Symphony Financial Services Inc. Buys New Position in Dell Technologies Inc. $DELL

Symphony Financial Services Inc. purchased a new position in Dell Technologies Inc. (NYSE:DELL) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,239 shares of the technology company’s stock, valued at approximately $275,000.

Several other large investors also recently modified their holdings of the company. Boston Partners raised its position in shares of Dell Technologies by 34.4% in the 1st quarter. Boston Partners now owns 5,132,877 shares of the technology company’s stock worth $466,418,000 after acquiring an additional 1,312,600 shares in the last quarter. Vanguard Group Inc. increased its stake in Dell Technologies by 4.1% in the first 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 in the last quarter. Deutsche Bank AG boosted its position 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 in the last quarter. Alkeon Capital Management LLC grew its stake in shares of Dell Technologies by 41.4% in the 1st 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 increased its position in Dell Technologies by 18,732.9% in the 1st quarter. Auto Owners Insurance Co now owns 781,000 shares of the technology company’s stock valued at $71,188,000 after buying an additional 776,853 shares in the last quarter. 76.37% of the stock is currently owned by institutional investors and hedge funds.

Dell Technologies Stock Down 2.9%

Dell Technologies stock opened at $138.61 on Wednesday. The stock has a market cap of $93.19 billion, a P/E ratio of 20.38, a P/E/G ratio of 0.97 and a beta of 1.02. The company’s 50 day moving average price is $143.22 and its two-hundred day moving average price is $128.05. Dell Technologies Inc. has a 52 week low of $66.25 and a 52 week high of $168.08.

Dell Technologies (NYSE:DELL) last posted its quarterly earnings data on Thursday, October 5th. The technology company reported $1.68 earnings per share for the quarter. The business had revenue of $26.43 billion for 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. On average, equities analysts anticipate 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. Stockholders of record on Tuesday, October 21st were given 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 is currently 30.88%.

Wall Street Analyst Weigh In

DELL has been the subject of a number of research reports. UBS Group raised their price objective on Dell Technologies from $155.00 to $186.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. The Goldman Sachs Group boosted their price target on shares of Dell Technologies from $155.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Sanford C. Bernstein raised their price objective on shares of Dell Technologies from $175.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, October 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Dell Technologies in a report on Wednesday, October 8th. Finally, Wall Street Zen raised Dell Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $162.80.

Insider Buying and Selling

In related news, 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 shares were sold at an average price of $154.21, for a total value of $2,969,467.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Lake Group L.L.C. Silver sold 6,617 shares of the stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $151.63, for a total value of $1,003,335.71. 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 worth $642,644,973 in the last three months. Insiders own 42.00% of the company’s stock.

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).