Dell Technologies (NYSE:DELL) Shares Up 2.6% – Here’s What Happened

Dell Technologies Inc. (NYSE:DELL)’s share price was up 2.6% on Wednesday . The stock traded as high as $104.29 and last traded at $104.29. Approximately 2,576,723 shares traded hands during trading, a decline of 69% from the average daily volume of 8,218,651 shares. The stock had previously closed at $101.67.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on DELL shares. Morgan Stanley raised their price objective on Dell Technologies from $136.00 to $154.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Melius Research upped their price target on Dell Technologies from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft cut their price objective on Dell Technologies from $144.00 to $142.00 and set a “buy” rating on the stock in a report on Monday, December 2nd. Evercore ISI reiterated an “outperform” rating and set a $150.00 price target on shares of Dell Technologies in a research note on Wednesday, November 20th. Finally, Mizuho lowered their price objective on shares of Dell Technologies from $155.00 to $150.00 and set an “outperform” rating for the company in a research note on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $148.06.

Dell Technologies Stock Performance

The business has a 50-day moving average of $115.66 and a 200 day moving average of $117.57. The stock has a market cap of $73.92 billion, a PE ratio of 18.65, a PEG ratio of 1.10 and a beta of 0.90.

Dell Technologies (NYSE:DELL) last released its quarterly earnings results on Tuesday, November 26th. The technology company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.32. Dell Technologies had a net margin of 4.36% and a negative return on equity of 191.91%. The firm had revenue of $24.37 billion for the quarter, compared to the consensus estimate of $24.67 billion. During the same quarter in the previous year, the firm posted $1.62 EPS. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. Equities analysts expect that Dell Technologies Inc. will post 6.92 EPS for the current fiscal year.

Dell Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 22nd were paid a $0.445 dividend. The ex-dividend date of this dividend was Wednesday, January 22nd. This represents a $1.78 annualized dividend and a dividend yield of 1.69%. Dell Technologies’s payout ratio is 31.45%.

Insider Transactions at Dell Technologies

In related news, Director V (Gp) L.L.C. Slta sold 325,167 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $124.52, for a total transaction of $40,489,794.84. Following the completion of the sale, the director now directly owns 810,657 shares in the company, valued at approximately $100,943,009.64. This trade represents a 28.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 dated Wednesday, January 8th. The stock was sold at an average price of $119.73, for a total value of $59,750,657.85. Following the sale, the director now directly owns 810,657 shares of the company’s stock, valued at $97,059,962.61. This trade represents a 38.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 946,132 shares of company stock valued at $115,660,009. Company insiders own 46.70% of the company’s stock.

Institutional Trading of Dell Technologies

A number of institutional investors and hedge funds have recently modified their holdings of DELL. State Street Corp increased its position in Dell Technologies by 92.4% in the 3rd quarter. State Street Corp now owns 12,767,011 shares of the technology company’s stock valued at $1,513,401,000 after acquiring an additional 6,131,507 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Dell Technologies by 71.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,317,829 shares of the technology company’s stock worth $746,596,000 after buying an additional 2,641,456 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Dell Technologies by 19,376.1% during the third quarter. International Assets Investment Management LLC now owns 2,427,699 shares of the technology company’s stock worth $287,779,000 after buying an additional 2,415,234 shares during the last quarter. Swedbank AB boosted its holdings in Dell Technologies by 803.6% during the fourth quarter. Swedbank AB now owns 1,901,112 shares of the technology company’s stock worth $219,084,000 after buying an additional 1,690,709 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Dell Technologies by 63.6% in the fourth quarter. Bank of New York Mellon Corp now owns 2,931,240 shares of the technology company’s stock worth $337,796,000 after purchasing an additional 1,139,318 shares during the period. 76.37% of the stock is currently owned by 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).