On May 26, 2023, it was reported that Victory Capital Management Inc. decreased their holdings in shares of Dell Technologies Inc. by 10.4% during the fourth quarter. According to the most recent Form 13F filing with the SEC, the firm now holds 199,754 shares of Dell Technologies’ stock after selling 23,170 shares during the quarter, with a worth of $8,114,000 as of its most recent filing with the SEC.
In addition to Victory Capital Management’s actions, CFO Thomas W. Sweet also sold 283,388 shares of Dell Technologies stock on Friday, March 31st for an average price of $40.14. The total value of this transaction amounted to $11,375,194.32 and led to him owning just over 211 thousand shares in the company at a value of approximately $8.5 million. COO Anthony Charles Whitten also participated in insider trading by selling off nearly sixteen thousand shares for a total transaction of $583,219.67 on Thursday, March 16th.
These sales were disclosed through documents filed with the Securities & Exchange Commission which can be accessed through their website. It is worth noting that insiders sold over five hundred thousand shares worth over twenty-two million dollars of company stock throughout the last quarter; indicating uncertainty amongst those within Dell Technologies.
Currently trading at $48.08 per share on Friday with a market capitalization standing at roughly thirty-five billion dollars; Dell Technologies presents itself as an attractive tech investment opportunity with its price-to-earnings ratio displaying healthy returns and low volatility denoted via its beta rating.
However, amidst ventures taken by insiders leading up to May 26th and skepticism arising amongst investors concerning stock dumping strategies implemented by corporate giants such as Microsoft and Amazon—investors should approach this potential opportunity cautiously ensuring they keep themselves informed on any future reports made about internal dealings within Dell Technologies.
Dell Technologies Sees Investor Activity and Strong Financial Growth Ahead
Dell Technologies, the technology company that offers a range of IT solutions to customers worldwide, has been seeing a lot of activity by investors lately. Institutional investors have rushed to buy shares in Dell Technologies during recent quarters, with companies such as Accurate Wealth Management LLC, Brown Brothers Harriman & Co. and Ellevest Inc. reporting a substantial increase in their holdings. According to reports, 26.42% of the stock is now owned by institutional investors.
Equities research analysts have also reported on Dell Technologies’ stock in recent months. Citigroup lowered its price target for the stock in March 2023 from $53.00 to $50.00 per share., while KGI Securities raised its rating from “neutral” to “outperform”. Credit Suisse Group reaffirmed an “outperform” rating for Dell Technologies and set a $50.00 price target on the shares.
In other news, two insiders at Dell Technologies have sold large blocks of shares over the past few months. CFO Thomas W. Sweet sold more than 283,000 shares of the tech company’s stock on March 30th valued at over $11 million; COO Anthony Charles Whitten also sold over 15,000 shares worth about $583k on March 16th. Despite these insider sales, Dell Technologies seems poised for strong financial growth in the coming year.
Dell Technologies reported quarterly earnings results for Q1 2023 that exceeded expectations back in early March; revenues topped estimates at $25 billion compared to consensus estimates of $22.82 billion while earnings per share (EPS) reached $1.55 per share versus analyst expectations of $1.38 per share.
Furthermore, Dell recently announced an increased dividend payout for shareholders: From May 5th onwards stockholders received a quarterly dividend payment of $0.37 as opposed to the previous level of $0.33 per share held indicating growing confidence by Dell’s management over the technology company’s ability to keep delivering solid revenue growth from a variety of markets. Indeed, analysts forecast that Dell Technologies will post earnings per share of 4.24 for the current year.
On balance, investors seem confident in both the near-term and long-term prospects for Dell Technologies’ stock performance in spite of recent insider sales. A consensus rating of “Moderate Buy” with an average target price of $48.56 implies potential upside in the shares compared with current prices; so it seems that Dell Technologies is poised to grow and succeed in a competitive technology market over the coming months and years.
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