Simmons Bank Sells 565 Shares of Dell Technologies Inc. $DELL

Simmons Bank cut its holdings in Dell Technologies Inc. (NYSE:DELL) by 1.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 45,442 shares of the technology company’s stock after selling 565 shares during the period. Simmons Bank’s holdings in Dell Technologies were worth $5,571,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. William Allan Corp increased its stake in shares of Dell Technologies by 47.6% in the second quarter. William Allan Corp now owns 25,901 shares of the technology company’s stock worth $3,175,000 after purchasing an additional 8,355 shares during the period. First Hawaiian Bank increased its position in Dell Technologies by 67.1% during the first quarter. First Hawaiian Bank now owns 34,878 shares of the technology company’s stock worth $3,179,000 after acquiring an additional 14,010 shares during the period. Carolina Wealth Advisors LLC bought a new position in Dell Technologies during the second quarter worth $8,869,000. Planning Directions Inc. bought a new position in Dell Technologies during the second quarter worth $310,000. Finally, Buck Wealth Strategies LLC bought a new position in Dell Technologies during the second quarter worth $238,000. 76.37% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Iv (Gp) L.L.C. Slta sold 499,999 shares of the business’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $161.48, for a total value of $80,739,838.52. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ellen Jamison Kullman sold 79,806 shares of the business’s stock in a transaction 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 sale, the director owned 65,662 shares in the company, valued at $10,083,056.72. This represents a 54.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,587,755 shares of company stock worth $649,644,973 in the last three months. Company insiders own 42.00% of the company’s stock.

Dell Technologies Trading Down 3.5%

DELL stock opened at $154.44 on Wednesday. The firm has a market cap of $103.84 billion, a P/E ratio of 22.71, a P/E/G ratio of 1.09 and a beta of 1.02. Dell Technologies Inc. has a 1-year low of $66.25 and a 1-year high of $168.08. The business’s 50 day moving average is $141.29 and its 200-day moving average is $126.05.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DELL. TD Cowen boosted their target price on shares of Dell Technologies from $130.00 to $150.00 and gave the stock a “hold” rating in a research report on Wednesday, October 8th. Argus boosted their target price on shares of Dell Technologies from $150.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, October 9th. Barclays boosted their target price on shares of Dell Technologies from $133.00 to $151.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. Wells Fargo & Company boosted their target price 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. Finally, Evercore ISI set a $180.00 target price on shares of Dell Technologies and gave the stock an “outperform” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Dell Technologies has a consensus rating of “Moderate Buy” and an average target price of $162.80.

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).