Patten & Patten Inc. TN Has $210,000 Holdings in Dell Technologies Inc. $DELL

Key Points

• Patten & Patten Inc. reduced its holdings in Dell Technologies by 74%, now owning 1,713 shares valued at approximately $210,000 as of the latest SEC filing.
• Insiders at Dell Technologies have sold a total of 4.6 million shares worth nearly $653.7 million in the last quarter, indicating significant insider trading activity.
• Dell Technologies recently announced a quarterly dividend of $0.525 per share, with an annualized yield of 1.4%, set to be paid out on October 31.

Patten & Patten Inc. TN cut its holdings in Dell Technologies Inc. (NYSE:DELL - Free Report) by 74.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,713 shares of the technology company's stock after selling 4,875 shares during the quarter. Patten & Patten Inc. TN's holdings in Dell Technologies were worth $210,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Central Pacific Bank Trust Division acquired a new position in Dell Technologies during the second quarter worth approximately $29,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of Dell Technologies in the first quarter valued at about $25,000. N.E.W. Advisory Services LLC bought a new position in Dell Technologies during the 1st quarter worth $26,000. Cheviot Value Management LLC acquired a new position in Dell Technologies in the first quarter valued at about $27,000. Finally, Flaharty Asset Management LLC acquired a new position in shares of Dell Technologies in the 1st quarter valued at approximately $27,000. 76.37% of the stock is currently owned by institutional investors.

Insider Activity

In other Dell Technologies news, Director V (Gp) L.L.C. Slta sold 565,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $132.32, for a total value of $74,760,800.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of the business's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $135.98, for a total value of $112,183,364.02. The disclosure for this sale can be found here. Insiders have sold 4,617,755 shares of company stock worth $653,694,973 in the last quarter. Company insiders own 42.00% of the company's stock.

Dell Technologies Price Performance

Shares of Dell Technologies stock opened at $149.57 on Friday. The stock's 50-day moving average is $135.90 and its 200 day moving average is $118.81. Dell Technologies Inc. has a one year low of $66.25 and a one year high of $166.10. The firm has a market cap of $100.57 billion, a price-to-earnings ratio of 22.00, a PEG ratio of 1.03 and a beta of 1.05.

Dell Technologies (NYSE:DELL - Get Free Report) last issued its quarterly earnings results on Thursday, October 5th. The technology company reported $1.68 earnings per share (EPS) for the quarter. The firm had revenue of $26.43 billion for the quarter. Dell Technologies had a negative return on equity of 236.21% and a net margin of 4.73%. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. On average, sell-side analysts expect that Dell Technologies Inc. will post 6.93 EPS for the current fiscal year.

Dell Technologies Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have weighed in on DELL. TD Cowen raised their target price on Dell Technologies from $130.00 to $150.00 and gave the company a "hold" rating in a report on Wednesday, October 8th. Mizuho boosted their target price on Dell Technologies from $160.00 to $170.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 8th. Weiss Ratings reissued a "hold (c+)" rating on shares of Dell Technologies in a report on Wednesday, October 8th. Susquehanna boosted their price target on Dell Technologies from $120.00 to $130.00 and gave the stock a "neutral" rating in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Dell Technologies from $145.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $160.79.

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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