Bank of Montreal Can Lowers Stock Holdings in Dell Technologies Inc. $DELL

Bank of Montreal Can lessened its holdings in Dell Technologies Inc. (NYSE:DELL) by 27.1% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 257,793 shares of the technology company’s stock after selling 96,072 shares during the period. Bank of Montreal Can’s holdings in Dell Technologies were worth $31,605,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in DELL. Vanguard Group Inc. raised its stake in Dell Technologies by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 29,106,218 shares of the technology company’s stock valued at $2,653,032,000 after purchasing an additional 1,145,658 shares during the period. Boston Partners raised its position in shares of Dell Technologies by 34.4% during the first quarter. Boston Partners now owns 5,132,877 shares of the technology company’s stock valued at $466,418,000 after buying an additional 1,312,600 shares during the last quarter. Deutsche Bank AG lifted its holdings 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 buying an additional 1,142,012 shares in the last quarter. Alkeon Capital Management LLC increased its holdings 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 valued at $289,657,000 after acquiring an additional 931,032 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Dell Technologies by 20.5% in the 1st quarter. Invesco Ltd. now owns 2,952,829 shares of the technology company’s stock worth $269,150,000 after purchasing an additional 502,764 shares in the last quarter. Institutional investors own 76.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on DELL shares. Sanford C. Bernstein lifted their target price on Dell Technologies from $175.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, October 8th. Wall Street Zen raised Dell Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. 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. Wells Fargo & Company boosted their price target 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 price target on shares of Dell Technologies and gave the company an “outperform” rating in a research note on Monday. One investment 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 presently has an average rating of “Moderate Buy” and a consensus price target of $162.80.

Dell Technologies Stock Performance

NYSE:DELL opened at $149.32 on Friday. The firm has a market capitalization of $100.40 billion, a PE ratio of 21.96, a PEG ratio of 1.04 and a beta of 1.02. The stock’s fifty day moving average is $141.98 and its 200 day moving average is $126.39. Dell Technologies Inc. has a fifty-two week low of $66.25 and a fifty-two week high of $168.08.

Dell Technologies (NYSE:DELL) last posted its quarterly earnings data on Thursday, October 5th. The technology company reported $1.68 earnings per share for the quarter. The business had revenue of $26.43 billion for 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. Equities analysts forecast that Dell Technologies Inc. will post 6.93 EPS for the current year.

Dell Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Tuesday, October 21st were paid a dividend of $0.525 per share. 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 1.4%. Dell Technologies’s dividend payout ratio is currently 30.88%.

Insider Transactions at Dell Technologies

In related news, Director Lake Group L.L.C. Silver sold 6,617 shares of the firm’s stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $151.63, for a total transaction of $1,003,335.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William D. Green sold 42,736 shares of the company’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $160.00, for a total value of $6,837,760.00. Following the completion of the transaction, the director directly owned 47,619 shares in the company, valued at $7,619,040. This trade represents a 47.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 4,587,755 shares of company stock valued at $649,644,973. Company 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).