Dell Technologies (NYSE:DELL) Shares Gap Up to $120.63

Dell Technologies Inc. (NYSE:DELL) gapped up prior to trading on Wednesday . The stock had previously closed at $120.63, but opened at $126.01. Dell Technologies shares last traded at $121.88, with a volume of 1,889,654 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on DELL shares. The Goldman Sachs Group lifted their price objective on Dell Technologies from $87.00 to $129.00 and gave the company a “buy” rating in a research note on Monday, March 4th. UBS Group raised their target price on Dell Technologies from $113.00 to $141.00 and gave the company a “buy” rating in a report on Friday, April 19th. Barclays raised their target price on Dell Technologies from $53.00 to $94.00 and gave the company an “underweight” rating in a report on Friday, March 1st. Evercore ISI raised their target price on Dell Technologies from $95.00 to $125.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Finally, Loop Capital started coverage on Dell Technologies in a report on Wednesday, February 28th. They set a “buy” rating and a $125.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $104.63.

Dell Technologies Trading Up 0.2 %

The firm has a market cap of $86.28 billion, a price-to-earnings ratio of 27.61, a price-to-earnings-growth ratio of 1.46 and a beta of 0.92. The stock has a 50-day moving average of $110.26 and a 200-day moving average of $87.21.

Dell Technologies (NYSE:DELL) last released its quarterly earnings data on Thursday, February 29th. The technology company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.47. Dell Technologies had a negative return on equity of 172.07% and a net margin of 3.63%. The business had revenue of $22.32 billion during the quarter, compared to analyst estimates of $22.17 billion. During the same quarter in the previous year, the firm posted $1.55 EPS. The business’s revenue for the quarter was down 10.9% compared to the same quarter last year. As a group, research analysts expect that Dell Technologies Inc. will post 6.58 earnings per share for the current fiscal year.

Dell Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd will be given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Monday, April 22nd. This is a positive change from Dell Technologies’s previous quarterly dividend of $0.37. Dell Technologies’s payout ratio is 40.73%.

Insiders Place Their Bets

In other Dell Technologies news, Director V (Gp) L.L.C. Slta sold 373,375 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $126.32, for a total transaction of $47,164,730.00. Following the completion of the transaction, the director now owns 408,694 shares in the company, valued at approximately $51,626,226.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director V (Gp) L.L.C. Slta sold 373,375 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $126.32, for a total value of $47,164,730.00. Following the sale, the director now owns 408,694 shares of the company’s stock, valued at approximately $51,626,226.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Richard J. Rothberg sold 93,954 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $132.95, for a total value of $12,491,184.30. Following the completion of the sale, the general counsel now directly owns 86,836 shares in the company, valued at approximately $11,544,846.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,382,204 shares of company stock worth $718,452,037. 48.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dell Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James & Associates raised its position in shares of Dell Technologies by 27.2% during the fourth quarter. Raymond James & Associates now owns 273,676 shares of the technology company’s stock worth $20,936,000 after purchasing an additional 58,590 shares during the period. Nordea Investment Management AB raised its position in shares of Dell Technologies by 158.3% during the fourth quarter. Nordea Investment Management AB now owns 232,231 shares of the technology company’s stock worth $17,762,000 after purchasing an additional 142,337 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Dell Technologies by 1,475.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 290,592 shares of the technology company’s stock worth $22,230,000 after purchasing an additional 272,144 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in Dell Technologies by 13.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 81,380 shares of the technology company’s stock valued at $6,226,000 after buying an additional 9,538 shares during the period. Finally, AustralianSuper Pty Ltd raised its position in Dell Technologies by 14.0% during the fourth quarter. AustralianSuper Pty Ltd now owns 1,339,514 shares of the technology company’s stock valued at $102,473,000 after buying an additional 164,930 shares during the period. 38.10% 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).