Symphony Financial Services Inc. Takes Position in Dell Technologies Inc. $DELL

Symphony Financial Services Inc. purchased a new stake in Dell Technologies Inc. (NYSE:DELL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,239 shares of the technology company’s stock, valued at approximately $275,000.

A number of other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. lifted its holdings in Dell Technologies by 4.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 72,002 shares of the technology company’s stock worth $8,827,000 after purchasing an additional 2,790 shares during the last quarter. Forsta AP Fonden increased its position in Dell Technologies by 2.0% during the second quarter. Forsta AP Fonden now owns 65,800 shares of the technology company’s stock worth $8,067,000 after acquiring an additional 1,300 shares during the period. National Pension Service increased its position in Dell Technologies by 0.4% during the second quarter. National Pension Service now owns 730,111 shares of the technology company’s stock worth $89,512,000 after acquiring an additional 3,155 shares during the period. Boston Partners boosted its holdings in 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 during the period. Finally, Robeco Schweiz AG grew its position in shares of Dell Technologies by 16.3% during the 2nd quarter. Robeco Schweiz AG now owns 105,800 shares of the technology company’s stock worth $12,971,000 after purchasing an additional 14,800 shares in the last quarter. Institutional investors own 76.37% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on DELL. Sanford C. Bernstein boosted their price target on Dell Technologies from $175.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. UBS Group upped their target price on Dell Technologies from $155.00 to $186.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. Piper Sandler initiated coverage on Dell Technologies in a research note on Tuesday, October 21st. They issued an “overweight” rating and a $172.00 price target for the company. JPMorgan Chase & Co. raised their target price on shares of Dell Technologies from $145.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group upped their price target on shares of Dell Technologies from $155.00 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, eighteen have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.80.

Dell Technologies Trading Down 2.9%

Shares of Dell Technologies stock opened at $138.61 on Wednesday. The firm has a market capitalization of $93.19 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 0.97 and a beta of 1.02. The firm’s 50 day moving average is $143.22 and its 200 day moving average is $128.05. Dell Technologies Inc. has a 1 year low of $66.25 and a 1 year high of $168.08.

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

Dell Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, October 21st were paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, October 21st. Dell Technologies’s dividend payout ratio (DPR) is presently 30.88%.

Insider Activity at Dell Technologies

In other Dell Technologies news, Director Iv (Gp) L.L.C. Slta sold 499,999 shares of the business’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $161.48, for a total transaction of $80,739,838.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director V (Gp) L.L.C. Slta sold 19,256 shares of the firm’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 SEC filing for this sale provides additional information. In the last 90 days, insiders sold 4,537,755 shares of company stock valued at $642,644,973. Corporate 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).