SouthState Corp Takes Position in Dell Technologies Inc. (NYSE:DELL)

Key Points

• SouthState Corp acquired a new stake in Dell Technologies, purchasing 19,620 shares valued at approximately $1.79 million.
• CEO Michael S. Dell sold 10 million shares for a total of around $1.22 billion, reducing his ownership by 27.85%.
• Analysts have mixed views on Dell Technologies, with price targets ranging from $125 to $150 and an average rating of "Moderate Buy".

SouthState Corp acquired a new position in shares of Dell Technologies Inc. (NYSE:DELL - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 19,620 shares of the technology company's stock, valued at approximately $1,788,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Bellwether Advisors LLC acquired a new position in shares of Dell Technologies during the 4th quarter worth about $25,000. Smallwood Wealth Investment Management LLC acquired a new position in shares of Dell Technologies during the 1st quarter worth about $25,000. N.E.W. Advisory Services LLC acquired a new position in shares of Dell Technologies during the 1st quarter worth about $26,000. Cheviot Value Management LLC acquired a new position in shares of Dell Technologies during the 1st quarter worth about $27,000. Finally, Cullen Frost Bankers Inc. raised its position in shares of Dell Technologies by 270.7% during the 1st quarter. Cullen Frost Bankers Inc. now owns 304 shares of the technology company's stock worth $28,000 after purchasing an additional 222 shares during the last quarter. 76.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DELL has been the subject of several research reports. Morgan Stanley upped their price objective on shares of Dell Technologies from $89.00 to $126.00 and gave the company an "overweight" rating in a research note on Wednesday, May 21st. Mizuho upped their price objective on shares of Dell Technologies from $140.00 to $145.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Susquehanna reaffirmed a "neutral" rating and set a $125.00 price objective on shares of Dell Technologies in a research note on Wednesday. Evercore ISI upped their price objective on shares of Dell Technologies from $150.00 to $160.00 and gave the company an "outperform" rating in a research note on Friday. Finally, Wall Street Zen cut shares of Dell Technologies from a "buy" rating to a "hold" rating in a research note on Monday, July 14th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $143.00.

Dell Technologies Trading Down 0.9%

NYSE:DELL traded down $1.24 during midday trading on Friday, hitting $137.62. 1,752,129 shares of the company were exchanged, compared to its average volume of 7,151,585. The company has a fifty day simple moving average of $125.30 and a 200 day simple moving average of $108.42. Dell Technologies Inc. has a fifty-two week low of $66.25 and a fifty-two week high of $147.66. The company has a market capitalization of $93.42 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 0.98 and a beta of 1.02.

Dell Technologies (NYSE:DELL - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The technology company reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $23.38 billion for the quarter, compared to analysts' expectations of $23.17 billion. During the same period in the previous year, the business posted $1.27 earnings per share. The company's revenue for the quarter was up 5.1% on a year-over-year basis. As a group, equities research analysts expect that Dell Technologies Inc. will post 6.93 EPS for the current year.

Dell Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were given a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Tuesday, July 22nd. Dell Technologies's dividend payout ratio (DPR) is presently 33.49%.

Insider Activity at Dell Technologies

In other Dell Technologies news, insider William F. Scannell sold 91,230 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $118.42, for a total transaction of $10,803,456.60. Following the transaction, the insider directly owned 56,429 shares of the company's stock, valued at approximately $6,682,322.18. This trade represents a 61.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael S. Dell sold 10,000,000 shares of Dell Technologies stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $122.27, for a total transaction of $1,222,700,000.00. Following the completion of the sale, the chief executive officer directly owned 25,912,241 shares in the company, valued at approximately $3,168,289,707.07. The trade was a 27.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,989,063 shares of company stock worth $1,583,673,412 in the last three months. Company 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).