Dell Technologies Inc. $DELL Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System increased its holdings in shares of Dell Technologies Inc. (NYSE:DELL) by 21.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,454 shares of the technology company’s stock after acquiring an additional 2,747 shares during the period. Maryland State Retirement & Pension System’s holdings in Dell Technologies were worth $1,895,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Smallwood Wealth Investment Management LLC acquired a new stake in Dell Technologies in the 1st quarter worth about $25,000. N.E.W. Advisory Services LLC acquired a new stake in Dell Technologies in the 1st quarter worth about $26,000. Cheviot Value Management LLC acquired a new stake in Dell Technologies in the 1st quarter worth about $27,000. Flaharty Asset Management LLC acquired a new stake in Dell Technologies in the 1st quarter worth about $27,000. Finally, Cullen Frost Bankers Inc. boosted its holdings in Dell Technologies by 270.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 304 shares of the technology company’s stock worth $28,000 after buying an additional 222 shares during the last quarter. 76.37% of the stock is currently owned by institutional investors and hedge funds.

Dell Technologies Stock Performance

Dell Technologies stock opened at $150.67 on Friday. Dell Technologies Inc. has a fifty-two week low of $66.25 and a fifty-two week high of $166.10. The firm has a 50 day moving average price of $133.98 and a 200 day moving average price of $116.82. The company has a market capitalization of $101.31 billion, a PE ratio of 22.16, a price-to-earnings-growth ratio of 1.06 and a beta of 1.05.

Dell Technologies (NYSE:DELL) last posted its quarterly earnings results on Thursday, October 5th. The technology company reported $1.68 EPS for the quarter. The business had revenue of $26.43 billion during the quarter. Dell Technologies had a net margin of 4.73% and a negative return on equity of 236.21%. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. As a group, equities research analysts forecast that Dell Technologies Inc. will post 6.93 earnings per share 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 paid a $0.525 dividend. The ex-dividend date is Tuesday, October 21st. This represents a $2.10 annualized dividend and a dividend yield of 1.4%. Dell Technologies’s payout ratio is 30.88%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Raymond James Financial lifted their price objective on Dell Technologies from $150.00 to $152.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. Citigroup boosted their target price on Dell Technologies from $160.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley boosted their target price on Dell Technologies from $135.00 to $144.00 and gave the stock an “overweight” rating in a report on Thursday, August 21st. Susquehanna restated a “neutral” rating and set a $125.00 target price on shares of Dell Technologies in a report on Wednesday, August 13th. Finally, KeyCorp initiated coverage on Dell Technologies in a report on Thursday, June 26th. They set a “sector weight” rating on the stock. Seventeen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.53.

Insider Buying and Selling at Dell Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of the business’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director V (Gp) L.L.C. Slta sold 565,000 shares of the business’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $132.32, for a total transaction of $74,760,800.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,734,418 shares of company stock valued at $666,089,211. 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).