M.E. Allison & CO. Inc. Makes New $289,000 Investment in Dell Technologies Inc. $DELL

M.E. Allison & CO. Inc. purchased a new position in shares of Dell Technologies Inc. (NYSE:DELL) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,356 shares of the technology company’s stock, valued at approximately $289,000.

A number of other institutional investors have also recently bought and sold shares of the business. Mitchell Capital Management Co. acquired a new stake in Dell Technologies during the second quarter worth $6,009,000. M3 Advisory Group LLC boosted its stake in Dell Technologies by 4.4% during the second quarter. M3 Advisory Group LLC now owns 4,228 shares of the technology company’s stock worth $518,000 after buying an additional 180 shares in the last quarter. LRI Investments LLC boosted its stake in Dell Technologies by 16.8% during the second quarter. LRI Investments LLC now owns 4,781 shares of the technology company’s stock worth $586,000 after buying an additional 688 shares in the last quarter. Alta Advisers Ltd acquired a new stake in Dell Technologies during the second quarter worth $212,000. Finally, CWM LLC boosted its stake in Dell Technologies by 95.2% during the second quarter. CWM LLC now owns 35,337 shares of the technology company’s stock worth $4,332,000 after buying an additional 17,232 shares in the last quarter. Institutional investors and hedge funds own 76.37% of the company’s stock.

Dell Technologies Stock Down 3.4%

Shares of NYSE DELL opened at $150.67 on Monday. The firm’s 50-day simple moving average is $133.98 and its 200 day simple moving average is $117.11. The company has a market cap of $101.31 billion, a price-to-earnings ratio of 22.16, a price-to-earnings-growth ratio of 1.03 and a beta of 1.05. Dell Technologies Inc. has a 12-month low of $66.25 and a 12-month high of $166.10.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings results on Thursday, October 5th. The technology company reported $1.68 earnings per share (EPS) 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. On average, equities analysts expect that Dell Technologies Inc. will post 6.93 earnings per share for the current year.

Dell Technologies Announces Dividend

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

Insider Activity

In related news, Director V (Gp) L.L.C. Slta sold 565,000 shares of the company’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $132.32, for a total transaction of $74,760,800.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $135.98, for a total value of $112,183,364.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,734,418 shares of company stock worth $666,089,211. 42.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on DELL shares. Raymond James Financial lifted their price target on shares of Dell Technologies from $150.00 to $152.00 and gave the stock an “outperform” rating in a research note on Friday, August 29th. TD Cowen boosted their target price on shares of Dell Technologies from $130.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, October 8th. Citigroup boosted their target price on shares of Dell Technologies from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday. Bank of America boosted their target price on shares of Dell Technologies from $167.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, October 1st. Finally, JPMorgan Chase & Co. boosted their target price on shares of Dell Technologies from $145.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, October 8th. Seventeen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $160.79.

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).