365,000 after buying an additional 125 shares in the last quarter. Greenleaf Trust increased its position in Dell Technologies by 1.4% during the 1st quarter. Greenleaf Trust now owns 10,172 shares of the technology company's stock valued at $927,000 after buying an additional 136 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its position in Dell Technologies by 32.9% during the 1st quarter. First Horizon Advisors Inc. now owns 586 shares of the technology company's stock valued at $53,000 after buying an additional 145 shares in the last quarter. 76.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on DELL shares. Mizuho increased their price objective on Dell Technologies from $140.00 to $145.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Citigroup increased their price objective on Dell Technologies from $128.00 to $135.00 and gave the company a "buy" rating in a report on Friday, May 30th. TD Cowen increased their price objective on Dell Technologies from $120.00 to $125.00 and gave the company a "hold" rating in a report on Friday, May 30th. Raymond James Financial increased their price objective on Dell Technologies from $144.00 to $150.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Finally, Wall Street Zen lowered Dell Technologies from a "buy" rating to a "hold" rating in a report on Monday, July 14th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $140.06.

Dell Technologies Stock Up 2.3%

Shares of Dell Technologies stock traded up $2.89 during mid-day trading on Monday, reaching $130.21. 2,764,218 shares of the stock traded hands, compared to its average volume of 4,741,070. The business has a 50-day moving average of $121.11 and a 200 day moving average of $106.85. Dell Technologies Inc. has a fifty-two week low of $66.25 and a fifty-two week high of $147.66. The stock has a market capitalization of $88.39 billion, a PE ratio of 20.77, a PEG ratio of 1.03 and a beta of 1.02.

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

Dell Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Tuesday, July 22nd were issued a $0.525 dividend. The ex-dividend date was Tuesday, July 22nd. This represents a $2.10 dividend on an annualized basis and a yield of 1.6%. Dell Technologies's dividend payout ratio (DPR) is 33.49%.

Insider Transactions at Dell Technologies

In other Dell Technologies news, General Counsel Richard J. Rothberg sold 70,165 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $108.82, for a total value of $7,635,355.30. Following the completion of the sale, the general counsel owned 79,928 shares in the company, valued at approximately $8,697,764.96. The trade was a 46.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William F. Scannell sold 91,230 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $118.42, for a total value of $10,803,456.60. Following the sale, the insider directly owned 56,429 shares of the company's stock, valued at approximately $6,682,322.18. This represents a 61.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,947,063 shares of company stock valued at $1,577,559,812 in the last 90 days. Insiders own 42.00% of the company's stock.

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).