Cary Street Partners Investment Advisory Expands Dell Technologies Stake

Cary Street Partners Investment Advisory LLC has significantly increased its investment in Dell Technologies Inc. (NYSE:DELL), boosting its share ownership by a staggering 456.5% during the third quarter. This growth in stake was revealed in their latest 13F filing with the Securities and Exchange Commission (SEC). The advisory firm now holds 1,280 shares in the technology giant after acquiring an extra 1,050 shares within the quarter.

Investment Growth

The total value of Cary Street Partners Investment Advisory’s Dell shares amounted to approximately $88,000 at the time of the SEC filing. However, they were not the only institutional investors making moves. Various other investors also adjusted their Dell Technologies holdings in notable ways.

Institutional Moves

Rise Advisors LLC tripled its stake, while others like Compass Wealth Management LLC and KB Financial Partners LLC initiated new positions in Dell. Tower Research Capital LLC TRC expanded its shares by over 263%. Collectively, institutional investors own about 38.10% of Dell's stock.

Insider Transactions

A notable insider transaction involved Director Iv (Gp) L.L.C. Slta, who sold 239,112 shares at an average price of $79.43, cumulating in a total sale of over 18 million dollars. The action left the director with an ownership of close to 294,000 shares, valued at over 23 million dollars.

Analysts' Ratings and Dell’s Performance

Wall Street analysts remain optimistic about Dell’s performance. With a series of upgraded price targets and positive ratings from firms like Evercore ISI, JPMorgan Chase & Co., and Wells Fargo & Company, Dell Technologies maintains a generally favorable outlook with the average analyst rating sitting at "Moderate Buy".

Stock and Dividend Report

Following these adjustments and reports, Dell’s stock was trading higher by 1.8%. Over the past year, the stock had seen lows of $35.96 and highs of $94.99, with a consistent improvement in its 50-day and 200-day moving averages.

The company paid out a quarterly dividend in early February, marking a $1.48 annualized dividend and a yield of 1.59%. This fits into a payout ratio of 40.88%, showcasing a balance in its income redistribution.

Dell's Broad Market Presence

Dell Technologies continues to offer a comprehensive range of solutions and services across the globe, divided into the Infrastructure Solutions Group (ISG) and Client Solutions Group (CSG) sectors.

Investment, Growth, Technology