Dell Technologies (NYSE:DELL) Shares Gap Down – Here’s Why

Dell Technologies Inc. (NYSE:DELL)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $97.10, but opened at $94.38. Dell Technologies shares last traded at $93.21, with a volume of 1,124,463 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Bank of America decreased their price target on shares of Dell Technologies from $155.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. OTR Global upgraded Dell Technologies from a “negative” rating to a “positive” rating in a research note on Wednesday, February 12th. Barclays raised their price objective on Dell Technologies from $115.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. dropped their target price on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Finally, Loop Capital reduced their price target on shares of Dell Technologies from $185.00 to $130.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Dell Technologies currently has a consensus rating of “Moderate Buy” and an average target price of $141.24.

Dell Technologies Price Performance

The company has a market capitalization of $64.68 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 1.10 and a beta of 0.83. The firm has a fifty day simple moving average of $104.31 and a 200 day simple moving average of $116.28.

Dell Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Tuesday, April 22nd will be issued a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Tuesday, April 22nd. This is a positive change from Dell Technologies’s previous quarterly dividend of $0.45. Dell Technologies’s payout ratio is presently 33.76%.

Insider Activity

In related news, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of Dell Technologies stock in a transaction dated 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 approximately $97,059,962.61. The trade was a 38.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Radakovich Lynn Vojvodich sold 725 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $120.00, for a total value of $87,000.00. Following the transaction, the director now directly owns 23,680 shares of the company’s stock, valued at $2,841,600. The trade was a 2.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 824,937 shares of company stock worth $100,327,453 over the last 90 days. 46.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dell Technologies

A number of hedge funds have recently modified their holdings of DELL. Allen Capital Group LLC boosted its stake in Dell Technologies by 3.3% during the fourth quarter. Allen Capital Group LLC now owns 2,936 shares of the technology company’s stock worth $338,000 after buying an additional 95 shares during the last quarter. Brooklyn Investment Group grew its holdings in shares of Dell Technologies by 18.7% in the fourth quarter. Brooklyn Investment Group now owns 610 shares of the technology company’s stock valued at $70,000 after purchasing an additional 96 shares during the period. Sunflower Bank N.A. increased its position in Dell Technologies by 3.1% during the fourth quarter. Sunflower Bank N.A. now owns 3,256 shares of the technology company’s stock worth $375,000 after purchasing an additional 98 shares during the last quarter. Bogart Wealth LLC raised its stake in Dell Technologies by 7.7% during the fourth quarter. Bogart Wealth LLC now owns 1,398 shares of the technology company’s stock worth $161,000 after purchasing an additional 100 shares during the period. Finally, Tortoise Investment Management LLC grew its stake in shares of Dell Technologies by 23.0% in the 4th quarter. Tortoise Investment Management LLC now owns 535 shares of the technology company’s stock valued at $62,000 after buying an additional 100 shares during the period. 76.37% of the stock is currently owned by institutional investors and hedge funds.

Dell Technologies Company Profile

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).