Parker Investment Management LLC Boosts Stock Holdings in Dell Technologies Inc. $DELL

Parker Investment Management LLC increased its position in shares of Dell Technologies Inc. (NYSE:DELL) by 4.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,411 shares of the technology company’s stock after buying an additional 806 shares during the period. Dell Technologies accounts for 0.3% of Parker Investment Management LLC’s holdings, making the stock its 20th biggest position. Parker Investment Management LLC’s holdings in Dell Technologies were worth $2,135,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DELL. Vanguard Group Inc. boosted its stake 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 acquiring an additional 1,145,658 shares in the last quarter. Boston Partners increased its stake in shares of Dell Technologies by 14.9% in the 2nd quarter. Boston Partners now owns 5,896,622 shares of the technology company’s stock valued at $724,578,000 after purchasing an additional 763,745 shares in the last quarter. Deutsche Bank AG raised its holdings in Dell Technologies by 38.1% in the 1st quarter. Deutsche Bank AG now owns 4,141,618 shares of the technology company’s stock worth $377,508,000 after purchasing an additional 1,142,012 shares during the period. Alkeon Capital Management LLC boosted its position in Dell Technologies by 41.4% during the first quarter. Alkeon Capital Management LLC now owns 3,177,809 shares of the technology company’s stock worth $289,657,000 after purchasing an additional 931,032 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Dell Technologies by 20.5% in the first 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. Hedge funds and other institutional investors own 76.37% of the company’s stock.

Dell Technologies Trading Down 0.3%

DELL stock opened at $133.58 on Friday. The firm has a 50-day moving average of $143.87 and a two-hundred day moving average of $128.69. Dell Technologies Inc. has a 12 month low of $66.25 and a 12 month high of $168.08. The company has a market cap of $89.82 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 0.91 and a beta of 1.02.

Dell Technologies (NYSE:DELL) last posted its quarterly earnings results on Thursday, October 5th. The technology company reported $1.68 earnings per share (EPS) for the quarter. Dell Technologies had a negative return on equity of 236.21% and a net margin of 4.73%.The business had revenue of $26.43 billion during the quarter. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. As a group, equities analysts forecast that Dell Technologies Inc. will post 6.93 earnings per share for the current year.

Dell Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, October 21st were issued a $0.525 dividend. The ex-dividend date of this dividend was Tuesday, October 21st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.6%. Dell Technologies’s dividend payout ratio is currently 30.88%.

Insider Activity

In other Dell Technologies news, Director Ellen Jamison Kullman sold 79,806 shares of Dell Technologies stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $153.56, for a total transaction of $12,255,009.36. Following the transaction, the director directly owned 65,662 shares of the company’s stock, valued at $10,083,056.72. The trade was a 54.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William D. Green sold 42,736 shares of the stock in a transaction that occurred 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 completion of the sale, the director directly owned 47,619 shares of the company’s stock, valued at approximately $7,619,040. This trade represents a 47.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,537,755 shares of company stock valued at $642,644,973 in the last quarter. Insiders own 42.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on DELL. Raymond James Financial upped their target price on Dell Technologies from $152.00 to $161.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Bank of America upped their price objective on shares of Dell Technologies from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Piper Sandler assumed coverage on shares of Dell Technologies in a research report on Tuesday, October 21st. They issued an “overweight” rating and a $172.00 target price on the stock. JPMorgan Chase & Co. upped their price target on shares of Dell Technologies from $145.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Finally, Mizuho lifted their price objective on Dell Technologies from $160.00 to $170.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $162.80.

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).