Dell Technologies (NYSE:DELL) Trading Down 2.8% – Here’s What Happened

Dell Technologies Inc. (NYSE:DELL) traded down 2.8% on Monday . The company traded as low as $88.40 and last traded at $89.68. 1,596,621 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 10,226,299 shares. The stock had previously closed at $92.29.

Wall Street Analysts Forecast Growth

DELL has been the topic of several recent research reports. TD Cowen dropped their price target on Dell Technologies from $128.00 to $120.00 and set a “hold” rating on the stock in a research note on Friday, February 28th. JPMorgan Chase & Co. reduced their price target on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. The Goldman Sachs Group lowered their price objective on shares of Dell Technologies from $165.00 to $145.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Loop Capital decreased their target price on shares of Dell Technologies from $185.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Finally, OTR Global upgraded shares of Dell Technologies from a “negative” rating to a “positive” rating in a research note on Wednesday, February 12th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.24.

Dell Technologies Stock Performance

The firm has a market cap of $64.34 billion, a P/E ratio of 16.23, a P/E/G ratio of 1.10 and a beta of 0.83. The firm’s fifty day moving average is $103.54 and its 200 day moving average is $116.03.

Dell Technologies Increases Dividend

The company also recently announced 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. This is an increase from Dell Technologies’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, April 22nd. This represents a $2.10 annualized dividend and a dividend yield of 2.29%. Dell Technologies’s dividend payout ratio is presently 33.76%.

Insider Transactions at Dell Technologies

In other Dell Technologies news, CAO Brunilda Rios sold 926 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $93.29, for a total transaction of $86,386.54. Following the transaction, the chief accounting officer now owns 37,948 shares in the company, valued at $3,540,168.92. This represents a 2.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of Dell Technologies stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $119.73, for a total transaction of $59,750,657.85. Following the completion of the sale, the director now owns 810,657 shares of the company’s stock, valued at approximately $97,059,962.61. The trade was a 38.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 825,863 shares of company stock worth $100,413,839. Company insiders own 46.70% of the company’s stock.

Institutional Trading of Dell Technologies

Large investors have recently modified their holdings of the stock. Optimist Retirement Group LLC increased its holdings in Dell Technologies by 27.3% in the 3rd quarter. Optimist Retirement Group LLC now owns 2,157 shares of the technology company’s stock valued at $256,000 after buying an additional 463 shares during the period. Townsquare Capital LLC bought a new position in Dell Technologies in the third quarter valued at approximately $557,000. Public Sector Pension Investment Board acquired a new position in Dell Technologies during the third quarter valued at approximately $1,583,000. Rockefeller Capital Management L.P. lifted its stake in Dell Technologies by 8.2% during the third quarter. Rockefeller Capital Management L.P. now owns 116,318 shares of the technology company’s stock worth $13,788,000 after purchasing an additional 8,772 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in shares of Dell Technologies by 23.4% in the 3rd quarter. Captrust Financial Advisors now owns 27,309 shares of the technology company’s stock valued at $3,237,000 after purchasing an additional 5,181 shares in the last quarter. 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).