Dell Technologies (NYSE:DELL) Releases FY 2023 Earnings Guidance

Dell Technologies (NYSE:DELLGet Rating) updated its FY 2023 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $6.60-$7.00 for the period, compared to the consensus estimate of $7.01. The company issued revenue guidance of $101.20 billion-$103.22 billion, compared to the consensus revenue estimate of $106.20 billion. Dell Technologies also updated its Q3 2023 guidance to $1.53-$1.79 EPS.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DELL. Bank of America lowered their price target on Dell Technologies from $66.00 to $60.00 and set a buy rating for the company in a report on Friday, August 26th. Morgan Stanley lowered their price target on Dell Technologies from $56.00 to $54.00 and set an equal weight rating for the company in a report on Friday, August 26th. UBS Group decreased their price objective on shares of Dell Technologies from $70.00 to $65.00 and set a buy rating for the company in a research report on Friday, August 26th. The Goldman Sachs Group decreased their price objective on shares of Dell Technologies from $52.00 to $43.00 and set a neutral rating for the company in a research report on Friday, August 26th. Finally, Raymond James decreased their price objective on shares of Dell Technologies from $54.00 to $51.00 and set an outperform rating for the company in a research report on Friday, August 26th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $55.33.

Dell Technologies Stock Performance

Shares of NYSE:DELL traded down $1.21 during trading hours on Friday, hitting $35.07. The stock had a trading volume of 39,041 shares, compared to its average volume of 4,168,402. Dell Technologies has a 1-year low of $36.20 and a 1-year high of $61.54. The firm has a market capitalization of $25.70 billion, a price-to-earnings ratio of 5.13, a PEG ratio of 0.53 and a beta of 0.88. The stock’s fifty day simple moving average is $42.75 and its 200 day simple moving average is $46.06.

Dell Technologies (NYSE:DELLGet Rating) last issued its earnings results on Thursday, August 25th. The technology company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.04. The firm had revenue of $26.43 billion during the quarter, compared to analysts’ expectations of $26.47 billion. Dell Technologies had a net margin of 4.98% and a return on equity of 305.10%. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the firm posted $2.24 earnings per share. As a group, research analysts anticipate that Dell Technologies will post 5.82 EPS for the current year.

Dell Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Wednesday, October 19th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date is Tuesday, October 18th. Dell Technologies’s dividend payout ratio is 19.08%.

Insider Buying and Selling at Dell Technologies

In other Dell Technologies news, COO Anthony Charles Whitten sold 107,905 shares of Dell Technologies stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $47.70, for a total transaction of $5,147,068.50. Following the completion of the sale, the chief operating officer now owns 774,352 shares of the company’s stock, valued at approximately $36,936,590.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, COO Anthony Charles Whitten sold 107,905 shares of the firm’s stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $47.70, for a total transaction of $5,147,068.50. Following the transaction, the chief operating officer now owns 774,352 shares in the company, valued at approximately $36,936,590.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William F. Scannell sold 27,536 shares of the firm’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $40.20, for a total transaction of $1,106,947.20. Following the transaction, the insider now owns 343,835 shares in the company, valued at approximately $13,822,167. The disclosure for this sale can be found here. Company insiders own 47.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. raised its holdings in Dell Technologies by 17.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 14,076 shares of the technology company’s stock worth $706,000 after acquiring an additional 2,117 shares during the period. D.A. Davidson & CO. acquired a new stake in Dell Technologies in the 1st quarter worth $304,000. MetLife Investment Management LLC acquired a new stake in Dell Technologies in the 1st quarter worth $568,000. Rhumbline Advisers grew its position in Dell Technologies by 2.0% in the 1st quarter. Rhumbline Advisers now owns 254,266 shares of the technology company’s stock worth $12,762,000 after purchasing an additional 4,949 shares during the last quarter. Finally, Yousif Capital Management LLC grew its position in Dell Technologies by 5.2% in the 1st quarter. Yousif Capital Management LLC now owns 6,090 shares of the technology company’s stock worth $306,000 after purchasing an additional 302 shares during the last quarter. Institutional investors own 26.53% of the company’s stock.

About Dell Technologies

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Dell Technologies Inc designs, develops, manufactures, markets, sells, and supports information technology (IT) solutions, products, and services worldwide. The company operates through three segments: Infrastructure Solutions Group (ISG), Client Solutions Group (CSG), and VMware. The ISG segment provides traditional and next-generation storage solutions; and rack, blade, tower, and hyperscale servers.

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