Savvy Advisors Inc. Purchases Shares of 2,383 Dell Technologies Inc. $DELL

Savvy Advisors Inc. acquired a new stake in Dell Technologies Inc. (NYSE:DELL) in the 2nd quarter, Holdings Channel reports. The firm acquired 2,383 shares of the technology company’s stock, valued at approximately $292,000.

A number of other large investors have also recently made changes to their positions in DELL. Shorepath Capital Management LLC raised its holdings in Dell Technologies by 0.3% in the second quarter. Shorepath Capital Management LLC now owns 68,024 shares of the technology company’s stock valued at $8,340,000 after acquiring an additional 176 shares in the last quarter. Assetmark Inc. increased its position in shares of Dell Technologies by 1,738.9% in the 2nd quarter. Assetmark Inc. now owns 7,466 shares of the technology company’s stock valued at $915,000 after purchasing an additional 7,060 shares during the last quarter. Keybank National Association OH raised its holdings in shares of Dell Technologies by 6.6% in the 2nd quarter. Keybank National Association OH now owns 11,165 shares of the technology company’s stock valued at $1,369,000 after purchasing an additional 694 shares in the last quarter. HBK Sorce Advisory LLC lifted its position in shares of Dell Technologies by 8.5% during the 2nd quarter. HBK Sorce Advisory LLC now owns 2,552 shares of the technology company’s stock worth $313,000 after purchasing an additional 201 shares during the last quarter. Finally, Buck Wealth Strategies LLC acquired a new position in shares of Dell Technologies during the second quarter worth $238,000. 76.37% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Dell Technologies

In related news, 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 transaction of $12,255,009.36. Following the completion of the sale, the director directly owned 65,662 shares of the company’s stock, valued at $10,083,056.72. This trade represents a 54.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director V (Gp) L.L.C. Slta sold 19,256 shares of the business’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $154.21, for a total transaction of $2,969,467.76. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 4,587,755 shares of company stock valued at $649,644,973. Corporate insiders own 42.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on DELL shares. Argus lifted their price target on Dell Technologies from $150.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Citigroup boosted their target price on Dell Technologies from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Dell Technologies in a research note on Wednesday, October 8th. Mizuho boosted their price objective on shares of Dell Technologies from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Finally, Fox Advisors cut shares of Dell Technologies from an “overweight” rating to an “equal weight” rating in a report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $161.80.

Dell Technologies Price Performance

Shares of NYSE:DELL opened at $162.04 on Monday. The stock has a market cap of $108.95 billion, a P/E ratio of 23.83, a P/E/G ratio of 1.11 and a beta of 1.02. Dell Technologies Inc. has a 1-year low of $66.25 and a 1-year high of $167.94. The firm has a fifty day moving average price of $140.24 and a 200 day moving average price of $125.03.

Dell Technologies (NYSE:DELL) last announced its earnings results on Thursday, October 5th. The technology company reported $1.68 earnings per share for the quarter. Dell Technologies had a net margin of 4.73% and a negative return on equity of 236.21%. The business had revenue of $26.43 billion during the quarter. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. Sell-side analysts expect that Dell Technologies Inc. will post 6.93 EPS for the current fiscal year.

Dell Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, October 21st were issued a $0.525 dividend. The ex-dividend date of this dividend was Tuesday, October 21st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.3%. Dell Technologies’s payout ratio is presently 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).