Fidelity Management & Research Co has recently announced that it has increased stake in Dell Technologies Inc (NYSE:DELL) by 68.09%. After grabbing 8.44 million shares, the institutional investor is now in possession of 3.42 million shares of the Technology Company. The new investment brought the stake of investor firm to 3.33% having worth around $640.24 million. Moreover, BlackRock Fund Advisors increased its share by 0.15 million to have a control over 7.77 million shares. And Arrowstreet Capital LP raised its holdings to 0.16 million shares by acquiring 7.05 million shares or 2.78% of the stake.
Dell Technologies Inc (DELL) concluded trading on 01/03/24 at a closing price of $76.60, with 3.51 million shares of worth about $268.72 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 41.30% during that period and on Wednesday the price saw a gain of about 2.42%. Currently the company’s common shares owned by public are about 711.60M shares, out of which, 247.71M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 20 analysts are covering the DELL stock and their offered price forecasts bring an average price target of $81.07. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $95.00 and could fall to a lowest price of $53.00. The stock’s current price level is 5.51% above of average price target set by the analysts, while a rise to estimated low would result in loss of -44.53% for the stock. However, touching the estimated high of $95.00 would mean a gain of 19.37% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 62 times over the past 12 months. They bought 2,191,994 shares in 23 of the transactions. In 39 selling transactions, insiders dumped 7,894,703 shares.
Dodge & Cox Stock Fund, Vanguard Total Stock Market ETF, and Vanguard Extended Market Index Fu are the top 3 mutual funds which are holding stakes in Dell Technologies Inc Dodge & Cox Stock Fund is currently holding 7.69 million shares of worth totaling $583.08 million. The company recently came selling -3.91 million shares which brought its stake up to 3.03% of the company’s outstanding shares. Vanguard Total Stock Market ETF bought 9067.0 shares, after which its hold over company’s outstanding shares expand to 2.97%, leaving 7.54 million shares with the mutual fund that have a worth of about $571.8 million. Vanguard Extended Market Index Fu, after buying 3.59 million shares, have now control over 1.42% of the stake in the company. It holds 56998.0 shares of worth $272.26 million.
Dell Technologies Inc (NYSE: DELL) started trading at $74.83, above $0.04 from concluding price of the previous day. Stock saw a price change of -0.52% in past 5 days and over the past one month there was a price change of 6.49%. Year-to-date (YTD), DELL shares are showing a performance of 0.13% which increased to 90.45% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $35.96 but also hit the highest price of $77.45 during that period. The average intraday trading volume for Dell Technologies Inc shares is 4.63 million. The stock is currently trading 5.71% above its 20-day simple moving average (SMA20), while that difference is up 6.97% for SMA50 and it goes to 32.55% higher than SMA200.
Fidelity Management & Research Co acquired 8.44 million shares of Dell Technologies Inc having value of about $640.24 million. Data submitted at the U.S SEC by Fidelity Management & Research Co revealed that the firm now holds 3.42 million shares in the company valued at close to $261854648.8, or have control over 68.09% stake in the company. Dell Technologies Inc (NYSE: DELL) currently have 711.60M outstanding shares and institutions hold larger chunk of about 27.55% of that. Holding of mutual funds in the company is about 35.13% while other institutional holders and individual stake holders have control over 42.67% and 27.07% of the stake respectively.
The stock has a current market capitalization of $54.51B and its 3Y-monthly beta is at 0.90. PE ratio of stock for trailing 12 months is 21.21, while it has posted earnings per share of $3.61 in the same period. Its PEG reads 26.18 and has Quick Ratio of 0.63. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for DELL, volatility over the week remained 1.52% while standing at 2.07% over the month.
Analysts are in expectations that Dell Technologies Inc (DELL) stock would likely to be making an EPS of $1.73 in the current quarter, while forecast for next quarter EPS is $1.44 and it is $7.08 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.65 which is $1.82 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.8 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -12.58% while it is estimated to increase by 6.88% in next year.
Analysts at 20 brokerage firms have issued recommendations for the Dell Technologies Inc (DELL)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 20 Wall Street analysts, 11 recommended a “Buy” rating, while 3 were in favor recommending the stock as a “Hold” and 2 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by TD Cowen on December 01, 2023 offering a Market perform rating for the stock and assigned a target price range of between $58 and $75 to it.
