Riverbend Wealth Management LLC Takes Position in Dell Technologies Inc. $DELL

Key Points

• Riverbend Wealth Management LLC has acquired a new position in Dell Technologies Inc., obtaining 5,548 shares valued at approximately $680,000 as per their 13F filing with the SEC.
• Insiders at Dell Technologies sold a combined total of **4,537,949 shares** valued at nearly **$641 million** in the last quarter, indicating significant insider activity.
• Several analysts have raised their price targets for Dell Technologies stock, with estimates now ranging from **$152 to $175**, reflecting a strong outlook on the company's future performance.

Riverbend Wealth Management LLC acquired a new position in Dell Technologies Inc. (NYSE:DELL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,548 shares of the technology company's stock, valued at approximately $680,000.

Several other hedge funds have also bought and sold shares of the stock. Cary Street Partners Financial LLC boosted its stake in shares of Dell Technologies by 2.7% during the first quarter. Cary Street Partners Financial LLC now owns 4,335 shares of the technology company's stock valued at $395,000 after purchasing an additional 116 shares during the period. Blue Trust Inc. boosted its position in Dell Technologies by 16.4% during the 2nd quarter. Blue Trust Inc. now owns 882 shares of the technology company's stock valued at $108,000 after buying an additional 124 shares during the period. OneAscent Financial Services LLC grew its holdings in Dell Technologies by 3.4% in the 1st quarter. OneAscent Financial Services LLC now owns 3,778 shares of the technology company's stock worth $345,000 after acquiring an additional 125 shares during the last quarter. MRP Capital Investments LLC increased its position in shares of Dell Technologies by 0.8% in the first quarter. MRP Capital Investments LLC now owns 14,975 shares of the technology company's stock valued at $1,365,000 after acquiring an additional 125 shares during the period. Finally, Cantor Fitzgerald Investment Advisors L.P. raised its stake in shares of Dell Technologies by 1.2% during the second quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 10,762 shares of the technology company's stock valued at $1,319,000 after acquiring an additional 125 shares during the last quarter. 76.37% of the stock is currently owned by institutional investors.

Insider Activity at Dell Technologies

In other Dell Technologies news, Director V (Gp) L.L.C. Slta sold 565,000 shares of the business's stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of the stock in a transaction 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 4,537,949 shares of company stock valued at $641,439,964 over the last quarter. Company insiders own 42.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Cowen reissued a "hold" rating on shares of Dell Technologies in a research note on Friday, August 29th. JPMorgan Chase & Co. lifted their price objective on Dell Technologies from $145.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 8th. The Goldman Sachs Group boosted their target price on Dell Technologies from $155.00 to $175.00 and gave the company a "buy" rating in a research note on Wednesday, October 8th. Raymond James Financial raised their price target on Dell Technologies from $150.00 to $152.00 and gave the stock an "outperform" rating in a research note on Friday, August 29th. Finally, Citigroup boosted their price objective on shares of Dell Technologies from $160.00 to $175.00 and gave the company a "buy" rating in a research report on Wednesday, October 8th. One investment 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 stock. According to data from MarketBeat.com, Dell Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $160.79.

Dell Technologies Stock Down 1.7%

Shares of DELL stock opened at $151.07 on Friday. The business's fifty day moving average is $135.67 and its 200 day moving average is $118.41. The stock has a market cap of $101.57 billion, a price-to-earnings ratio of 22.22, a PEG ratio of 1.05 and a beta of 1.05. Dell Technologies Inc. has a twelve month low of $66.25 and a twelve month high of $166.10.

Dell Technologies (NYSE:DELL - Get Free Report) last announced its earnings results on Thursday, October 5th. The technology company reported $1.68 EPS for the quarter. The firm 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. Equities research analysts expect that Dell Technologies Inc. will post 6.93 earnings per share for the current fiscal year.

Dell Technologies Announces Dividend

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

About Dell Technologies

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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