Dell Technologies (NYSE:DELL) Trading Up 0.9% – Here’s What Happened

Dell Technologies Inc. (NYSE:DELL) shares traded up 0.9% during mid-day trading on Wednesday . The company traded as high as $138.99 and last traded at $137.68. 1,106,216 shares were traded during mid-day trading, a decline of 89% from the average session volume of 10,118,591 shares. The stock had previously closed at $136.47.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Dell Technologies in a research report on Friday, September 27th. They set a “buy” rating and a $144.00 price target for the company. Mizuho initiated coverage on Dell Technologies in a research report on Tuesday, September 17th. They set an “outperform” rating and a $135.00 price objective for the company. Citigroup increased their target price on Dell Technologies from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. upped their price target on shares of Dell Technologies from $155.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Finally, Bank of America boosted their price objective on shares of Dell Technologies from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Dell Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $144.63.

Dell Technologies Price Performance

The firm has a market capitalization of $94.42 billion, a P/E ratio of 24.71, a P/E/G ratio of 1.42 and a beta of 0.89. The company’s 50-day simple moving average is $121.89 and its two-hundred day simple moving average is $126.31.

Dell Technologies (NYSE:DELL) last released its quarterly earnings results on Thursday, August 29th. The technology company reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.40. Dell Technologies had a negative return on equity of 178.09% and a net margin of 4.32%. The business had revenue of $25.03 billion during the quarter, compared to analyst estimates of $24.14 billion. During the same quarter in the previous year, the company posted $1.44 earnings per share. Dell Technologies’s revenue for the quarter was up 9.1% on a year-over-year basis. Analysts predict that Dell Technologies Inc. will post 6.92 earnings per share for the current year.

Dell Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 22nd were paid a $0.445 dividend. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.32%. Dell Technologies’s dividend payout ratio (DPR) is presently 32.72%.

Insider Buying and Selling

In other news, Director Radakovich Lynn Vojvodich sold 725 shares of Dell Technologies stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $129.50, for a total value of $93,887.50. Following the sale, the director now directly owns 23,680 shares of the company’s stock, valued at approximately $3,066,560. The trade was a 2.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael S. Dell sold 221,460 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $102.07, for a total value of $22,604,422.20. Following the transaction, the chief executive officer now directly owns 20,190,781 shares of the company’s stock, valued at approximately $2,060,873,016.67. The trade was a 1.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,953,387 shares of company stock valued at $2,113,353,236. Company insiders own 46.70% of the company’s stock.

Institutional Trading of Dell Technologies

Hedge funds have recently modified their holdings of the company. Capital World Investors bought a new stake in shares of Dell Technologies in the 1st quarter valued at approximately $835,946,000. International Assets Investment Management LLC boosted its stake in 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 period. DekaBank Deutsche Girozentrale raised its stake in shares of Dell Technologies by 83.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 2,224,975 shares of the technology company’s stock valued at $250,676,000 after acquiring an additional 1,011,512 shares during the period. Bahl & Gaynor Inc. lifted its holdings in shares of Dell Technologies by 159.8% in the 1st quarter. Bahl & Gaynor Inc. now owns 1,353,044 shares of the technology company’s stock worth $154,396,000 after acquiring an additional 832,144 shares during the last quarter. Finally, Alkeon Capital Management LLC grew its holdings in Dell Technologies by 48.3% during the 3rd quarter. Alkeon Capital Management LLC now owns 2,146,777 shares of the technology company’s stock valued at $254,479,000 after purchasing an additional 699,204 shares during the last quarter. 38.10% of the stock is 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).