Dell Technologies (NYSE:DELL) Shares Up 2.4% – Here’s What Happened

Dell Technologies Inc. (NYSE:DELL) was up 2.4% during trading on Monday . The company traded as high as $98.00 and last traded at $97.95. Approximately 1,247,195 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 8,508,842 shares. The stock had previously closed at $95.67.

Analyst Ratings Changes

A number of research analysts recently commented on DELL shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Dell Technologies from $144.00 to $142.00 and set a “buy” rating on the stock in a research report on Monday, December 2nd. Wells Fargo & Company reduced their target price on shares of Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Citigroup reduced their price objective on shares of Dell Technologies from $156.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Melius Research raised their price objective on shares of Dell Technologies from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, Barclays raised their price objective on shares of Dell Technologies from $115.00 to $116.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.24.

Dell Technologies Stock Up 2.9 %

The firm has a market capitalization of $68.98 billion, a PE ratio of 17.40, a P/E/G ratio of 1.10 and a beta of 0.83. The business’s fifty day moving average price is $107.79 and its 200 day moving average price is $117.17.

Dell Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Tuesday, April 22nd will be issued a dividend of $0.525 per share. The ex-dividend date is Tuesday, April 22nd. This is an increase 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 2.13%. Dell Technologies’s payout ratio is 33.76%.

Insider Transactions at Dell Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $97,059,962.61. The trade was a 38.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Radakovich Lynn Vojvodich sold 725 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $120.00, for a total transaction of $87,000.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 824,937 shares of company stock worth $100,327,453 over the last ninety days. 46.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dell Technologies

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Dell Technologies by 10.5% during the fourth quarter. Vanguard Group Inc. now owns 27,960,560 shares of the technology company’s stock worth $3,222,175,000 after buying an additional 2,662,407 shares during the period. State Street Corp grew its stake in Dell Technologies by 92.4% during the third quarter. State Street Corp now owns 12,767,011 shares of the technology company’s stock worth $1,513,401,000 after buying an additional 6,131,507 shares during the period. Capital World Investors grew its stake 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 worth $1,436,000,000 after buying an additional 72,271 shares during the period. Geode Capital Management LLC grew 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 buying an additional 552,213 shares during the period. Finally, Norges Bank purchased a new stake in Dell Technologies during the fourth quarter worth approximately $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).