Dell Technologies Inc. (NYSE:DELL) Short Interest Down 8.8% in October

Dell Technologies Inc. (NYSE:DELL) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 9,430,000 shares, a drop of 8.8% from the October 15th total of 10,340,000 shares. Based on an average daily trading volume, of 10,100,000 shares, the days-to-cover ratio is presently 0.9 days.

Analysts Set New Price Targets

DELL has been the subject of several research analyst reports. Citigroup increased their target price on Dell Technologies from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Bank of America lifted their price target on Dell Technologies from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. JPMorgan Chase & Co. boosted their price objective on shares of Dell Technologies from $155.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Fox Advisors raised shares of Dell Technologies from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 30th. Finally, Susquehanna initiated coverage on Dell Technologies in a research note on Tuesday, September 10th. They issued a “neutral” rating and a $120.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $145.88.

Insider Transactions at Dell Technologies

In other news, Director Radakovich Lynn Vojvodich sold 725 shares of Dell Technologies stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $129.50, for a total transaction of $93,887.50. Following the completion of the transaction, the director now directly owns 23,680 shares in the company, valued at approximately $3,066,560. This trade represents a 2.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael S. Dell sold 10,000,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were 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 of the company’s stock, valued at $2,070,058,298.40. The trade was a 37.16 % 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. 46.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dell Technologies

Large investors have recently made changes to their positions in the stock. Clean Yield Group purchased a new stake in Dell Technologies in the 3rd quarter valued at $25,000. Accordant Advisory Group Inc acquired a new position in Dell Technologies in the 2nd quarter valued at about $28,000. New Covenant Trust Company N.A. acquired a new stake in shares of Dell Technologies during the 1st quarter worth approximately $30,000. True Wealth Design LLC raised its position in shares of Dell Technologies by 2,530.0% during the 3rd quarter. True Wealth Design LLC now owns 263 shares of the technology company’s stock valued at $31,000 after buying an additional 253 shares during the period. Finally, Nemes Rush Group LLC acquired a new position in shares of Dell Technologies in the 2nd quarter valued at $33,000. 38.10% of the stock is currently owned by hedge funds and other institutional investors.

Dell Technologies Trading Down 0.9 %

NYSE:DELL traded down $1.22 during trading hours on Tuesday, hitting $134.79. 2,560,397 shares of the stock were exchanged, compared to its average volume of 10,032,979. The company has a market cap of $94.68 billion, a P/E ratio of 24.64, a P/E/G ratio of 1.39 and a beta of 0.89. The firm’s fifty day moving average price is $123.63 and its 200 day moving average price is $126.55. Dell Technologies has a 52-week low of $67.51 and a 52-week high of $179.70.

Dell Technologies (NYSE:DELL) last announced its quarterly earnings data on Thursday, August 29th. The technology company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Dell Technologies had a negative return on equity of 178.09% and a net margin of 4.32%. The company had revenue of $25.03 billion for the quarter, compared to analyst estimates of $24.14 billion. During the same quarter last year, the firm posted $1.44 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities analysts expect that Dell Technologies will post 6.92 EPS for the current fiscal year.

Dell Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 22nd were paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Tuesday, October 22nd. Dell Technologies’s dividend payout ratio (DPR) is 32.72%.

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).