Advisors Capital Management LLC Acquires 19,784 Shares of Dell Technologies Inc. $DELL

Advisors Capital Management LLC raised its holdings in Dell Technologies Inc. (NYSE:DELL) by 19.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 122,807 shares of the technology company’s stock after acquiring an additional 19,784 shares during the quarter. Advisors Capital Management LLC’s holdings in Dell Technologies were worth $15,056,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Boston Partners increased its stake in Dell Technologies by 34.4% in the 1st quarter. Boston Partners now owns 5,132,877 shares of the technology company’s stock worth $466,418,000 after buying an additional 1,312,600 shares during the period. Vanguard Group Inc. grew its position in shares of Dell Technologies by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 29,106,218 shares of the technology company’s stock worth $2,653,032,000 after buying an additional 1,145,658 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Dell Technologies by 38.1% during the first quarter. Deutsche Bank AG now owns 4,141,618 shares of the technology company’s stock valued at $377,508,000 after buying an additional 1,142,012 shares during the period. Alkeon Capital Management LLC increased its stake in shares of Dell Technologies by 41.4% during the first quarter. Alkeon Capital Management LLC now owns 3,177,809 shares of the technology company’s stock valued at $289,657,000 after buying an additional 931,032 shares during the period. Finally, Auto Owners Insurance Co raised its holdings in shares of Dell Technologies by 18,732.9% in the first quarter. Auto Owners Insurance Co now owns 781,000 shares of the technology company’s stock valued at $71,188,000 after acquiring an additional 776,853 shares in the last quarter. 76.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. The Goldman Sachs Group increased their target price on shares of Dell Technologies from $155.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Cowen reaffirmed a “hold” rating on shares of Dell Technologies in a research report on Friday, August 29th. JPMorgan Chase & Co. lifted their price objective on shares of Dell Technologies from $145.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. UBS Group boosted their price objective on shares of Dell Technologies from $155.00 to $186.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Finally, Citigroup increased their target price on Dell Technologies from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Wednesday, October 8th. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $162.80.

Insider Activity at Dell Technologies

In other Dell Technologies news, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $135.98, for a total transaction of $112,183,364.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director V (Gp) L.L.C. Slta sold 565,000 shares of the company’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $132.32, for a total transaction of $74,760,800.00. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 4,537,755 shares of company stock worth $642,644,973. 42.00% of the stock is owned by corporate insiders.

Dell Technologies Trading Down 0.3%

NYSE:DELL opened at $133.58 on Friday. The company has a market capitalization of $89.82 billion, a P/E ratio of 19.64, a PEG ratio of 0.91 and a beta of 1.02. Dell Technologies Inc. has a 12 month low of $66.25 and a 12 month high of $168.08. The firm has a fifty day simple moving average of $143.87 and a 200-day simple moving average of $128.45.

Dell Technologies (NYSE:DELL) last released its earnings results on Thursday, October 5th. The technology company reported $1.68 earnings per share (EPS) for the quarter. The firm 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. Equities analysts forecast 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 given a $0.525 dividend. The ex-dividend date was Tuesday, October 21st. This represents a $2.10 dividend on an annualized basis and a yield of 1.6%. Dell Technologies’s dividend 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).