Dell Technologies (NYSE:DELL) Updates Q4 2023 Earnings … – MarketBeat

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Dell Technologies logo Dell Technologies (NYSE:DELL – Get Rating) issued an update on its fourth quarter 2023 earnings guidance on Thursday morning. The company provided earnings per share guidance of $1.50-$1.80 for the period, compared to the consensus earnings per share estimate of $1.63. The company issued revenue guidance of $23.00 billion-$24.00 billion, compared to the consensus revenue estimate of $24.87 billion.

Dell Technologies Stock Performance

NYSE DELL opened at $39.12 on Thursday. Dell Technologies has a 52-week low of $32.90 and a 52-week high of $61.54. The stock has a market cap of $28.02 billion, a PE ratio of 16.44, a P/E/G ratio of 0.50 and a beta of 0.96. The firm has a 50-day moving average of $40.28 and a 200-day moving average of $41.95.
Dell Technologies (NYSE:DELL – Get Rating) last released its quarterly earnings results on Monday, November 21st. The technology company reported $2.01 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.69. Dell Technologies had a net margin of 1.74% and a negative return on equity of 208.47%. The business had revenue of $24.72 million for the quarter, compared to analyst estimates of $24.61 billion. During the same period last year, the firm earned $2.37 earnings per share. Dell Technologies’s revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, analysts predict that Dell Technologies will post 6.46 EPS for the current fiscal year.

Dell Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 3rd. Shareholders of record on Wednesday, January 25th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.37%. The ex-dividend date is Tuesday, January 24th. Dell Technologies’s dividend payout ratio is currently 55.46%.

Wall Street Analyst Weigh In

DELL has been the topic of several recent analyst reports. Citigroup decreased their target price on shares of Dell Technologies from $60.00 to $55.00 and set a buy rating on the stock in a report on Friday, November 18th. UBS Group reduced their price target on shares of Dell Technologies from $65.00 to $60.00 and set a buy rating on the stock in a research note on Tuesday, November 22nd. Raymond James raised their price target on shares of Dell Technologies from $47.00 to $50.00 and gave the company an outperform rating in a research note on Tuesday, November 22nd. The Goldman Sachs Group cut their target price on shares of Dell Technologies from $52.00 to $43.00 and set a neutral rating on the stock in a research report on Friday, August 26th. Finally, Bank of America cut their target price on shares of Dell Technologies from $60.00 to $55.00 in a research report on Tuesday, November 22nd. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $50.38.

Insider Buying and Selling at Dell Technologies

In other Dell Technologies news, insider William F. Scannell sold 91,938 shares of the business’s stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $42.62, for a total transaction of $3,918,397.56. Following the completion of the sale, the insider now owns 178,627 shares in the company, valued at approximately $7,613,082.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 47.30% of the stock is currently owned by company insiders.

Institutional Trading of Dell Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. Toroso Investments LLC bought a new stake in shares of Dell Technologies in the 3rd quarter worth $207,000. B. Riley Wealth Advisors Inc. grew its stake in shares of Dell Technologies by 211.1% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 16,440 shares of the technology company’s stock worth $563,000 after acquiring an additional 11,155 shares in the last quarter. National Pension Service grew its stake in shares of Dell Technologies by 1.1% in the 3rd quarter. National Pension Service now owns 596,380 shares of the technology company’s stock worth $20,390,000 after acquiring an additional 6,259 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Dell Technologies by 6.9% in the 3rd quarter. Captrust Financial Advisors now owns 14,282 shares of the technology company’s stock worth $488,000 after acquiring an additional 927 shares in the last quarter. Finally, Ascent Group LLC boosted its holdings in shares of Dell Technologies by 48.7% in the 3rd quarter. Ascent Group LLC now owns 9,050 shares of the technology company’s stock worth $348,000 after buying an additional 2,962 shares during the last quarter. Institutional investors own 26.42% of the company’s stock.

Dell Technologies Company Profile

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Dell Technologies Inc designs, develops, manufactures, markets, sells, and supports various comprehensive and integrated solutions, products, and services in the Americas, Europe, the Middle East, Asia, and internationally. The company operates through two segments, Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG).

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