The News

 Specifically, Director David W. Dorman sold 75,000 shares of the stock in a transaction that occurred on Thursday, June 13th. 

The shares were sold at an average price of $135.26, for a total value of $10,144,500.00. Following the completion of the transaction, the director now owns 114,317 shares of the company’s stock, valued at approximately $15,462,517.42. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director David W. Dorman sold 75,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $135.26, for a total transaction of $10,144,500.00. Following the completion of the transaction, the director now directly owns 114,317 shares in the company, valued at $15,462,517.42. The sale 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 that occurred on Friday, June 14th. The stock was 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 90 days, insiders sold 7,032,750 shares of company stock valued at $959,881,905. Company insiders own 46.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Loop Capital lifted their price target on shares of Dell Technologies from $125.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Citigroup increased their price target on Dell Technologies from $125.00 to $170.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Wells Fargo & Company boosted their price objective on Dell Technologies from $170.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, May 31st. UBS Group increased their target price on Dell Technologies from $113.00 to $141.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Finally, Bank of America raised their price objective on shares of Dell Technologies from $130.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $135.81.

Dell Technologies Stock Down 0.2 %

The company has a market cap of $98.78 billion, a P/E ratio of 28.28, a price-to-earnings-growth ratio of 1.73 and a beta of 0.92. The firm’s 50-day moving average price is $142.48 and its 200-day moving average price is $115.37.

Dell Technologies (NYSE:DELL – Get Free Report) last posted its quarterly earnings data on Thursday, May 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. Dell Technologies had a negative return on equity of 173.72% and a net margin of 4.00%. The company had revenue of $22.24 billion during the quarter, compared to analyst estimates of $21.70 billion. As a group, analysts forecast that Dell Technologies Inc. will post 6.85 earnings per share for the current year.

Dell Technologies Announces Dividend

The company 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 $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Tuesday, July 23rd. Dell Technologies’s payout ratio is currently 36.33%.

Hedge Funds Weigh In On Dell Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Dell Technologies by 58.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 223 shares of the technology company’s stock worth $25,000 after purchasing an additional 82 shares in the last quarter. New Covenant Trust Company N.A. bought a new position in Dell Technologies during the 1st quarter worth approximately $30,000. Central Bank & Trust Co. bought a new position in Dell Technologies during the 1st quarter worth approximately $34,000. Jones Financial Companies Lllp bought a new position in Dell Technologies during the 4th quarter worth approximately $25,000. Finally, EntryPoint Capital LLC grew its position in Dell Technologies by 748.7% during the 1st quarter. EntryPoint Capital LLC now owns 331 shares of the technology company’s stock worth $38,000 after acquiring an additional 292 shares during the last quarter. 38.10% of the stock is currently owned by hedge funds and other institutional investors.

Dell Technologies Company Profile

(Get Free Report)

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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Dance Moms" star Christi Lukasiak is facing a DUI charge after a violent car crash .

Christi's daughter Chloe was a standout student on "Dance Moms," up until Season 4, when she and Christi butted heads with Abby Lee Miller -- accusing her of bullying Chloe, before pulling out of Abby's school. 

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 A secondary dam has failed in Nashville, Illinois, and evacuations are in place for residents in the city.

The secondary dam failure comes around 10 a.m., more than an hour after the Nashville dam failed, according to the Washington County Emergency Management Agency (EMA).

The Washington County Emergency Management Agency (EMA) first announced to the public the Nashville Dam has failed due to all the rainfall at 8:24 a.m.

More than five inches of rain has fallen in areas around the city.

 Wall Street analysts are too bullish on second quarter earnings expectations for most S&P 500 companies. The percentage of S&P 500 companies whose Street EPS exceeds Core EPS equals 75% through 1Q24. Street Earnings refer to Zacks Earnings, which are reported to remove non-recurring items using standardized assumptions from the sell-side.

This report shows:

• the frequency and magnitude of overstated Street Earnings in the S&P 500; and
• five S&P 500 companies likely to miss 2Q24 earnings.

Street EPS Are Higher Than Core EPS for 373 S&P 500 Companies

For 373 companies in the S&P 500, or 75%, Street Earnings are higher than Core Earnings in the trailing twelve months (TTM) ended 1Q24. In the TTM ended 4Q23, Street Earnings were overstated for 370 companies.

The more interesting trend, however, is in the percentage of the S&P 500 where Street Earnings overstate Core Earnings by more than 10%. That number equals 42% (212 companies), which is up from 41% (205 companies) in the TTM ended 4Q23.

Those 212 companies make up 26% of the market cap of the S&P 500 as of 7/8/24, which is up from 25% of the market cap in 4Q23, measured with TTM data in each quarter. See Figure 1.

Figure 1: Overstated Street Earnings by >10% as % of Market Cap: 2012 through 7/8/24

The 373 companies with overstated (by any amount) Street Earnings make up 70% of the market cap of the S&P 500 as of 7/8/24, which is up from 69% in 4Q23, measured with TTM data in each quarter.

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Figure 2: Overstated Street Earnings as % of Market Cap: 2012 through 7/8/24

Note that this analysis is based on my firm’s team analyzing the financial statements and footnotes for ~3,000 10-Ks and 10-Qs filed with the SEC for 1Q24 results.

When Street Earnings are higher than Core Earnings, they are overstated by an average of 19%, per Figure 3.

Figure 3: Street Earnings Overstated by 19% on Average in TTM Through 1Q24

Five S&P 500 Companies Likely to Miss 2Q24 Earnings

Figure 4 shows five S&P 500 companies likely to miss calendar 2Q24 earnings because their Street EPS estimates are overstated. Because investors and analysts tend to anchor their earnings projections to historical results, errors in historical Street EPS lead to errors in Street EPS estimates.

Figure 4: Five S&P 500 Companies Likely to Miss 2Q24 EPS Estimates

*Assumes Street Distortion as a percent of Core EPS is the same for 2Q24 EPS as for TTM ended 1Q24.

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