Shorepath Capital Management LLC Raises Stock Position in Dell Technologies Inc. $DELL

Shorepath Capital Management LLC boosted its position in Dell Technologies Inc. (NYSE:DELL) by 0.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 68,024 shares of the technology company’s stock after buying an additional 176 shares during the quarter. Dell Technologies makes up about 6.9% of Shorepath Capital Management LLC’s investment portfolio, making the stock its 6th largest position. Shorepath Capital Management LLC’s holdings in Dell Technologies were worth $8,340,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DELL. Smallwood Wealth Investment Management LLC bought a new stake in Dell Technologies in the 1st quarter valued at about $25,000. N.E.W. Advisory Services LLC bought a new stake in Dell Technologies in the 1st quarter valued at about $26,000. Cheviot Value Management LLC bought a new stake in Dell Technologies in the 1st quarter valued at about $27,000. Flaharty Asset Management LLC bought a new stake in Dell Technologies in the 1st quarter valued at about $27,000. Finally, Cullen Frost Bankers Inc. lifted its position in Dell Technologies by 270.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 304 shares of the technology company’s stock valued at $28,000 after purchasing an additional 222 shares during the last quarter. 76.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on DELL shares. Fox Advisors downgraded shares of Dell Technologies from an “overweight” rating to an “equal weight” rating in a research report on Friday, August 29th. Piper Sandler started coverage on shares of Dell Technologies in a research report on Tuesday, October 21st. They set an “overweight” rating and a $172.00 price target on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Dell Technologies in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price target on shares of Dell Technologies from $145.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their price target on shares of Dell Technologies from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. One 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $161.80.

Dell Technologies Price Performance

Shares of DELL opened at $163.41 on Thursday. The firm’s 50 day moving average is $138.95 and its 200-day moving average is $123.67. The stock has a market capitalization of $109.88 billion, a P/E ratio of 24.03, a P/E/G ratio of 1.12 and a beta of 1.05. Dell Technologies Inc. has a 12-month low of $66.25 and a 12-month high of $167.94.

Dell Technologies (NYSE:DELL) last announced its quarterly earnings data on Thursday, October 5th. The technology company reported $1.68 earnings per share (EPS) for the quarter. The company had revenue of $26.43 billion for 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 EPS for the current fiscal year.

Dell Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, October 21st will be paid a $0.525 dividend. The ex-dividend date of this dividend is Tuesday, October 21st. This represents a $2.10 annualized dividend and a dividend yield of 1.3%. Dell Technologies’s payout ratio is currently 30.88%.

Insider Activity at Dell Technologies

In other news, 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 value of $74,760,800.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of Dell Technologies stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $135.98, for a total transaction of $112,183,364.02. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 4,587,755 shares of company stock worth $649,644,973. 42.00% of the stock is currently owned by insiders.

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).