Dell Technologies (NYSE:DELL) Trading Up 0.2% – Here’s What Happened

Dell Technologies Inc. (NYSE:DELL) shares shot up 0.2% during mid-day trading on Wednesday . The company traded as high as $127.51 and last traded at $126.04. 823,197 shares changed hands during trading, a decline of 92% from the average session volume of 10,446,267 shares. The stock had previously closed at $125.83.

Analysts Set New Price Targets

A number of research firms have weighed in on DELL. UBS Group reduced their target price on Dell Technologies from $164.00 to $158.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Raymond James decreased their price objective on shares of Dell Technologies from $166.00 to $160.00 and set an “outperform” rating for the company in a report on Friday, August 30th. Citigroup upped their target price on shares of Dell Technologies from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Susquehanna initiated coverage on shares of Dell Technologies in a research note on Tuesday, September 10th. They set a “neutral” rating and a $120.00 price target for the company. Finally, Morgan Stanley dropped their price objective on Dell Technologies from $142.00 to $136.00 and set an “overweight” rating on the stock in a research note on Thursday, August 29th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Dell Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.50.

Dell Technologies Stock Down 2.1 %

The company has a market cap of $89.70 billion, a PE ratio of 25.87, a P/E/G ratio of 1.29 and a beta of 0.90. The business has a 50-day simple moving average of $114.28 and a 200-day simple moving average of $125.40.

Dell Technologies (NYSE:DELL) last announced its earnings results on Thursday, August 29th. The technology company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The firm had revenue of $25.03 billion for the quarter, compared to analyst estimates of $24.14 billion. Dell Technologies had a negative return on equity of 178.09% and a net margin of 4.32%. The business’s revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.44 EPS. On average, research analysts forecast that Dell Technologies Inc. will post 6.91 EPS for the current fiscal year.

Dell Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 22nd will be paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Tuesday, October 22nd. Dell Technologies’s dividend payout ratio is presently 36.33%.

Insider Buying and Selling

In other news, CEO Michael S. Dell sold 10,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $122.40, for a total value of $1,224,000,000.00. Following the transaction, the chief executive officer now owns 16,912,241 shares in the company, valued at $2,070,058,298.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Dell Technologies news, CEO Michael S. Dell sold 221,460 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.07, for a total value of $22,604,422.20. Following the completion of the sale, the chief executive officer now owns 20,190,781 shares in the company, valued at approximately $2,060,873,016.67. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael S. Dell sold 10,000,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $122.40, for a total value of $1,224,000,000.00. Following the transaction, the chief executive officer now owns 16,912,241 shares in the company, valued at approximately $2,070,058,298.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,953,387 shares of company stock worth $2,113,353,236. Insiders own 46.70% of the company’s stock.

Hedge Funds Weigh In On Dell Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates boosted its position in shares of Dell Technologies by 21.4% during the 3rd quarter. Raymond James & Associates now owns 586,858 shares of the technology company’s stock valued at $69,566,000 after acquiring an additional 103,296 shares during the last quarter. Blue Trust Inc. raised its stake in Dell Technologies by 132.1% during the third quarter. Blue Trust Inc. now owns 1,409 shares of the technology company’s stock worth $167,000 after purchasing an additional 802 shares during the period. KMG Fiduciary Partners LLC acquired a new position in Dell Technologies in the 3rd quarter valued at about $2,272,000. OmniStar Financial Group Inc. grew its stake in shares of Dell Technologies by 44.8% in the 3rd quarter. OmniStar Financial Group Inc. now owns 5,824 shares of the technology company’s stock valued at $694,000 after buying an additional 1,801 shares during the period. Finally, Stonegate Investment Group LLC acquired a new stake in shares of Dell Technologies during the 3rd quarter worth approximately $679,000. Institutional investors and hedge funds own 38.10% of the company’s stock.

Dell Technologies Company Profile

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).