PNC Financial Services Group Inc. Buys 2,790 Shares of Dell Technologies Inc. $DELL

PNC Financial Services Group Inc. grew its position in Dell Technologies Inc. (NYSE:DELL) by 4.0% during the second quarter, HoldingsChannel reports. The firm owned 72,002 shares of the technology company’s stock after buying an additional 2,790 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Dell Technologies were worth $8,827,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. 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 period. Vanguard Group Inc. raised its stake in Dell Technologies by 4.1% during 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 purchasing an additional 1,145,658 shares during the last quarter. Deutsche Bank AG increased its holdings 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 purchasing an additional 1,142,012 shares during the period. Alkeon Capital Management LLC lifted its stake in shares of Dell Technologies by 41.4% in the first quarter. Alkeon Capital Management LLC now owns 3,177,809 shares of the technology company’s stock valued at $289,657,000 after buying an additional 931,032 shares during the period. Finally, Auto Owners Insurance Co grew its position in Dell Technologies by 18,732.9% during the first 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.

Analysts Set New Price Targets

Several equities analysts have commented on DELL shares. Bank of America upped their price target on Dell Technologies from $167.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Mizuho raised their target price on Dell Technologies from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Dell Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Wells Fargo & Company increased their price objective on shares of Dell Technologies from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Finally, Barclays lifted their target price on shares of Dell Technologies from $133.00 to $151.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $162.80.

Insider Activity

In other news, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $135.98, for a total value of $112,183,364.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director V (Gp) L.L.C. Slta sold 565,000 shares of Dell Technologies stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $132.32, for a total transaction of $74,760,800.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,537,755 shares of company stock valued at $642,644,973 over the last 90 days. Corporate insiders own 42.00% of the company’s stock.

Dell Technologies Price Performance

DELL opened at $133.58 on Friday. The firm has a 50 day simple moving average of $143.87 and a 200 day simple moving average of $128.69. Dell Technologies Inc. has a fifty-two week low of $66.25 and a fifty-two week high of $168.08. The company has a market cap of $89.82 billion, a price-to-earnings ratio of 19.64, a price-to-earnings-growth ratio of 0.91 and a beta of 1.02.

Dell Technologies (NYSE:DELL) last released 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 during 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, analysts expect that Dell Technologies Inc. will post 6.93 EPS for the current year.

Dell Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, October 21st were issued a dividend of $0.525 per share. The ex-dividend date was Tuesday, October 21st. This represents a $2.10 dividend on an annualized basis and a yield of 1.6%. Dell Technologies’s dividend payout ratio (DPR) is 30.88%.

Dell Technologies 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).