Nomura Asset Management Co. Ltd. Sells 37,248 Shares of Dell Technologies Inc. $DELL

Nomura Asset Management Co. Ltd. decreased its holdings in shares of Dell Technologies Inc. (NYSE:DELL) by 6.5% during the 2nd quarter, Holdings Channel reports. The firm owned 534,922 shares of the technology company’s stock after selling 37,248 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Dell Technologies were worth $65,581,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in shares of Dell Technologies by 42.7% during the 4th quarter. Brighton Jones LLC now owns 3,011 shares of the technology company’s stock worth $347,000 after buying an additional 901 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Dell Technologies by 424.1% during the 1st quarter. Larson Financial Group LLC now owns 870 shares of the technology company’s stock valued at $79,000 after acquiring an additional 704 shares during the period. Victory Capital Management Inc. boosted its stake in Dell Technologies by 20.7% during the first quarter. Victory Capital Management Inc. now owns 130,666 shares of the technology company’s stock worth $11,910,000 after acquiring an additional 22,401 shares in the last quarter. Cullen Frost Bankers Inc. grew its holdings in Dell Technologies by 270.7% in the first quarter. Cullen Frost Bankers Inc. now owns 304 shares of the technology company’s stock worth $28,000 after purchasing an additional 222 shares during the period. Finally, South Dakota Investment Council bought a new stake in Dell Technologies in the first quarter valued at $775,000. 76.37% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director V (Gp) L.L.C. Slta sold 19,256 shares of the company’s stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $154.21, for a total value of $2,969,467.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Iv (Gp) L.L.C. Slta sold 499,999 shares of Dell Technologies 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 is available in the SEC filing. Insiders sold a total of 4,537,755 shares of company stock worth $642,644,973 in the last ninety days. 42.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DELL. The Goldman Sachs Group increased their price objective on shares of Dell Technologies from $155.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. TD Cowen increased their price target on Dell Technologies from $130.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Wall Street Zen upgraded Dell Technologies from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Susquehanna upped their target price on Dell Technologies from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. Finally, Bank of America lifted their price target on shares of Dell Technologies from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $161.35.

Dell Technologies Stock Down 8.4%

Shares of NYSE:DELL opened at $122.57 on Tuesday. The business’s 50 day moving average is $143.86 and its 200 day moving average is $129.16. Dell Technologies Inc. has a 12-month low of $66.25 and a 12-month high of $168.08. The stock has a market cap of $82.41 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 0.91 and a beta of 1.02.

Dell Technologies (NYSE:DELL) last released its quarterly 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. As a group, equities research analysts expect that Dell Technologies Inc. will post 6.93 earnings per share for the current year.

Dell Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors 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 annualized dividend and a yield of 1.7%. Dell Technologies’s payout ratio is 30.88%.

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).