Short Interest in Dell Technologies Inc. (NYSE:DELL) Drops By 16.5%

Dell Technologies Inc. (NYSE:DELL) was the recipient of a large drop in short interest during the month of February. As of February 28th, there was short interest totalling 12,450,000 shares, a drop of 16.5% from the February 13th total of 14,910,000 shares. Approximately 3.3% of the shares of the company are sold short. Based on an average daily trading volume, of 8,250,000 shares, the days-to-cover ratio is presently 1.5 days.

Dell Technologies Stock Performance

NYSE:DELL traded up $2.29 during trading hours on Wednesday, hitting $98.73. 5,453,189 shares of the company’s stock traded hands, compared to its average volume of 10,095,071. Dell Technologies has a twelve month low of $86.93 and a twelve month high of $179.70. The stock’s fifty day moving average price is $106.75 and its two-hundred day moving average price is $116.94. The firm has a market cap of $69.15 billion, a P/E ratio of 17.44, a P/E/G ratio of 1.10 and a beta of 0.83.

Dell Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Tuesday, April 22nd will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend is Tuesday, April 22nd. This is a positive change from Dell Technologies’s previous quarterly dividend of $0.45. Dell Technologies’s dividend payout ratio is currently 33.76%.

Insider Buying and Selling

In other Dell Technologies news, Director Radakovich Lynn Vojvodich sold 725 shares of Dell Technologies stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $120.00, for a total value of $87,000.00. Following the sale, the director now owns 23,680 shares of the company’s stock, valued at approximately $2,841,600. The trade was a 2.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $119.73, for a total value of $59,750,657.85. Following the completion of the sale, the director now directly owns 810,657 shares of the company’s stock, valued at approximately $97,059,962.61. This trade represents a 38.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 824,937 shares of company stock worth $100,327,453 in the last quarter. 46.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Dell Technologies

A number of institutional investors have recently modified their holdings of the stock. Chancellor Financial Group WB LP acquired a new position in Dell Technologies in the fourth quarter worth approximately $313,000. California State Teachers Retirement System boosted its stake in shares of Dell Technologies by 9.5% during the 4th quarter. California State Teachers Retirement System now owns 505,496 shares of the technology company’s stock worth $58,253,000 after acquiring an additional 43,715 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Dell Technologies in the fourth quarter worth about $32,599,000. Centaurus Financial Inc. raised its holdings in Dell Technologies by 25.2% in the 4th quarter. Centaurus Financial Inc. now owns 7,695 shares of the technology company’s stock valued at $887,000 after acquiring an additional 1,547 shares in the last quarter. Finally, Capstone Triton Financial Group LLC grew its holdings in shares of Dell Technologies by 26.1% during the 4th quarter. Capstone Triton Financial Group LLC now owns 7,061 shares of the technology company’s stock worth $814,000 after purchasing an additional 1,463 shares in the last quarter. Institutional investors and hedge funds own 76.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group cut their target price on shares of Dell Technologies from $165.00 to $145.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. JPMorgan Chase & Co. dropped their target price on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. TD Cowen decreased their price target on Dell Technologies from $128.00 to $120.00 and set a “hold” rating for the company in a report on Friday, February 28th. Bank of America reduced their target price on shares of Dell Technologies from $155.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. Finally, Citigroup dropped their price target on shares of Dell Technologies from $156.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.24.

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).