Dell Technologies (NYSE:DELL) Shares Down 0.6% – Here’s Why

Dell Technologies Inc. (NYSE:DELL) shares fell 0.6% during trading on Wednesday . The company traded as low as $97.80 and last traded at $98.25. 1,667,809 shares traded hands during trading, a decline of 83% from the average session volume of 10,022,227 shares. The stock had previously closed at $98.86.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DELL. Citigroup decreased their target price on Dell Technologies from $156.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Deutsche Bank Aktiengesellschaft cut their target price on shares of Dell Technologies from $144.00 to $142.00 and set a “buy” rating on the stock in a report on Monday, December 2nd. OTR Global upgraded shares of Dell Technologies from a “negative” rating to a “positive” rating in a research note on Wednesday, February 12th. Morgan Stanley reduced their target price on shares of Dell Technologies from $154.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Finally, The Goldman Sachs Group dropped their price target on Dell Technologies from $165.00 to $145.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Dell Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.24.

Dell Technologies Price Performance

The business has a 50-day moving average price of $104.66 and a two-hundred day moving average price of $116.31. The firm has a market cap of $64.68 billion, a PE ratio of 16.32, a PEG ratio of 1.10 and a beta of 0.83.

Dell Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Tuesday, April 22nd will be given a $0.525 dividend. The ex-dividend date is Tuesday, April 22nd. This is a positive change from Dell Technologies’s previous quarterly dividend of $0.45. This represents a $2.10 annualized dividend and a dividend yield of 2.27%. Dell Technologies’s dividend payout ratio is currently 33.76%.

Insider Buying and Selling

In other Dell Technologies news, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $119.73, for a total transaction of $59,750,657.85. Following the transaction, the director now owns 810,657 shares of the company’s stock, valued at $97,059,962.61. This represents a 38.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director V (Gp) L.L.C. Slta sold 325,167 shares of Dell Technologies stock in a transaction on Monday, January 6th. The shares were sold at an average price of $124.52, for a total value of $40,489,794.84. Following the completion of the sale, the director now directly owns 810,657 shares of the company’s stock, valued at approximately $100,943,009.64. This represents a 28.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 824,937 shares of company stock worth $100,327,453 in the last ninety days. Insiders own 46.70% of the company’s stock.

Institutional Trading of Dell Technologies

A number of hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its position in shares of Dell Technologies by 92.4% in the third quarter. State Street Corp now owns 12,767,011 shares of the technology company’s stock worth $1,513,401,000 after acquiring an additional 6,131,507 shares during the last quarter. Norges Bank acquired a new stake in shares of Dell Technologies during the 4th quarter worth $455,029,000. Vanguard Group Inc. raised its position in shares of Dell Technologies by 10.5% in the 4th quarter. Vanguard Group Inc. now owns 27,960,560 shares of the technology company’s stock worth $3,222,175,000 after buying an additional 2,662,407 shares during the period. Geode Capital Management LLC grew its position in Dell Technologies by 71.8% during the third quarter. Geode Capital Management LLC now owns 6,317,829 shares of the technology company’s stock valued at $746,596,000 after acquiring an additional 2,641,456 shares during the period. Finally, Michael & Susan Dell Foundation acquired a new stake in Dell Technologies during the fourth quarter worth about $265,052,000. 76.37% of the stock is owned by institutional investors and hedge funds.

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).