Moors & Cabot Inc. Takes $253,000 Position in Dell Technologies Inc. (NYSE:DELL)

Posted by Defense World Staff on May 22nd, 2023

Dell Technologies logo Moors & Cabot Inc. purchased a new stake in shares of Dell Technologies Inc. (NYSE:DELL – Get Rating) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,510 shares of the technology company’s stock, valued at approximately $253,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brown Brothers Harriman & Co. bought a new stake in shares of Dell Technologies during the first quarter valued at about $27,000. Accurate Wealth Management LLC purchased a new position in shares of Dell Technologies during the fourth quarter worth about $26,000. Romano Brothers AND Company purchased a new position in shares of Dell Technologies during the fourth quarter worth about $27,000. Belpointe Asset Management LLC purchased a new position in shares of Dell Technologies during the fourth quarter worth about $31,000. Finally, Ellevest Inc. grew its holdings in shares of Dell Technologies by 156.2% during the third quarter. Ellevest Inc. now owns 802 shares of the technology company’s stock worth $27,000 after purchasing an additional 489 shares in the last quarter. 26.42% of the stock is currently owned by institutional investors.

Dell Technologies Stock Up 1.3 %

Shares of DELL stock opened at $47.75 on Monday. The stock has a fifty day moving average of $42.01 and a 200 day moving average of $41.46. Dell Technologies Inc. has a 52 week low of $32.90 and a 52 week high of $52.60. The firm has a market capitalization of $34.92 billion, a price-to-earnings ratio of 14.83, a PEG ratio of 0.94 and a beta of 1.03.

Dell Technologies (NYSE:DELL – Get Rating) last announced its quarterly earnings results on Thursday, March 2nd. The technology company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.17. Dell Technologies had a negative return on equity of 173.72% and a net margin of 2.39%. The company had revenue of $25.04 billion during the quarter, compared to analyst estimates of $22.82 billion. Equities research analysts anticipate that Dell Technologies Inc. will post 4.24 earnings per share for the current year.

Dell Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 5th. Shareholders of record on Tuesday, April 25th were given a dividend of $0.37 per share. The ex-dividend date was Monday, April 24th. This represents a $1.48 annualized dividend and a yield of 3.10%. This is a positive change from Dell Technologies’s previous quarterly dividend of $0.33. Dell Technologies’s dividend payout ratio (DPR) is currently 45.96%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on DELL shares. Morgan Stanley raised Dell Technologies from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $45.00 to $55.00 in a report on Monday, May 1st. KGI Securities raised Dell Technologies from a “neutral” rating to an “outperform” rating in a research note on Tuesday, March 14th. The Goldman Sachs Group assumed coverage on Dell Technologies in a research note on Monday, March 20th. They issued a “buy” rating and a $43.00 target price for the company. Evercore ISI upped their target price on Dell Technologies from $50.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $50.00 target price on shares of Dell Technologies in a research note on Monday, March 6th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Dell Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $48.56.

Insider Buying and Selling at Dell Technologies

In other Dell Technologies news, CAO Brunilda Rios sold 22,042 shares of the firm’s stock in a transaction on Monday, April 17th. The stock was sold at an average price of $43.78, for a total transaction of $964,998.76. Following the completion of the transaction, the chief accounting officer now owns 18,647 shares of the company’s stock, valued at $816,365.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Brunilda Rios sold 22,042 shares of Dell Technologies stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $43.78, for a total value of $964,998.76. Following the completion of the transaction, the chief accounting officer now owns 18,647 shares of the company’s stock, valued at approximately $816,365.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Anthony Charles Whitten sold 15,983 shares of Dell Technologies stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $36.49, for a total value of $583,219.67. Following the completion of the transaction, the chief operating officer now directly owns 841,207 shares of the company’s stock, valued at approximately $30,695,643.43. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 522,371 shares of company stock valued at $22,038,868. 48.60% of the stock is currently owned by company insiders.

Dell Technologies Company Profile

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Dell Technologies, Inc is a holding company, which engages in the provision of information technology hardware, software, and service solutions through its subsidiaries. It operates through the following segments: Infrastructure Solutions Group (ISG), Client Solutions Group (CSG), and VMware. The ISG segment includes servers, networking, and storage, as well as services and third-party software and peripherals that are closely tied to the sale of ISG hardware.