Franklin Resources Inc. Trims Stake in Dell Technologies Inc. (NYSE:DELL)

Posted by Defense World Staff on Jun 3rd, 2023

Dell Technologies logo Franklin Resources Inc. trimmed its holdings in shares of Dell Technologies Inc. (NYSE:DELL – Get Rating) by 3.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 116,123 shares of the technology company’s stock after selling 4,572 shares during the quarter. Franklin Resources Inc.’s holdings in Dell Technologies were worth $4,670,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its holdings in shares of Dell Technologies by 80.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 4,976,265 shares of the technology company’s stock worth $249,759,000 after purchasing an additional 2,222,995 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Dell Technologies by 43.9% in the 3rd quarter. Alliancebernstein L.P. now owns 4,567,318 shares of the technology company’s stock worth $156,065,000 after purchasing an additional 1,394,376 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Dell Technologies by 40.7% in the 4th quarter. Pacer Advisors Inc. now owns 4,019,506 shares of the technology company’s stock worth $161,665,000 after purchasing an additional 1,161,913 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Dell Technologies by 78.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,424,666 shares of the technology company’s stock worth $71,566,000 after purchasing an additional 624,628 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in shares of Dell Technologies in the 3rd quarter worth about $19,938,000. 26.42% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on DELL shares. Sanford C. Bernstein cut their price objective on Dell Technologies from $60.00 to $51.00 in a report on Friday, March 3rd. Deutsche Bank Aktiengesellschaft increased their target price on Dell Technologies from $45.00 to $48.00 in a report on Friday. Raymond James increased their target price on Dell Technologies from $45.00 to $50.00 in a report on Friday. KGI Securities upgraded Dell Technologies from a “neutral” rating to an “outperform” rating in a report on Tuesday, March 14th. Finally, Barclays upped their price target on Dell Technologies from $40.00 to $45.00 in a research report on Friday. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Dell Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.81.

Insider Buying and Selling at Dell Technologies

In other Dell Technologies news, COO Anthony Charles Whitten sold 15,983 shares of the stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $36.49, for a total transaction of $583,219.67. Following the sale, the chief operating officer now directly owns 841,207 shares in the company, valued at approximately $30,695,643.43. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Thomas W. Sweet sold 283,388 shares of the firm’s stock in a transaction on Friday, March 31st. The stock was sold at an average price of $40.14, for a total value of $11,375,194.32. Following the transaction, the chief financial officer now directly owns 211,608 shares in the company, valued at approximately $8,493,945.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Anthony Charles Whitten sold 15,983 shares of the firm’s stock in a transaction on 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 owns 841,207 shares in the company, valued at $30,695,643.43. The disclosure for this sale can be found here. In the last three months, insiders have sold 522,371 shares of company stock worth $22,038,868. Insiders own 48.60% of the company’s stock.

Dell Technologies Stock Up 4.0 %

Dell Technologies stock opened at $47.27 on Friday. The company has a market capitalization of $34.56 billion, a P/E ratio of 14.68, a PEG ratio of 0.88 and a beta of 1.02. The stock’s 50 day moving average is $43.85 and its 200 day moving average is $41.91. Dell Technologies Inc. has a twelve month low of $32.90 and a twelve month high of $51.75.

Dell Technologies (NYSE:DELL – Get Rating) last posted its quarterly earnings results on Thursday, June 1st. The technology company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.45. The company had revenue of $20.92 billion for the quarter, compared to the consensus estimate of $20.27 billion. Dell Technologies had a negative return on equity of 173.72% and a net margin of 2.39%. The firm’s quarterly revenue was down 19.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.64 EPS. As a group, equities analysts expect that Dell Technologies Inc. will post 4.24 EPS for the current year.

Dell Technologies 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.