Allianz Asset Management GmbH Has $18.50 Million Stake in Dell Technologies Inc. $DELL

Allianz Asset Management GmbH lowered its stake in shares of Dell Technologies Inc. (NYSE:DELL) by 21.2% in the second quarter, Holdings Channel.com reports. The firm owned 150,915 shares of the technology company’s stock after selling 40,529 shares during the period. Allianz Asset Management GmbH’s holdings in Dell Technologies were worth $18,502,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in DELL. Boston Partners boosted its stake in Dell Technologies by 34.4% during the 1st quarter. Boston Partners now owns 5,132,877 shares of the technology company’s stock valued at $466,418,000 after purchasing an additional 1,312,600 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Dell Technologies by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 29,106,218 shares of the technology company’s stock worth $2,653,032,000 after buying an additional 1,145,658 shares in the last quarter. Deutsche Bank AG lifted 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 worth $377,508,000 after buying an additional 1,142,012 shares in the last quarter. Alkeon Capital Management LLC lifted 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 worth $289,657,000 after buying an additional 931,032 shares in the last quarter. Finally, Auto Owners Insurance Co lifted its position in shares of Dell Technologies by 18,732.9% during the 1st quarter. Auto Owners Insurance Co now owns 781,000 shares of the technology company’s stock worth $71,188,000 after buying an additional 776,853 shares in the last quarter. Institutional investors and hedge funds own 76.37% of the company’s stock.

Dell Technologies Trading Down 1.1%

NYSE:DELL opened at $149.57 on Monday. The stock has a market capitalization of $100.57 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 1.02 and a beta of 1.05. The firm’s 50 day moving average is $135.90 and its 200 day moving average is $119.26. Dell Technologies Inc. has a 12 month low of $66.25 and a 12 month high of $166.10.

Dell Technologies (NYSE:DELL) last posted its quarterly earnings results on Thursday, October 5th. The technology company reported $1.68 EPS for the quarter. The company had revenue of $26.43 billion for the quarter. Dell Technologies had a net margin of 4.73% and a negative return on equity of 236.21%. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. Research analysts predict that Dell Technologies Inc. will post 6.93 earnings per share for the current 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 issued a dividend of $0.525 per share. The ex-dividend date of this dividend is Tuesday, October 21st. This represents a $2.10 dividend on an annualized basis and a yield of 1.4%. Dell Technologies’s payout ratio is presently 30.88%.

Insider Buying and Selling at Dell Technologies

In other Dell Technologies news, Director William D. Green sold 42,736 shares of the business’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $160.00, for a total transaction of $6,837,760.00. Following the sale, the director owned 47,619 shares of the company’s stock, valued at $7,619,040. The trade was a 47.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director V (Gp) L.L.C. Slta sold 19,256 shares of the business’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $154.21, for a total transaction of $2,969,467.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,617,755 shares of company stock worth $653,694,973. Company insiders own 42.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Barclays lifted their target price on shares of Dell Technologies from $133.00 to $151.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. Raymond James Financial lifted their target price on shares of Dell Technologies from $150.00 to $152.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. TD Cowen lifted their target price on shares of Dell Technologies from $130.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Morgan Stanley lifted their target price on shares of Dell Technologies from $135.00 to $144.00 and gave the stock an “overweight” rating in a research report on Thursday, August 21st. Finally, Citigroup lifted their price target on shares of Dell Technologies from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Dell Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $160.79.

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).