Wingate Wealth Advisors Inc. Purchases New Position in Dell Technologies Inc. $DELL

Key Points

• Wingate Wealth Advisors Inc. acquired 2,024 shares of Dell Technologies Inc. valued at approximately $248,000 in the second quarter, contributing to a growing trend of institutional investment in the company.
• Insiders of Dell Technologies recently sold over 4.6 million shares, totaling nearly $654 million in value, raising concerns about insider confidence in the company's future.
• Dell Technologies announced a quarterly dividend of $0.525 per share, set to be paid on October 31st, with an annualized yield of 1.4%.

Wingate Wealth Advisors Inc. acquired a new stake in Dell Technologies Inc. (NYSE:DELL - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,024 shares of the technology company's stock, valued at approximately $248,000.

Several other institutional investors have also recently bought and sold shares of the business. Signature Estate & Investment Advisors LLC bought a new position in Dell Technologies in the 2nd quarter valued at $238,000. Conway Capital Management Inc. bought a new position in Dell Technologies in the 2nd quarter valued at $245,000. Citizens Business Bank raised its position in Dell Technologies by 4.0% in the 2nd quarter. Citizens Business Bank now owns 32,478 shares of the technology company's stock valued at $3,982,000 after purchasing an additional 1,250 shares during the last quarter. Tradewinds Capital Management LLC raised its position in Dell Technologies by 4.9% in the 2nd quarter. Tradewinds Capital Management LLC now owns 2,130 shares of the technology company's stock valued at $261,000 after purchasing an additional 100 shares during the last quarter. Finally, Arista Wealth Management LLC bought a new position in Dell Technologies in the 2nd quarter valued at $1,191,000. Institutional investors own 76.37% of the company's stock.

Insider Transactions 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 dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of the business's stock in a transaction dated Monday, September 22nd. The shares were 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. Over the last three months, insiders sold 4,617,755 shares of company stock valued at $653,694,973. Insiders own 42.00% of the company's stock.

Dell Technologies Trading Down 1.1%

NYSE DELL opened at $149.57 on Friday. The stock has a 50-day simple moving average of $135.90 and a 200 day simple moving average of $118.97. The company has a market capitalization of $100.57 billion, a PE ratio of 22.00, a P/E/G ratio of 1.02 and a beta of 1.05. Dell Technologies Inc. has a 12 month low of $66.25 and a 12 month high of $166.10.

Dell Technologies (NYSE:DELL - Get Free Report) last released its quarterly earnings data 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. As a group, sell-side analysts predict 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 $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, October 21st. Dell Technologies's payout ratio is presently 30.88%.

Wall Street Analyst Weigh In

DELL has been the subject of a number of recent research reports. Zacks Research upgraded Dell Technologies from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 13th. Argus boosted their target price on Dell Technologies from $150.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, October 9th. UBS Group boosted their target price on Dell Technologies from $155.00 to $186.00 and gave the stock a "buy" rating in a research report on Wednesday, October 8th. Barclays boosted their target price on Dell Technologies from $133.00 to $151.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 8th. Finally, Fox Advisors downgraded Dell Technologies from an "overweight" rating to an "equal weight" rating in a research report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $160.79.

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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