KBC Group NV Reduces Stock Holdings in Dell Technologies Inc. $DELL

by · The Cerbat Gem

KBC Group NV cut its holdings in shares of Dell Technologies Inc. (NYSE:DELL – Free Report) by 61.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 392,449 shares of the technology company’s stock after selling 632,570 shares during the quarter. KBC Group NV owned about 0.06% of Dell Technologies worth $48,114,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. N.E.W. Advisory Services LLC acquired a new stake in Dell Technologies during the 1st quarter worth approximately $26,000. Cheviot Value Management LLC acquired a new position in shares of Dell Technologies in the 1st quarter valued at $27,000. Flaharty Asset Management LLC purchased a new stake in shares of Dell Technologies in the first quarter valued at about $27,000. 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. Finally, Cullen Frost Bankers Inc. grew its position 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 buying an additional 222 shares during the last quarter. Institutional investors and hedge funds own 76.37% of the company’s stock.

Insider Activity

In other Dell Technologies news, Director V (Gp) L.L.C. Slta sold 19,256 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $154.21, for a total value of $2,969,467.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ellen Jamison Kullman sold 79,806 shares of the stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $153.56, for a total value of $12,255,009.36. Following the sale, the director owned 65,662 shares in the company, valued at $10,083,056.72. The trade was a 54.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 4,537,755 shares of company stock valued at $642,644,973 over the last quarter. Corporate insiders own 42.00% of the company’s stock.

Dell Technologies Trading Up 1.4%

Dell Technologies stock opened at $140.69 on Thursday. The stock has a market cap of $94.59 billion, a P/E ratio of 20.69, a price-to-earnings-growth ratio of 0.95 and a beta of 1.02. Dell Technologies Inc. has a 52 week low of $66.25 and a 52 week high of $168.08. The stock has a 50 day moving average of $143.56 and a 200-day moving average of $128.14.

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

Dell Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders 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 dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, October 21st. Dell Technologies’s dividend payout ratio is 30.88%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DELL. Wells Fargo & Company boosted their target price on Dell Technologies from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Mizuho raised their price objective on shares of Dell Technologies from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Weiss Ratings restated a “hold (c+)” rating on shares of Dell Technologies in a report on Wednesday, October 8th. TD Cowen lifted their price objective on Dell Technologies from $130.00 to $150.00 and gave the company a “hold” rating in a research report on Wednesday, October 8th. Finally, Argus boosted their target price on shares of Dell Technologies from $150.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Dell Technologies presently has an average rating of “Moderate Buy” and an average target price of $162.80.

Check Out Our Latest Report on DELL

Dell Technologies Company Profile

(Free Report)

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).

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