1,571 Shares in Dell Technologies Inc. (NYSE:DELL) Bought by Drive Wealth Management LLC

Drive Wealth Management LLC acquired a new stake 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 acquired 1,571 shares of the technology company’s stock, valued at approximately $217,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Accordant Advisory Group Inc bought a new stake in shares of Dell Technologies during the second quarter worth $28,000. Massmutual Trust Co. FSB ADV lifted its holdings in Dell Technologies by 58.2% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 223 shares of the technology company’s stock valued at $25,000 after buying an additional 82 shares in the last quarter. Crewe Advisors LLC purchased a new stake in Dell Technologies in the 2nd quarter valued at about $34,000. New Covenant Trust Company N.A. purchased a new stake in Dell Technologies in the 1st quarter valued at about $30,000. Finally, Central Bank & Trust Co. bought a new position in Dell Technologies in the 1st quarter worth about $34,000. Hedge funds and other institutional investors own 38.10% of the company’s stock.

Dell Technologies Stock Performance

NYSE DELL opened at $115.54 on Monday. The firm has a market capitalization of $81.95 billion, a P/E ratio of 23.58, a PEG ratio of 1.43 and a beta of 0.92. The stock has a 50-day simple moving average of $120.21 and a two-hundred day simple moving average of $122.74. Dell Technologies Inc. has a fifty-two week low of $53.62 and a fifty-two week high of $179.70.

Dell Technologies (NYSE:DELL) last announced its quarterly earnings results on Thursday, August 29th. The technology company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. Dell Technologies had a negative return on equity of 182.71% and a net margin of 4.32%. The company had revenue of $25.03 billion during the quarter, compared to analysts’ expectations of $24.14 billion. During the same period last year, the business earned $1.44 earnings per share. Dell Technologies’s quarterly revenue was up 9.1% on a year-over-year basis. As a group, analysts forecast that Dell Technologies Inc. will post 6.86 earnings per share for the current year.

Dell Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Tuesday, July 23rd were issued a $0.445 dividend. The ex-dividend date of this dividend was Tuesday, July 23rd. This represents a $1.78 dividend on an annualized basis and a yield of 1.54%. Dell Technologies’s payout ratio is 36.33%.

Insiders Place Their Bets

In other Dell Technologies news, CEO Michael S. Dell sold 1,340,823 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $133.67, for a total value of $179,227,810.41. Following the sale, the chief executive officer now directly owns 28,931,999 shares of the company’s stock, valued at $3,867,340,306.33. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Michael S. Dell sold 2,837,829 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $133.75, for a total value of $379,559,628.75. Following the transaction, the chief executive officer now owns 20,412,241 shares in the company, valued at $2,730,137,233.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael S. Dell sold 1,340,823 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $133.67, for a total value of $179,227,810.41. Following the sale, the chief executive officer now owns 28,931,999 shares of the company’s stock, valued at $3,867,340,306.33. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,041,697 shares of company stock worth $961,072,399. Company insiders own 46.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DELL. Fox Advisors upgraded Dell Technologies from an “equal weight” rating to an “overweight” rating in a report on Friday. JPMorgan Chase & Co. upped their target price on Dell Technologies from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Sanford C. Bernstein cut their price target on Dell Technologies from $155.00 to $140.00 and set an “outperform” rating on the stock in a research note on Friday. Raymond James lowered their price objective on shares of Dell Technologies from $166.00 to $160.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Evercore ISI reissued an “outperform” rating and set a $140.00 target price on shares of Dell Technologies in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Dell Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.80.

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).