Facet Wealth Inc. Takes $271,000 Position in Dell Technologies Inc. $DELL

Facet Wealth Inc. acquired a new stake in Dell Technologies Inc. (NYSE:DELL) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,043 shares of the technology company’s stock, valued at approximately $271,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its stake in Dell Technologies by 67.8% during the 2nd quarter. Teacher Retirement System of Texas now owns 104,245 shares of the technology company’s stock valued at $12,780,000 after purchasing an additional 42,121 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Dell Technologies during the second quarter valued at about $10,264,000. Bessemer Group Inc. boosted its stake in Dell Technologies by 22.0% during the second quarter. Bessemer Group Inc. now owns 2,179 shares of the technology company’s stock valued at $266,000 after buying an additional 393 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Dell Technologies during the 2nd quarter valued at about $364,000. Finally, Envestnet Asset Management Inc. boosted its position in shares of Dell Technologies by 18.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 829,777 shares of the technology company’s stock valued at $101,726,000 after purchasing an additional 127,217 shares in the last quarter. 76.37% of the stock is owned by institutional investors.

Dell Technologies Stock Up 2.3%

Shares of DELL opened at $162.30 on Tuesday. The company’s fifty day moving average is $137.66 and its 200-day moving average is $122.50. Dell Technologies Inc. has a 12 month low of $66.25 and a 12 month high of $166.10. The firm has a market cap of $109.12 billion, a price-to-earnings ratio of 23.87, a price-to-earnings-growth ratio of 1.08 and a beta of 1.05.

Dell Technologies (NYSE:DELL) last posted its earnings results on Thursday, October 5th. The technology company reported $1.68 EPS for the quarter. The firm 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. As a group, research analysts predict that Dell Technologies Inc. will post 6.93 earnings per share 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. Stockholders of record on Tuesday, October 21st will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, October 21st. Dell Technologies’s dividend payout ratio (DPR) is currently 30.88%.

Wall Street Analyst Weigh In

A number of research firms recently commented on DELL. Mizuho raised their price objective on shares of Dell Technologies from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dell Technologies in a research report on Wednesday, October 8th. Zacks Research upgraded Dell Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Sanford C. Bernstein upped their target price on Dell Technologies from $175.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, October 8th. Finally, Bank of America upped their price objective on shares of Dell Technologies from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $161.80.

Insider Buying and Selling

In other Dell Technologies news, Director Iv (Gp) L.L.C. Slta sold 499,999 shares of the firm’s stock in a transaction that occurred 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William D. Green sold 42,736 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $160.00, for a total value of $6,837,760.00. Following the completion of the sale, the director directly owned 47,619 shares in the company, valued at $7,619,040. This trade represents a 47.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,587,755 shares of company stock valued at $649,644,973 in the last quarter. Insiders own 42.00% of the company’s stock.

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).