Praxis Investment Management Inc. Boosts Holdings in Dell Technologies Inc. $DELL

Praxis Investment Management Inc. raised its holdings in shares of Dell Technologies Inc. (NYSE:DELL) by 11.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,240 shares of the technology company’s stock after acquiring an additional 830 shares during the quarter. Praxis Investment Management Inc.’s holdings in Dell Technologies were worth $1,010,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in DELL. Exchange Traded Concepts LLC boosted its stake in shares of Dell Technologies by 25.9% during the first quarter. Exchange Traded Concepts LLC now owns 2,460 shares of the technology company’s stock valued at $224,000 after acquiring an additional 506 shares during the last quarter. First Hawaiian Bank boosted its stake in shares of Dell Technologies by 67.1% during the first quarter. First Hawaiian Bank now owns 34,878 shares of the technology company’s stock valued at $3,179,000 after acquiring an additional 14,010 shares during the last quarter. Carolina Wealth Advisors LLC acquired a new stake in shares of Dell Technologies during the second quarter valued at $8,869,000. Mather Group LLC. boosted its stake in shares of Dell Technologies by 113.3% during the first quarter. Mather Group LLC. now owns 1,043 shares of the technology company’s stock valued at $95,000 after acquiring an additional 554 shares during the last quarter. Finally, Westbourne Investments Inc. boosted its stake in shares of Dell Technologies by 167.5% during the first quarter. Westbourne Investments Inc. now owns 21,808 shares of the technology company’s stock valued at $1,988,000 after acquiring an additional 13,657 shares during the last quarter. 76.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DELL has been the topic of a number of analyst reports. Argus increased their price objective on Dell Technologies from $150.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, October 9th. Sanford C. Bernstein increased their price objective on Dell Technologies from $175.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. TD Cowen increased their price objective on Dell Technologies from $130.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, October 8th. Fox Advisors downgraded Dell Technologies from an “overweight” rating to an “equal weight” rating in a research report on Friday, August 29th. Finally, Barclays increased their target price on Dell Technologies from $133.00 to $151.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Dell Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $160.79.

Dell Technologies Stock Performance

Shares of NYSE:DELL opened at $149.57 on Friday. The company has a market cap of $100.57 billion, a P/E ratio of 22.00, a PEG ratio of 1.03 and a beta of 1.05. Dell Technologies Inc. has a one year low of $66.25 and a one year high of $166.10. The business’s 50-day simple moving average is $135.90 and its 200 day simple moving average is $118.81.

Dell Technologies (NYSE:DELL) last posted its quarterly earnings data 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 company had revenue of $26.43 billion for the quarter. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. Analysts predict that Dell Technologies Inc. will post 6.93 earnings per share for the current year.

Dell Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, October 21st will be issued a dividend of $0.525 per share. The ex-dividend date is Tuesday, October 21st. This represents a $2.10 annualized dividend and a yield of 1.4%. Dell Technologies’s payout ratio is currently 30.88%.

Insider Activity at Dell Technologies

In other Dell Technologies news, Director Lake Group L.L.C. Silver sold 6,617 shares of Dell Technologies stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $151.63, for a total transaction of $1,003,335.71. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director V (Gp) L.L.C. Slta sold 19,256 shares of Dell Technologies 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 disclosure for this sale can be found here. Insiders sold 4,617,755 shares of company stock worth $653,694,973 over the last ninety days. Company 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).