Dell Technologies Inc. $DELL Shares Purchased by WASHINGTON TRUST Co

WASHINGTON TRUST Co grew its holdings in shares of Dell Technologies Inc. (NYSE:DELL) by 11,037.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 88,100 shares of the technology company’s stock after acquiring an additional 87,309 shares during the quarter. WASHINGTON TRUST Co’s holdings in Dell Technologies were worth $10,801,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of DELL. William Allan Corp grew its holdings in Dell Technologies by 47.6% during the second quarter. William Allan Corp now owns 25,901 shares of the technology company’s stock worth $3,175,000 after acquiring an additional 8,355 shares during the period. Modera Wealth Management LLC acquired a new stake in Dell Technologies during the second quarter valued at approximately $241,000. First Hawaiian Bank grew its position in Dell Technologies by 67.1% in the first quarter. First Hawaiian Bank now owns 34,878 shares of the technology company’s stock worth $3,179,000 after buying an additional 14,010 shares during the last quarter. Carolina Wealth Advisors LLC bought a new position in shares of Dell Technologies in the second quarter valued at $8,869,000. Finally, Symphony Financial Services Inc. acquired a new stake in shares of Dell Technologies during the 2nd quarter valued at $275,000. 76.37% of the stock is owned by institutional investors and hedge funds.

Dell Technologies Stock Performance

Shares of Dell Technologies stock traded down $3.14 during trading on Thursday, hitting $137.57. 774,140 shares of the stock traded hands, compared to its average volume of 7,106,013. The stock has a market cap of $92.50 billion, a P/E ratio of 20.32, a PEG ratio of 0.95 and a beta of 1.02. The company has a fifty day moving average price of $143.56 and a two-hundred day moving average price of $128.14. Dell Technologies Inc. has a twelve month low of $66.25 and a twelve month high of $168.08.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings data 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. On average, equities research analysts expect that Dell Technologies Inc. will post 6.93 EPS for the current fiscal year.

Dell Technologies Dividend Announcement

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. This represents a $2.10 annualized dividend and a yield of 1.5%. The ex-dividend date was Tuesday, October 21st. Dell Technologies’s dividend payout ratio (DPR) is 30.88%.

Insider Buying and Selling

In other Dell Technologies news, Director William D. Green sold 42,736 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $160.00, for a total transaction of $6,837,760.00. Following the completion of the sale, the director owned 47,619 shares of the company’s stock, valued at $7,619,040. This represents a 47.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ellen Jamison Kullman sold 79,806 shares of Dell Technologies stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $153.56, for a total transaction of $12,255,009.36. Following the completion of the transaction, the director directly owned 65,662 shares in the company, valued at approximately $10,083,056.72. This represents a 54.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 4,537,755 shares of company stock valued at $642,644,973. 42.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Cowen reaffirmed a “hold” rating on shares of Dell Technologies in a research report on Friday, August 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Dell Technologies in a report on Wednesday, October 8th. Sanford C. Bernstein lifted their target price on shares of Dell Technologies from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Susquehanna boosted their price target on shares of Dell Technologies from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. Finally, TD Cowen raised their price objective on shares of Dell Technologies from $130.00 to $150.00 and gave the stock a “hold” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Dell Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $162.80.

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).