Dell Technologies (NYSE:DELL) Stock Price Up 5.1% – Here’s Why

Dell Technologies Inc. (NYSE:DELL) shares were up 5.1% on Wednesday . The stock traded as high as $120.97 and last traded at $116.74. Approximately 6,345,847 shares were traded during mid-day trading, a decline of 12% from the average daily volume of 7,227,128 shares. The stock had previously closed at $111.11.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DELL. Citigroup reduced their price target on Dell Technologies from $160.00 to $156.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Evercore ISI reaffirmed an “outperform” rating and set a $150.00 target price on shares of Dell Technologies in a research report on Wednesday, November 20th. Wells Fargo & Company increased their price objective on shares of Dell Technologies from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Melius Research raised their target price on Dell Technologies from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Dell Technologies from $144.00 to $142.00 and set a “buy” rating for the company in a report on Monday, December 2nd. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.06.

Dell Technologies Trading Up 4.6 %

The business has a fifty day simple moving average of $121.92 and a two-hundred day simple moving average of $119.70. The company has a market cap of $81.38 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.16 and a beta of 0.92.

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

Dell Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 22nd will be issued a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Wednesday, January 22nd. Dell Technologies’s dividend payout ratio (DPR) is 31.45%.

Insider Buying and Selling

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 stock was sold at an average price of $124.52, for a total transaction of $40,489,794.84. Following the transaction, the director now owns 810,657 shares in the company, valued at $100,943,009.64. This trade represents a 28.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Yvonne Mcgill sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $143.24, for a total transaction of $1,145,920.00. Following the transaction, the chief financial officer now owns 236,419 shares in the company, valued at approximately $33,864,657.56. This trade represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 945,407 shares of company stock worth $115,573,009 over the last 90 days. 46.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Dell Technologies

Hedge funds have recently bought and sold shares of the stock. Clean Yield Group purchased a new stake in Dell Technologies in the 3rd quarter valued at about $25,000. True Wealth Design LLC grew its stake in shares of Dell Technologies by 2,530.0% during the 3rd quarter. True Wealth Design LLC now owns 263 shares of the technology company’s stock valued at $31,000 after buying an additional 253 shares during the period. Nemes Rush Group LLC purchased a new stake in shares of Dell Technologies during the 2nd quarter valued at $33,000. MCF Advisors LLC grew its position in Dell Technologies by 132.0% during the third quarter. MCF Advisors LLC now owns 290 shares of the technology company’s stock valued at $34,000 after acquiring an additional 165 shares during the period. Finally, Covestor Ltd grew its stake in Dell Technologies by 290.7% during the third quarter. Covestor Ltd now owns 293 shares of the technology company’s stock worth $35,000 after buying an additional 218 shares during the period. Hedge funds and other institutional investors own 76.37% of the company’s stock.

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).