Independence Bank of Kentucky Invests $86,000 in Dell Technologies Inc. (NYSE:DELL)

Independence Bank of Kentucky acquired a new position in shares of Dell Technologies Inc. (NYSE:DELL) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 750 shares of the technology company’s stock, valued at approximately $86,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Jones Financial Companies Lllp acquired a new stake in shares of Dell Technologies in the 4th quarter worth about $25,000. Massmutual Trust Co. FSB ADV increased its stake in Dell Technologies by 58.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 223 shares of the technology company’s stock valued at $25,000 after buying an additional 82 shares during the last quarter. Anchor Investment Management LLC purchased a new stake in Dell Technologies in the 4th quarter valued at about $26,000. Pinnacle Bancorp Inc. increased its stake in Dell Technologies by 96.9% in the 4th quarter. Pinnacle Bancorp Inc. now owns 382 shares of the technology company’s stock valued at $29,000 after buying an additional 188 shares during the last quarter. Finally, Central Bank & Trust Co. purchased a new stake in Dell Technologies in the 1st quarter valued at about $34,000. Institutional investors own 38.10% of the company’s stock.

Wall Street Analysts Forecast Growth

DELL has been the subject of several analyst reports. Sanford C. Bernstein increased their price objective on shares of Dell Technologies from $120.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, May 20th. Loop Capital raised their price target on shares of Dell Technologies from $125.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. TD Cowen raised their price target on shares of Dell Technologies from $105.00 to $155.00 and gave the stock a “hold” rating in a research note on Friday, May 31st. Evercore ISI raised their price target on shares of Dell Technologies from $140.00 to $165.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. Finally, Wells Fargo & Company raised their price target on shares of Dell Technologies from $170.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $135.81.

Dell Technologies Price Performance

NYSE:DELL traded down $1.52 during trading hours on Friday, hitting $137.91. The stock had a trading volume of 20,573,566 shares, compared to its average volume of 20,408,352. The company has a 50 day simple moving average of $138.43 and a two-hundred day simple moving average of $109.99. Dell Technologies Inc. has a one year low of $51.80 and a one year high of $179.70. The firm has a market capitalization of $97.82 billion, a price-to-earnings ratio of 28.14, a P/E/G ratio of 1.73 and a beta of 0.85.

Dell Technologies (NYSE:DELL) last announced its quarterly earnings results on Thursday, May 30th. The technology company reported $1.04 EPS for the quarter, beating the consensus estimate of $1.00 by $0.04. Dell Technologies had a net margin of 4.00% and a negative return on equity of 173.72%. The firm had revenue of $22.24 billion during the quarter, compared to the consensus estimate of $21.70 billion. Equities research analysts anticipate that Dell Technologies Inc. will post 6.85 earnings per share for the current year.

Dell Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Tuesday, July 23rd will be issued a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date of this dividend is Tuesday, July 23rd. Dell Technologies’s dividend payout ratio is currently 36.33%.

Insider Transactions at Dell Technologies

In other news, CEO Michael S. Dell sold 2,837,829 shares of Dell Technologies stock in a transaction on Friday, June 14th. The shares were sold at an average price of $133.75, for a total transaction of $379,559,628.75. Following the completion of the sale, the chief executive officer now directly owns 20,412,241 shares of the company’s stock, valued at approximately $2,730,137,233.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Dell Technologies news, insider William F. Scannell sold 106,483 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $129.15, for a total value of $13,752,279.45. Following the transaction, the insider now owns 356,077 shares in the company, valued at $45,987,344.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael S. Dell sold 2,837,829 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $133.75, for a total transaction of $379,559,628.75. Following the completion of the transaction, the chief executive officer now owns 20,412,241 shares in the company, valued at approximately $2,730,137,233.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,246,728 shares of company stock valued at $842,917,457. Insiders own 46.70% of the company’s stock.

About Dell Technologies

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).