SouthState Corp Purchases 10,264 Shares of Dell Technologies Inc. $DELL

SouthState Corp grew its position in Dell Technologies Inc. (NYSE:DELL) by 52.3% in the second quarter, Holdings Channel reports. The fund owned 29,884 shares of the technology company’s stock after acquiring an additional 10,264 shares during the quarter. SouthState Corp’s holdings in Dell Technologies were worth $3,664,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. N.E.W. Advisory Services LLC bought a new position in shares of Dell Technologies in the 1st quarter valued at $26,000. Cheviot Value Management LLC bought a new position in Dell Technologies during the 1st quarter worth $27,000. Flaharty Asset Management LLC bought a new position in Dell Technologies during the 1st quarter worth $27,000. Westside Investment Management Inc. raised its position in Dell Technologies by 84.7% during the 2nd quarter. Westside Investment Management Inc. now owns 218 shares of the technology company’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Finally, Cullen Frost Bankers Inc. raised its position in Dell Technologies by 270.7% during the 1st quarter. Cullen Frost Bankers Inc. now owns 304 shares of the technology company’s stock worth $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

DELL has been the subject of several research analyst reports. The Goldman Sachs Group lifted their price objective on Dell Technologies from $155.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. lifted their price objective on Dell Technologies from $145.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Bank of America boosted their target price on Dell Technologies from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Evercore ISI set a $180.00 target price on Dell Technologies and gave the company an “outperform” rating in a research report on Monday. Finally, Piper Sandler began coverage on Dell Technologies in a report on Tuesday, October 21st. They set an “overweight” rating and a $172.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $162.80.

Insider Activity

In other Dell Technologies news, Director William D. Green sold 42,736 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $160.00, for a total transaction of $6,837,760.00. Following the sale, the director owned 47,619 shares in the company, valued at $7,619,040. This represents a 47.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ellen Jamison Kullman sold 79,806 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $153.56, for a total value of $12,255,009.36. Following the sale, the director owned 65,662 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 4,587,755 shares of company stock valued at $649,644,973. 42.00% of the stock is currently owned by corporate insiders.

Dell Technologies Trading Down 1.4%

Shares of NYSE DELL opened at $152.44 on Thursday. The stock has a fifty day simple moving average of $141.69 and a two-hundred day simple moving average of $126.23. Dell Technologies Inc. has a 1-year low of $66.25 and a 1-year high of $168.08. The firm has a market cap of $102.50 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 1.05 and a beta of 1.02.

Dell Technologies (NYSE:DELL) last announced its quarterly earnings data on Thursday, October 5th. The technology company reported $1.68 earnings per share 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 during the quarter. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. Analysts forecast that Dell Technologies Inc. will post 6.93 EPS for the current year.

Dell Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, October 21st were given a dividend of $0.525 per share. The ex-dividend date was Tuesday, October 21st. This represents a $2.10 annualized dividend and a dividend yield of 1.4%. Dell Technologies’s dividend payout ratio is currently 30.88%.

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).