Dell Technologies (NYSE:DELL) Trading Down 2.4% – Here’s What Happened

Dell Technologies Inc. (NYSE:DELL)’s stock price was down 2.4% on Thursday . The stock traded as low as $93.00 and last traded at $94.94. Approximately 2,030,980 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 8,702,240 shares. The stock had previously closed at $97.25.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. TD Cowen cut their price target on shares of Dell Technologies from $128.00 to $120.00 and set a “hold” rating for the company in a report on Friday, February 28th. Morgan Stanley reduced their price target on Dell Technologies from $154.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Bank of America dropped their price objective on Dell Technologies from $155.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. JPMorgan Chase & Co. reduced their target price 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, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Dell Technologies from $144.00 to $142.00 and set a “buy” rating on the stock in a research note on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $141.24.

Dell Technologies Price Performance

The firm has a market capitalization of $65.14 billion, a PE ratio of 16.43, a P/E/G ratio of 1.10 and a beta of 0.90. The company has a 50-day moving average price of $111.17 and a 200-day moving average price of $118.04.

Dell Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.525 per share. This is a boost from Dell Technologies’s previous quarterly dividend of $0.45. This represents a $2.10 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Tuesday, April 22nd. Dell Technologies’s dividend payout ratio (DPR) is currently 33.76%.

Insider Transactions at Dell Technologies

In other Dell Technologies 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 value of $87,000.00. Following the sale, the director now directly owns 23,680 shares of the company’s stock, valued at approximately $2,841,600. This trade represents a 2.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 810,657 shares of the company’s stock, valued at approximately $97,059,962.61. This represents a 38.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 929,407 shares of company stock worth $113,411,626 over the last ninety days. 46.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dell Technologies

A number of institutional investors have recently bought and sold shares of DELL. Vanguard Group Inc. boosted its holdings in shares of Dell Technologies by 10.5% in the 4th quarter. Vanguard Group Inc. now owns 27,960,560 shares of the technology company’s stock valued at $3,222,175,000 after purchasing an additional 2,662,407 shares during the last quarter. State Street Corp boosted its holdings in Dell Technologies by 92.4% in the third 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 during the last quarter. Capital World Investors grew its position in Dell Technologies by 0.6% during the fourth quarter. Capital World Investors now owns 12,460,949 shares of the technology company’s stock valued at $1,436,000,000 after acquiring an additional 72,271 shares during the period. Geode Capital Management LLC increased its stake in Dell Technologies by 8.7% during the fourth quarter. Geode Capital Management LLC now owns 6,870,042 shares of the technology company’s stock worth $789,680,000 after acquiring an additional 552,213 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Dell Technologies in the 4th quarter worth about $455,029,000. 76.37% of the stock is currently 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).