Dell Technologies Inc. (NYSE:DELL) Sees Large Drop in Short Interest

Dell Technologies Inc. (NYSE:DELL) was the target of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 12,450,000 shares, a decrease of 16.5% from the February 13th total of 14,910,000 shares. Based on an average daily volume of 8,250,000 shares, the days-to-cover ratio is currently 1.5 days. Approximately 3.3% of the company’s shares are short sold.

Insider Activity at Dell Technologies

In other 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 shares were sold at an average price of $124.52, for a total transaction of $40,489,794.84. Following the completion of the transaction, the director now directly owns 810,657 shares of the company’s stock, valued at $100,943,009.64. This trade represents a 28.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $119.73, for a total transaction 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. This represents a 38.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 824,937 shares of company stock worth $100,327,453. 46.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Dell Technologies

Institutional investors and hedge funds have recently modified their holdings of the business. Bellwether Advisors LLC acquired a new position in shares of Dell Technologies during the 4th quarter worth approximately $25,000. Vision Financial Markets LLC bought a new stake in shares of Dell Technologies in the fourth quarter valued at approximately $26,000. Lee Danner & Bass Inc. acquired a new stake in Dell Technologies during the fourth quarter worth approximately $26,000. Byrne Asset Management LLC acquired a new position in Dell Technologies in the 4th quarter valued at $28,000. Finally, True Wealth Design LLC lifted its position 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 acquiring an additional 253 shares during the period. 76.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Loop Capital reduced their price objective on shares of Dell Technologies from $185.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Mizuho decreased their price target on Dell Technologies from $155.00 to $150.00 and set an “outperform” rating for the company in a research note on Wednesday, November 27th. Evercore ISI reiterated an “outperform” rating and set a $150.00 price objective on shares of Dell Technologies in a research note on Wednesday, November 20th. Wells Fargo & Company decreased 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. Finally, Citigroup dropped their price target on shares of Dell Technologies from $156.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $141.24.

Dell Technologies Stock Performance

Shares of NYSE DELL traded down $1.37 during trading hours on Tuesday, reaching $96.29. 3,167,380 shares of the stock were exchanged, compared to its average volume of 10,085,547. The stock’s fifty day simple moving average is $107.25 and its 200 day simple moving average is $117.08. The firm has a market capitalization of $67.45 billion, a price-to-earnings ratio of 17.02, a P/E/G ratio of 1.10 and a beta of 0.83. Dell Technologies has a 52 week low of $86.93 and a 52 week high of $179.70.

Dell Technologies Increases Dividend

The company also recently announced 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 of this dividend is Tuesday, April 22nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.18%. This is an increase from Dell Technologies’s previous quarterly dividend of $0.45. Dell Technologies’s dividend payout ratio (DPR) is currently 33.76%.

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).