Sequoia Financial Advisors LLC Acquires 5,434 Shares of Dell Technologies Inc. $DELL

Key Points

• Sequoia Financial Advisors LLC increased its holdings in Dell Technologies Inc. by 15.5% in the second quarter, purchasing an additional 5,434 shares and bringing its total to 40,483 shares valued at approximately $4.96 million.
• Many institutional investors have also increased their stakes in Dell Technologies, with 76.37% of the stock currently owned by these investors, including substantial purchases by Vanguard Group Inc. and Alkeon Capital Management.
• Research firms have raised their target prices for Dell Technologies, with Morgan Stanley setting a new target of $144.00 and the consensus price reaching $160.79, reflecting strong analyst support for the stock.

Sequoia Financial Advisors LLC boosted its position in Dell Technologies Inc. (NYSE:DELL - Free Report) by 15.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,483 shares of the technology company's stock after purchasing an additional 5,434 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Dell Technologies were worth $4,963,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised 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 worth $2,653,032,000 after buying an additional 1,145,658 shares in the last quarter. Boston Partners increased its stake in shares of Dell Technologies by 34.4% in the first quarter. Boston Partners now owns 5,132,877 shares of the technology company's stock valued at $466,418,000 after buying an additional 1,312,600 shares during the period. Deutsche Bank AG boosted its position 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 purchasing an additional 1,142,012 shares in the last quarter. Alkeon Capital Management LLC boosted its position 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 purchasing an additional 931,032 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Dell Technologies by 20.5% in the first quarter. Invesco Ltd. now owns 2,952,829 shares of the technology company's stock worth $269,150,000 after acquiring an additional 502,764 shares in the last quarter. 76.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DELL. Morgan Stanley raised their target price on Dell Technologies from $135.00 to $144.00 and gave the company an "overweight" rating in a report on Thursday, August 21st. Sanford C. Bernstein raised their target price on Dell Technologies from $175.00 to $180.00 and gave the company an "outperform" rating in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their target price on Dell Technologies from $145.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, October 8th. Raymond James Financial increased their price target on Dell Technologies from $150.00 to $152.00 and gave the company an "outperform" rating in a research report on Friday, August 29th. Finally, Evercore ISI increased their price target on Dell Technologies from $150.00 to $160.00 and gave the company an "outperform" rating in a research report on Friday, August 15th. Seventeen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $160.79.

Dell Technologies Trading Down 3.0%

DELL opened at $148.77 on Wednesday. Dell Technologies Inc. has a 12 month low of $66.25 and a 12 month high of $166.10. The company has a market cap of $100.03 billion, a P/E ratio of 21.88, a P/E/G ratio of 1.05 and a beta of 1.05. The business's 50-day moving average price is $134.81 and its 200-day moving average price is $117.75.

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

Dell Technologies Dividend Announcement

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

Insider Activity at Dell Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of the company'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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director V (Gp) L.L.C. Slta sold 565,000 shares of the company's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $132.32, for a total value of $74,760,800.00. The disclosure for this sale can be found here. Insiders sold a total of 4,557,418 shares of company stock worth $643,788,249 over the last ninety days. 42.00% of the stock is currently owned by insiders.

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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