Dell Technologies Inc. (NYSE:DELL) Increases Dividend to $0.53 Per Share

Dell Technologies Inc. (NYSE:DELL) announced a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Shareholders of record on Tuesday, April 22nd will be given a dividend of 0.525 per share by the technology company on Friday, May 2nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Tuesday, April 22nd. This is an increase from Dell Technologies’s previous quarterly dividend of $0.45.

Dell Technologies has a payout ratio of 17.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Dell Technologies to earn $8.16 per share next year, which means the company should continue to be able to cover its $1.78 annual dividend with an expected future payout ratio of 21.8%.

Dell Technologies Stock Down 4.6 %

Dell Technologies stock opened at $102.85 on Friday. The business has a 50-day simple moving average of $112.57 and a two-hundred day simple moving average of $118.30. The company has a market cap of $72.04 billion, a P/E ratio of 18.17, a P/E/G ratio of 1.10 and a beta of 0.90. Dell Technologies has a 52-week low of $86.93 and a 52-week high of $179.70.

Insider Transactions at Dell Technologies

In other news, Director Radakovich Lynn Vojvodich sold 725 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $120.00, for a total transaction of $87,000.00. Following the sale, the director now directly owns 23,680 shares of the company’s stock, valued at $2,841,600. This represents a 2.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $119.73, for a total value of $59,750,657.85. Following the sale, the director now directly owns 810,657 shares in the company, valued at $97,059,962.61. This trade represents a 38.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 937,407 shares of company stock valued at $114,418,186 in the last ninety days. Corporate insiders own 46.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on DELL shares. Deutsche Bank Aktiengesellschaft cut their price target on Dell Technologies from $144.00 to $142.00 and set a “buy” rating for the company in a research note on Monday, December 2nd. Wells Fargo & Company cut their price objective on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Friday. OTR Global upgraded Dell Technologies from a “negative” rating to a “positive” rating in a research note on Wednesday, February 12th. Barclays boosted their price objective on Dell Technologies from $115.00 to $116.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, JPMorgan Chase & Co. cut their price objective on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.53.

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).