Wedbush Securities Inc. Trims Position in Dell Technologies Inc. $DELL

Wedbush Securities Inc. decreased its holdings in shares of Dell Technologies Inc. (NYSE:DELL) by 9.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 34,192 shares of the technology company’s stock after selling 3,485 shares during the quarter. Wedbush Securities Inc.’s holdings in Dell Technologies were worth $4,192,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Westside Investment Management Inc. lifted its position in Dell Technologies by 84.7% during the 2nd quarter. Westside Investment Management Inc. now owns 218 shares of the technology company’s stock worth $27,000 after acquiring an additional 100 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of Dell Technologies during the second quarter worth $29,000. NewSquare Capital LLC grew its position in Dell Technologies by 96.9% in the 2nd quarter. NewSquare Capital LLC now owns 254 shares of the technology company’s stock valued at $31,000 after buying an additional 125 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in Dell Technologies in the 1st quarter valued at $26,000. Finally, Cheviot Value Management LLC acquired a new stake in shares of Dell Technologies in the 1st quarter worth $27,000. Institutional investors and hedge funds own 76.37% of the company’s stock.

Insider Transactions at Dell Technologies

In other Dell Technologies news, Director Ellen Jamison Kullman sold 79,806 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director directly owned 65,662 shares in the company, valued at approximately $10,083,056.72. This trade represents a 54.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William D. Green sold 42,736 shares of the company’s stock in a transaction dated Wednesday, October 8th. The shares were 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 $7,619,040. This trade represents a 47.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 4,587,755 shares of company stock worth $649,644,973 in the last 90 days. Insiders own 42.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. 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 note on Wednesday, October 8th. The Goldman Sachs Group boosted their target price on Dell Technologies from $155.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Dell Technologies in a report on Wednesday, October 8th. Barclays upped their price objective on Dell Technologies from $133.00 to $151.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. Finally, Argus raised their target price on Dell Technologies from $150.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Dell Technologies has an average rating of “Moderate Buy” and an average target price of $162.80.

Dell Technologies Price Performance

DELL opened at $146.44 on Friday. Dell Technologies Inc. has a 1-year low of $66.25 and a 1-year high of $168.08. The stock has a market cap of $98.46 billion, a P/E ratio of 21.54, a P/E/G ratio of 1.02 and a beta of 1.02. The stock’s 50 day simple moving average is $142.46 and its 200 day simple moving average is $126.83.

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

Dell Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors 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 annualized dividend and a dividend yield of 1.4%. Dell Technologies’s payout ratio is currently 30.88%.

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).