Dell Technologies Inc. $DELL Shares Purchased by Benson Investment Management Company Inc.

Benson Investment Management Company Inc. boosted its holdings in Dell Technologies Inc. (NYSE:DELL) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,421 shares of the technology company’s stock after acquiring an additional 86 shares during the quarter. Dell Technologies accounts for 2.1% of Benson Investment Management Company Inc.’s portfolio, making the stock its 21st largest position. Benson Investment Management Company Inc.’s holdings in Dell Technologies were worth $5,446,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Dell Technologies by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 29,106,218 shares of the technology company’s stock valued at $2,653,032,000 after acquiring an additional 1,145,658 shares during the period. Boston Partners increased its position in Dell Technologies by 34.4% in the 1st quarter. Boston Partners now owns 5,132,877 shares of the technology company’s stock valued at $466,418,000 after acquiring an additional 1,312,600 shares during the period. Deutsche Bank AG increased 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 during the period. Alkeon Capital Management LLC increased 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 during the period. Finally, Invesco Ltd. increased its position in shares of Dell Technologies by 20.5% during the 1st quarter. Invesco Ltd. now owns 2,952,829 shares of the technology company’s stock valued at $269,150,000 after purchasing an additional 502,764 shares during the period. 76.37% of the stock is currently owned by institutional investors and hedge funds.

Dell Technologies Stock Down 3.4%

Shares of Dell Technologies stock opened at $150.67 on Friday. The stock has a market cap of $101.31 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 1.06 and a beta of 1.05. The business has a fifty day simple moving average of $133.98 and a 200-day simple moving average of $116.82. Dell Technologies Inc. has a 12 month low of $66.25 and a 12 month high of $166.10.

Dell Technologies (NYSE:DELL) last issued its earnings results 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. Analysts expect that Dell Technologies Inc. will post 6.93 EPS for the current fiscal year.

Dell Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, October 21st will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, October 21st. Dell Technologies’s dividend payout ratio (DPR) is currently 30.88%.

Insider Buying and Selling

In related news, Director William D. Green sold 42,736 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $160.00, for a total transaction of $6,837,760.00. Following the completion of the sale, the director directly owned 47,619 shares in the company, valued at approximately $7,619,040. This trade represents a 47.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 499,999 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $161.48, for a total value of $80,739,838.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,734,418 shares of company stock worth $666,089,211. Corporate insiders own 42.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on DELL shares. Mizuho lifted their price target on Dell Technologies from $160.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday. Wall Street Zen upgraded Dell Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. Argus lifted their price target on Dell Technologies from $150.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday. Citigroup lifted their price target on Dell Technologies from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, TD Cowen raised their price objective on Dell Technologies from $130.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday. Seventeen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Dell Technologies has a consensus rating of “Moderate Buy” and an average target price of $160.53.

Dell Technologies Company 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).