Eastern Bank Sells 604 Shares of Dell Technologies Inc. $DELL

Eastern Bank reduced its position in Dell Technologies Inc. (NYSE:DELL) by 17.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,794 shares of the technology company’s stock after selling 604 shares during the quarter. Eastern Bank’s holdings in Dell Technologies were worth $343,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of DELL. Boston Partners boosted its holdings in Dell Technologies by 34.4% in the 1st quarter. Boston Partners now owns 5,132,877 shares of the technology company’s stock worth $466,418,000 after buying an additional 1,312,600 shares during the period. Vanguard Group Inc. boosted its stake in shares of Dell Technologies by 4.1% in 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 during the period. Deutsche Bank AG boosted its stake in shares of Dell Technologies by 38.1% in the first quarter. Deutsche Bank AG now owns 4,141,618 shares of the technology company’s stock worth $377,508,000 after acquiring an additional 1,142,012 shares during the period. Alkeon Capital Management LLC boosted its stake in Dell Technologies by 41.4% in the 1st quarter. Alkeon Capital Management LLC now owns 3,177,809 shares of the technology company’s stock worth $289,657,000 after purchasing an additional 931,032 shares during the period. Finally, Auto Owners Insurance Co boosted its stake in Dell Technologies by 18,732.9% in the 1st quarter. Auto Owners Insurance Co now owns 781,000 shares of the technology company’s stock worth $71,188,000 after purchasing an additional 776,853 shares during the period. Institutional investors own 76.37% of the company’s stock.

Dell Technologies Stock Down 3.4%

Shares of DELL opened at $150.67 on Monday. The business has a fifty day moving average of $133.98 and a 200 day moving average of $117.11. The company has a market cap of $101.31 billion, a PE ratio of 22.16, a P/E/G ratio of 1.03 and a beta of 1.05. Dell Technologies Inc. has a 52-week low of $66.25 and a 52-week high of $166.10.

Dell Technologies (NYSE:DELL) last released its earnings results on Thursday, October 5th. The technology company reported $1.68 earnings per share (EPS) for the quarter. The firm 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, research analysts anticipate that Dell Technologies Inc. will post 6.93 earnings per share for the current fiscal year.

Dell Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, October 21st will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, October 21st. Dell Technologies’s dividend payout ratio (DPR) is currently 30.88%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Fox Advisors lowered shares of Dell Technologies from an “overweight” rating to an “equal weight” rating in a research report on Friday, August 29th. JPMorgan Chase & Co. increased their price objective on shares of Dell Technologies from $145.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Sanford C. Bernstein increased their price target on Dell Technologies from $175.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday. Wall Street Zen raised Dell Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Finally, Daiwa Capital Markets increased their target price on Dell Technologies from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, September 11th. Seventeen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $160.79.

Insider Buying and Selling

In other news, Director William D. Green sold 42,736 shares of Dell Technologies 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 completion of the sale, the director directly owned 47,619 shares in the company, valued at approximately $7,619,040. This trade represents a 47.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Iv (Gp) L.L.C. Slta sold 499,999 shares of Dell Technologies stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $161.48, for a total value of $80,739,838.52. The disclosure for this sale can be found here. In the last three months, 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).