Empower Advisory Group LLC Acquires 4,045 Shares of Dell Technologies Inc. $DELL

Empower Advisory Group LLC lifted its holdings in shares of Dell Technologies Inc. (NYSE:DELL) by 53.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,614 shares of the technology company’s stock after buying an additional 4,045 shares during the period. Empower Advisory Group LLC’s holdings in Dell Technologies were worth $1,424,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of DELL. Vanguard Group Inc. raised its holdings in Dell Technologies by 4.1% during the first quarter. Vanguard Group Inc. now owns 29,106,218 shares of the technology company’s stock worth $2,653,032,000 after acquiring an additional 1,145,658 shares in the last quarter. Boston Partners raised its stake in shares of Dell Technologies by 14.9% during the 2nd quarter. Boston Partners now owns 5,896,622 shares of the technology company’s stock worth $724,578,000 after purchasing an additional 763,745 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Dell Technologies by 38.1% in the 1st quarter. Deutsche Bank AG now owns 4,141,618 shares of the technology company’s stock valued at $377,508,000 after buying an additional 1,142,012 shares during the last quarter. Alkeon Capital Management LLC grew its stake in shares of Dell Technologies by 41.4% in the first 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 in the last quarter. Finally, Invesco Ltd. increased its holdings in Dell Technologies by 20.5% during the first quarter. Invesco Ltd. now owns 2,952,829 shares of the technology company’s stock worth $269,150,000 after buying an additional 502,764 shares during the last quarter. Institutional investors and hedge funds own 76.37% of the company’s stock.

Insider Activity

In other Dell Technologies news, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $135.98, for a total transaction of $112,183,364.02. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director V (Gp) L.L.C. Slta sold 565,000 shares of Dell Technologies stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $132.32, for a total transaction of $74,760,800.00. The SEC filing for this sale provides additional information. Insiders sold 4,537,755 shares of company stock worth $642,644,973 over the last 90 days. 42.00% of the stock is currently owned by corporate insiders.

Dell Technologies Stock Down 0.3%

Shares of DELL stock opened at $133.58 on Friday. Dell Technologies Inc. has a 12-month low of $66.25 and a 12-month high of $168.08. The company has a market capitalization of $89.82 billion, a PE ratio of 19.64, a price-to-earnings-growth ratio of 0.91 and a beta of 1.02. The firm has a 50 day moving average price of $143.87 and a two-hundred day moving average price of $128.69.

Dell Technologies (NYSE:DELL) last posted its earnings results on Thursday, October 5th. The technology company reported $1.68 EPS for the quarter. The company 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. As a group, research analysts expect that Dell Technologies Inc. will post 6.93 EPS for the current year.

Dell Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, October 21st were issued a dividend of $0.525 per share. The ex-dividend date of this dividend was Tuesday, October 21st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.6%. Dell Technologies’s dividend payout ratio (DPR) is currently 30.88%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Raymond James Financial increased their price target on shares of Dell Technologies from $152.00 to $161.00 and gave the company an “outperform” rating in a research note on Tuesday, October 21st. Wall Street Zen raised shares of Dell Technologies from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Fox Advisors cut Dell Technologies from an “overweight” rating to an “equal weight” rating in a report on Friday, August 29th. Piper Sandler assumed coverage on Dell Technologies in a research note on Tuesday, October 21st. They issued an “overweight” rating and a $172.00 price objective on the stock. Finally, Zacks Research raised Dell Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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).