Bank of Nova Scotia Acquires 9,797 Shares of Dell Technologies Inc. (NYSE:DELL)

Posted by Defense World Staff on May 23rd, 2023

Dell Technologies logo Bank of Nova Scotia increased its holdings in Dell Technologies Inc. (NYSE:DELL – Get Rating) by 36.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,565 shares of the technology company’s stock after purchasing an additional 9,797 shares during the quarter. Bank of Nova Scotia’s holdings in Dell Technologies were worth $1,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of DELL. Accurate Wealth Management LLC purchased a new position in shares of Dell Technologies during the fourth quarter valued at approximately $26,000. Ellevest Inc. raised its stake in Dell Technologies by 156.2% during the 3rd quarter. Ellevest Inc. now owns 802 shares of the technology company’s stock valued at $27,000 after buying an additional 489 shares during the last quarter. Romano Brothers AND Company purchased a new stake in Dell Technologies during the 4th quarter valued at $27,000. Brown Brothers Harriman & Co. purchased a new stake in Dell Technologies during the 1st quarter valued at $27,000. Finally, Belpointe Asset Management LLC purchased a new stake in Dell Technologies during the 4th quarter valued at $31,000. 26.42% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, General Counsel Richard J. Rothberg sold 200,958 shares of the firm’s stock in a transaction on Tuesday, April 18th. The shares were sold at an average price of $45.36, for a total transaction of $9,115,454.88. Following the completion of the transaction, the general counsel now owns 149,379 shares of the company’s stock, valued at $6,775,831.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Dell Technologies news, CFO Thomas W. Sweet sold 283,388 shares of Dell Technologies stock in a transaction on Friday, March 31st. The shares were sold at an average price of $40.14, for a total value of $11,375,194.32. Following the completion of the transaction, the chief financial officer now owns 211,608 shares of the company’s stock, valued at $8,493,945.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Richard J. Rothberg sold 200,958 shares of Dell Technologies stock in a transaction on Tuesday, April 18th. The shares were sold at an average price of $45.36, for a total transaction of $9,115,454.88. Following the completion of the transaction, the general counsel now directly owns 149,379 shares of the company’s stock, valued at approximately $6,775,831.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 522,371 shares of company stock valued at $22,038,868. Insiders own 48.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Dell Technologies from an “overweight” rating to a “neutral” rating and set a $47.00 price objective for the company. in a research report on Monday, April 17th. Morgan Stanley raised shares of Dell Technologies from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $45.00 to $55.00 in a report on Monday, May 1st. KGI Securities raised shares of Dell Technologies from a “neutral” rating to an “outperform” rating in a report on Tuesday, March 14th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Dell Technologies from $48.00 to $45.00 and set a “buy” rating for the company in a report on Friday, March 3rd. Finally, Credit Suisse Group reissued an “outperform” rating and set a $50.00 price objective on shares of Dell Technologies in a report on Monday, March 6th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.56.

Dell Technologies Stock Performance

Shares of NYSE:DELL opened at $47.54 on Tuesday. The firm has a market cap of $34.76 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 0.94 and a beta of 1.03. Dell Technologies Inc. has a one year low of $32.90 and a one year high of $52.60. The firm’s 50 day simple moving average is $42.23 and its 200-day simple moving average is $41.54.

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

Dell Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 5th. Shareholders of record on Tuesday, April 25th were issued a $0.37 dividend. The ex-dividend date of this dividend was Monday, April 24th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.11%. This is a boost from Dell Technologies’s previous quarterly dividend of $0.33. Dell Technologies’s dividend payout ratio (DPR) is currently 45.96%.

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.