Bessemer Group Inc. Boosts Stock Holdings in Dell Technologies Inc. $DELL

Bessemer Group Inc. boosted its position in Dell Technologies Inc. (NYSE:DELL) by 22.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,179 shares of the technology company’s stock after purchasing an additional 393 shares during the quarter. Bessemer Group Inc.’s holdings in Dell Technologies were worth $266,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new position in Dell Technologies in the 2nd quarter valued at $29,000. N.E.W. Advisory Services LLC acquired a new position in Dell Technologies in the 1st quarter valued at $26,000. Cheviot Value Management LLC acquired a new position in Dell Technologies in the 1st quarter valued at $27,000. Flaharty Asset Management LLC acquired a new position in Dell Technologies in the 1st quarter valued at $27,000. Finally, Cullen Frost Bankers Inc. raised its stake in Dell Technologies by 270.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 304 shares of the technology company’s stock valued at $28,000 after purchasing an additional 222 shares during the last quarter. 76.37% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Dell Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of the firm’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $135.98, for a total transaction of $112,183,364.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director V (Gp) L.L.C. Slta sold 565,000 shares of the firm’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $132.32, for a total value of $74,760,800.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 4,587,755 shares of company stock valued at $649,644,973 over the last 90 days. 42.00% of the stock is currently owned by company insiders.

Dell Technologies Trading Down 1.3%

NYSE DELL opened at $159.94 on Tuesday. The stock has a market cap of $107.54 billion, a PE ratio of 23.52, a P/E/G ratio of 1.11 and a beta of 1.02. Dell Technologies Inc. has a twelve month low of $66.25 and a twelve month high of $168.08. The stock has a fifty day simple moving average of $140.82 and a 200-day simple moving average of $125.56.

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

Dell Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, October 21st were issued a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Tuesday, October 21st. Dell Technologies’s dividend payout ratio (DPR) is 30.88%.

Wall Street Analyst Weigh In

Several research analysts recently commented on DELL shares. Evercore ISI set a $180.00 price objective on Dell Technologies and gave the company an “outperform” rating in a research note on Monday. JPMorgan Chase & Co. raised their target price on Dell Technologies from $145.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 8th. The Goldman Sachs Group raised their target price on Dell Technologies from $155.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Susquehanna raised their target price on Dell Technologies from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 8th. Finally, Barclays raised their target price on Dell Technologies from $133.00 to $151.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Dell Technologies presently has an average rating of “Moderate Buy” and an average target price of $162.80.

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).