Ritholtz Wealth Management Has $2.30 Million Stake in Dell Technologies Inc. $DELL

Key Points

• Ritholtz Wealth Management reduced its stake in Dell Technologies by 20.7%, holding 18,785 shares valued at $2.30 million after selling 4,894 shares in the second quarter.
• Several hedge funds, including Vanguard Group and Deutsche Bank AG, increased their holdings in Dell Technologies, indicating strong institutional interest in the company.
• Dell Technologies recently announced a quarterly dividend of $0.525 per share, which will be distributed on October 31st, reflecting a 1.4% dividend yield.

Ritholtz Wealth Management decreased its stake in shares of Dell Technologies Inc. (NYSE:DELL - Free Report) by 20.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 18,785 shares of the technology company's stock after selling 4,894 shares during the period. Ritholtz Wealth Management's holdings in Dell Technologies were worth $2,303,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Dell Technologies by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 29,106,218 shares of the technology company's stock valued at $2,653,032,000 after acquiring an additional 1,145,658 shares during the last quarter. Boston Partners increased its holdings in shares of Dell Technologies by 34.4% during the 1st quarter. Boston Partners now owns 5,132,877 shares of the technology company's stock valued at $466,418,000 after acquiring an additional 1,312,600 shares during the last quarter. Deutsche Bank AG increased its holdings in shares of Dell Technologies by 38.1% during the 1st quarter. Deutsche Bank AG now owns 4,141,618 shares of the technology company's stock valued at $377,508,000 after acquiring an additional 1,142,012 shares during the last quarter. Alkeon Capital Management LLC increased its holdings in shares of Dell Technologies by 41.4% during the 1st quarter. Alkeon Capital Management LLC now owns 3,177,809 shares of the technology company's stock valued at $289,657,000 after acquiring an additional 931,032 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Dell Technologies by 20.5% during the 1st quarter. Invesco Ltd. now owns 2,952,829 shares of the technology company's stock valued at $269,150,000 after acquiring an additional 502,764 shares during the last quarter. Institutional investors and hedge funds own 76.37% of the company's stock.

Dell Technologies Price Performance

Dell Technologies stock opened at $151.07 on Friday. The company has a market capitalization of $101.57 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 1.05 and a beta of 1.05. Dell Technologies Inc. has a one year low of $66.25 and a one year high of $166.10. The business has a 50 day simple moving average of $135.67 and a 200 day simple moving average of $118.41.

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

Dell Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors 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 dividend payout ratio (DPR) is 30.88%.

Insider Activity at Dell Technologies

In related news, Director V (Gp) L.L.C. Slta sold 565,000 shares of the firm's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $132.32, for a total transaction of $74,760,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of the firm's stock in a transaction that occurred on Monday, September 22nd. The stock was 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 a total of 4,537,949 shares of company stock valued at $641,439,964 in the last 90 days. 42.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DELL. KeyCorp began coverage on Dell Technologies in a research note on Thursday, June 26th. They set a "sector weight" rating for the company. Wall Street Zen upgraded Dell Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Evercore ISI increased their target price on Dell Technologies from $150.00 to $160.00 and gave the company an "outperform" rating in a research note on Friday, August 15th. JPMorgan Chase & Co. increased their target price on Dell Technologies from $145.00 to $165.00 and gave the company an "overweight" rating in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their price objective on shares of Dell Technologies from $160.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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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