Dell Technologies (NYSE:DELL) Shares Up 2.1% – Here’s What Happened

Dell Technologies Inc. (NYSE:DELL)’s share price traded up 2.1% on Wednesday . The company traded as high as $95.98 and last traded at $93.52. 2,615,035 shares were traded during trading, a decline of 70% from the average session volume of 8,685,489 shares. The stock had previously closed at $91.57.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Evercore ISI restated an “outperform” rating and set a $150.00 target price on shares of Dell Technologies in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft decreased their price objective on Dell Technologies from $144.00 to $142.00 and set a “buy” rating for the company in a report on Monday, December 2nd. Bank of America decreased their price objective on Dell Technologies from $155.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. JPMorgan Chase & Co. decreased their price objective on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Finally, Mizuho decreased their price objective on Dell Technologies from $155.00 to $150.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $141.24.

Dell Technologies Trading Up 3.3 %

The firm has a 50-day simple moving average of $108.27 and a two-hundred day simple moving average of $117.21. The company has a market capitalization of $66.91 billion, a price-to-earnings ratio of 16.80, a P/E/G ratio of 1.10 and a beta of 0.83.

Dell Technologies Increases Dividend

The firm 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 dividend of $0.525 per share. The ex-dividend date is Tuesday, April 22nd. This is a boost from Dell Technologies’s previous quarterly dividend of $0.45. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.20%. Dell Technologies’s dividend payout ratio (DPR) is 33.76%.

Insider Activity

In other news, Director Radakovich Lynn Vojvodich sold 725 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $120.00, for a total transaction of $87,000.00. Following the sale, the director now directly owns 23,680 shares in the company, valued at $2,841,600. This trade represents a 2.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director V (Gp) L.L.C. Slta sold 325,167 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 810,657 shares in the company, valued at $100,943,009.64. This trade represents a 28.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 825,662 shares of company stock worth $100,414,453 in the last ninety days. Company insiders own 46.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Burns J W & Co. Inc. NY purchased a new position in Dell Technologies in the 4th quarter valued at about $1,272,000. iA Global Asset Management Inc. lifted its stake in Dell Technologies by 84.7% in the 3rd quarter. iA Global Asset Management Inc. now owns 11,345 shares of the technology company’s stock valued at $1,345,000 after buying an additional 5,203 shares in the last quarter. Sky Investment Group LLC purchased a new position in Dell Technologies in the 4th quarter worth approximately $1,687,000. Enclave Advisors LLC purchased a new position in Dell Technologies in the 4th quarter worth approximately $848,000. Finally, Empowered Funds LLC lifted its stake in Dell Technologies by 12.9% in the 4th quarter. Empowered Funds LLC now owns 30,388 shares of the technology company’s stock worth $3,502,000 after purchasing an additional 3,470 shares in the last quarter. 76.37% of the stock is owned by hedge funds and other institutional investors.

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).