Pzena Investment Management LLC Buys Shares of 1,703 Dell Technologies Inc. $DELL

Pzena Investment Management LLC bought a new stake in Dell Technologies Inc. (NYSE:DELL) in the second quarter, HoldingsChannel reports. The institutional investor bought 1,703 shares of the technology company’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DELL. Boston Partners lifted its holdings in Dell Technologies by 34.4% in the first quarter. Boston Partners now owns 5,132,877 shares of the technology company’s stock valued at $466,418,000 after acquiring an additional 1,312,600 shares during the period. Vanguard Group Inc. lifted its holdings 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 acquiring an additional 1,145,658 shares during the period. Deutsche Bank AG raised its stake 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 buying an additional 1,142,012 shares during the last quarter. Alkeon Capital Management LLC raised its stake in shares of Dell Technologies by 41.4% during the 1st quarter. Alkeon Capital Management LLC now owns 3,177,809 shares of the technology company’s stock worth $289,657,000 after buying an additional 931,032 shares during the last quarter. Finally, Auto Owners Insurance Co raised its stake in shares of Dell Technologies by 18,732.9% during the 1st quarter. Auto Owners Insurance Co now owns 781,000 shares of the technology company’s stock worth $71,188,000 after buying an additional 776,853 shares during the last quarter. Institutional investors and hedge funds own 76.37% of the company’s stock.

Dell Technologies Trading Up 1.9%

Dell Technologies stock opened at $153.42 on Tuesday. The stock has a market cap of $103.16 billion, a PE ratio of 22.56, a P/E/G ratio of 1.03 and a beta of 1.05. The stock has a 50-day moving average price of $134.44 and a 200 day moving average price of $117.53. Dell Technologies Inc. has a 52 week low of $66.25 and a 52 week high of $166.10.

Dell Technologies (NYSE:DELL) last posted its quarterly earnings data on Thursday, October 5th. The technology company reported $1.68 EPS for the quarter. The firm 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. On average, equities analysts predict that Dell Technologies Inc. will post 6.93 EPS for the current year.

Dell Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, October 21st will be issued a $0.525 dividend. 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 30.88%.

Analyst Ratings Changes

Several research analysts have recently issued reports on DELL shares. Susquehanna lifted their price target on Dell Technologies from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 8th. Wall Street Zen raised Dell Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Citigroup lifted their price target on Dell Technologies from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Argus lifted their price target on Dell Technologies from $150.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dell Technologies in a research note on Wednesday, October 8th. Seventeen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.79.

Insider Buying and Selling at Dell Technologies

In other Dell Technologies news, Director Iv (Gp) L.L.C. Slta sold 499,999 shares of Dell Technologies stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $161.48, for a total value of $80,739,838.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director V (Gp) L.L.C. Slta sold 19,256 shares of Dell Technologies stock in a transaction dated Tuesday, October 7th. The shares were 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 4,561,318 shares of company stock worth $644,276,880 in the last 90 days. 42.00% of the stock is owned by company insiders.

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).