Sumitomo Mitsui Trust Group Inc. Raises Stake in Dell Technologies Inc. $DELL

Key Points

• Sumitomo Mitsui Trust Group Inc. has increased its stake in Dell Technologies Inc. by 1.0%, owning 736,458 shares valued at approximately $90.29 million as of the latest filing.
• Dell Technologies reported a quarterly EPS of $1.68 and forecasted full-year EPS guidance between $6.10 and $6.50, with analysts predicting an average of 6.93 EPS for the current fiscal year.
• The company declared a quarterly dividend of $0.525 per share, with an annualized dividend yield of 1.3%, set to be paid on October 31st.

Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Dell Technologies Inc. (NYSE:DELL - Free Report) by 1.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 736,458 shares of the technology company's stock after buying an additional 6,947 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.11% of Dell Technologies worth $90,290,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DELL. First Hawaiian Bank boosted its holdings in Dell Technologies by 67.1% in the first quarter. First Hawaiian Bank now owns 34,878 shares of the technology company's stock valued at $3,179,000 after purchasing an additional 14,010 shares during the last quarter. Carolina Wealth Advisors LLC purchased a new stake in shares of Dell Technologies in the second quarter worth about $8,869,000. Mather Group LLC. raised its position in Dell Technologies by 113.3% during the first quarter. Mather Group LLC. now owns 1,043 shares of the technology company's stock valued at $95,000 after acquiring an additional 554 shares in the last quarter. Westbourne Investments Inc. lifted its holdings in Dell Technologies by 167.5% in the first quarter. Westbourne Investments Inc. now owns 21,808 shares of the technology company's stock valued at $1,988,000 after acquiring an additional 13,657 shares during the period. Finally, Magnolia Capital Management Ltd. purchased a new stake in Dell Technologies in the 2nd quarter worth approximately $223,000. Institutional investors and hedge funds own 76.37% of the company's stock.

Dell Technologies Price Performance

NYSE DELL opened at $158.67 on Friday. The stock's 50 day simple moving average is $137.17 and its 200-day simple moving average is $121.69. The company has a market cap of $106.68 billion, a PE ratio of 23.33, a price-to-earnings-growth ratio of 1.08 and a beta of 1.05. Dell Technologies Inc. has a 1-year low of $66.25 and a 1-year high of $166.10.

Dell Technologies (NYSE:DELL - Get Free Report) last posted its quarterly earnings data on Thursday, October 5th. The technology company reported $1.68 EPS for the quarter. The firm 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. On average, equities research analysts anticipate that Dell Technologies Inc. will post 6.93 EPS for the current fiscal year.

Dell Technologies Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Tuesday, October 21st. This represents a $2.10 dividend on an annualized basis and a yield of 1.3%. Dell Technologies's payout ratio is presently 30.88%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Susquehanna lifted their target price on shares of Dell Technologies from $120.00 to $130.00 and gave the company a "neutral" rating in a report on Wednesday, October 8th. Cowen reiterated a "hold" rating on shares of Dell Technologies in a research report on Friday, August 29th. Mizuho raised their target price on Dell Technologies from $160.00 to $170.00 and gave the company an "outperform" rating in a research report on Wednesday, October 8th. The Goldman Sachs Group upped their price target on Dell Technologies from $155.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Finally, Raymond James Financial raised their price objective on Dell Technologies from $152.00 to $161.00 and gave the company an "outperform" rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $161.80.

Insider Activity at Dell Technologies

In other Dell Technologies news, Director V (Gp) L.L.C. Slta sold 19,256 shares of the firm's stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $154.21, for a total value of $2,969,467.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ellen Jamison Kullman sold 79,806 shares of the company's stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $153.56, for a total value of $12,255,009.36. Following the completion of the sale, the director owned 65,662 shares of the company's stock, valued at $10,083,056.72. This trade represents a 54.86% decrease in their ownership of the stock. 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 90 days. 42.00% of the stock is 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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.