Dell Technologies Inc. $DELL Stake Lessened by State of Michigan Retirement System

State of Michigan Retirement System cut its stake in Dell Technologies Inc. (NYSE:DELL) by 1.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,538 shares of the technology company’s stock after selling 1,120 shares during the period. State of Michigan Retirement System’s holdings in Dell Technologies were worth $12,081,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Dell Technologies by 4.1% during the first quarter. Vanguard Group Inc. now owns 29,106,218 shares of the technology company’s stock worth $2,653,032,000 after buying an additional 1,145,658 shares in the last quarter. Boston Partners boosted its holdings in Dell Technologies by 34.4% during the first 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 in the last quarter. Deutsche Bank AG boosted its holdings in Dell Technologies by 38.1% during the first quarter. Deutsche Bank AG now owns 4,141,618 shares of the technology company’s stock worth $377,508,000 after buying an additional 1,142,012 shares in the last quarter. Alkeon Capital Management LLC boosted its holdings in Dell Technologies by 41.4% during the first quarter. Alkeon Capital Management LLC now owns 3,177,809 shares of the technology company’s stock worth $289,657,000 after buying an additional 931,032 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in Dell Technologies by 20.5% during the first quarter. Invesco Ltd. now owns 2,952,829 shares of the technology company’s stock worth $269,150,000 after buying an additional 502,764 shares in the last quarter. 76.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DELL. Wells Fargo & Company raised their target price on shares of Dell Technologies from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, October 8th. Cowen reaffirmed a “hold” rating on shares of Dell Technologies in a research note on Friday, August 29th. UBS Group raised their price objective on shares of Dell Technologies from $155.00 to $186.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. The Goldman Sachs Group raised their price objective on shares of Dell Technologies from $155.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Citigroup raised their price objective on shares of Dell Technologies from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $162.80.

Dell Technologies Stock Down 1.3%

DELL stock opened at $159.94 on Tuesday. Dell Technologies Inc. has a 12-month low of $66.25 and a 12-month high of $168.08. The company has a market cap of $107.54 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.11 and a beta of 1.02. The company has a 50 day moving average of $140.82 and a two-hundred day moving average of $125.56.

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. Dell Technologies had a net margin of 4.73% and a negative return on equity of 236.21%. The company had revenue of $26.43 billion during the quarter. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. On average, research analysts anticipate 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 $0.525 dividend. The ex-dividend date was Tuesday, October 21st. This represents a $2.10 dividend on an annualized basis and a yield of 1.3%. Dell Technologies’s dividend payout ratio is presently 30.88%.

Insider Buying and Selling

In other news, Director Lake Group L.L.C. Silver sold 6,617 shares of the firm’s stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $151.63, for a total transaction of $1,003,335.71. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ellen Jamison Kullman sold 79,806 shares of the firm’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 transaction, the director owned 65,662 shares in the company, valued at $10,083,056.72. This represents a 54.86% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 4,587,755 shares of company stock worth $649,644,973. Insiders own 42.00% of the company’s stock.

Dell Technologies 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).