Trust Asset Management LLC Acquires 8,177 Shares of Dell Technologies Inc. (NYSE:DELL)

25 Nov 2024, 15:52 by Mitch Edgeman · The Markets Daily

Trust Asset Management LLC increased its holdings in Dell Technologies Inc. (NYSE:DELL – Free Report) by 389.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,277 shares of the technology company’s stock after purchasing an additional 8,177 shares during the quarter. Trust Asset Management LLC’s holdings in Dell Technologies were worth $1,218,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in DELL. International Assets Investment Management LLC grew its holdings in shares of Dell Technologies by 19,376.1% in the third quarter. International Assets Investment Management LLC now owns 2,427,699 shares of the technology company’s stock worth $287,779,000 after purchasing an additional 2,415,234 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Dell Technologies by 2.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 2,276,779 shares of the technology company’s stock valued at $319,771,000 after acquiring an additional 51,804 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Dell Technologies by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,725,473 shares of the technology company’s stock worth $204,538,000 after purchasing an additional 29,717 shares during the last quarter. Bahl & Gaynor Inc. grew its position in shares of Dell Technologies by 4.1% in the 2nd quarter. Bahl & Gaynor Inc. now owns 1,408,807 shares of the technology company’s stock worth $194,289,000 after buying an additional 55,763 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Dell Technologies by 103.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,133,166 shares of the technology company’s stock valued at $156,275,000 after purchasing an additional 575,166 shares during the period. 38.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DELL has been the subject of several research reports. Mizuho started coverage on Dell Technologies in a research report on Tuesday, September 17th. They issued an “outperform” rating and a $135.00 target price for the company. Barclays boosted their target price on shares of Dell Technologies from $97.00 to $106.00 and gave the company an “equal weight” rating in a report on Friday, August 30th. Citigroup lifted their price target on shares of Dell Technologies from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, August 30th. TD Cowen cut their price objective on shares of Dell Technologies from $155.00 to $128.00 and set a “hold” rating on the stock in a report on Friday, August 30th. Finally, Raymond James lowered their target price on shares of Dell Technologies from $166.00 to $160.00 and set an “outperform” rating for the company in a report on Friday, August 30th. Three 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.50.

Check Out Our Latest Research Report on Dell Technologies

Insider Transactions at Dell Technologies

In related news, CEO Michael S. Dell sold 1,839,959 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $106.68, for a total value of $196,286,826.12. Following the transaction, the chief executive officer now directly owns 18,350,822 shares of the company’s stock, valued at approximately $1,957,665,690.96. This trade represents a 9.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Radakovich Lynn Vojvodich sold 725 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $129.50, for a total value of $93,887.50. Following the sale, the director now directly owns 23,680 shares of the company’s stock, valued at $3,066,560. This represents a 2.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,954,112 shares of company stock worth $2,113,449,139 in the last quarter. Company insiders own 46.70% of the company’s stock.

Dell Technologies Stock Up 0.9 %

DELL traded up $1.28 during midday trading on Monday, hitting $145.49. 2,185,617 shares of the company traded hands, compared to its average volume of 9,961,790. The company’s 50-day moving average is $125.84 and its 200 day moving average is $126.82. Dell Technologies Inc. has a 52 week low of $67.51 and a 52 week high of $179.70. The firm has a market capitalization of $102.19 billion, a PE ratio of 26.51, a price-to-earnings-growth ratio of 1.52 and a beta of 0.89.

Dell Technologies (NYSE:DELL – Get Free Report) last released 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. The firm had revenue of $25.03 billion for the quarter, compared to analysts’ expectations of $24.14 billion. Dell Technologies had a negative return on equity of 178.09% and a net margin of 4.32%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 EPS. On average, sell-side analysts predict that Dell Technologies Inc. will post 6.91 earnings per share for the current fiscal year.

Dell Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 22nd were given a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Tuesday, October 22nd. Dell Technologies’s payout ratio is currently 32.72%.

Dell Technologies Profile

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