Dell Technologies (NYSE:DELL) Shares Up 1% – Here’s Why

Shares of Dell Technologies Inc. (NYSE:DELL) rose 1% during mid-day trading on Thursday . The company traded as high as $105.55 and last traded at $104.17. Approximately 2,078,468 shares traded hands during trading, a decline of 75% from the average daily volume of 8,177,444 shares. The stock had previously closed at $103.10.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on DELL. Melius Research boosted their price target on Dell Technologies from $140.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Evercore ISI restated an “outperform” rating and issued a $150.00 target price on shares of Dell Technologies in a research note on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Dell Technologies from $144.00 to $142.00 and set a “buy” rating for the company in a research note on Monday, December 2nd. Citigroup cut their price objective on shares of Dell Technologies from $160.00 to $156.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, Morgan Stanley lifted their price target on shares of Dell Technologies from $136.00 to $154.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Dell Technologies has an average rating of “Moderate Buy” and an average price target of $148.06.

Dell Technologies Stock Performance

The company’s fifty day simple moving average is $117.34 and its two-hundred day simple moving average is $118.08. The stock has a market capitalization of $72.74 billion, a P/E ratio of 18.35, a PEG ratio of 1.09 and a beta of 0.92.

Dell Technologies (NYSE:DELL) last announced its earnings results on Tuesday, November 26th. The technology company reported $2.15 earnings per share 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 analyst estimates of $24.67 billion. During the same quarter last year, the company earned $1.62 earnings per share. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, research analysts predict that Dell Technologies Inc. will post 6.92 earnings per share for the current fiscal year.

Dell Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 22nd were issued a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Wednesday, January 22nd. Dell Technologies’s dividend payout ratio is currently 31.45%.

Insider Transactions at Dell Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of Dell Technologies stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $119.73, for a total value of $59,750,657.85. Following the transaction, the director now directly owns 810,657 shares of the company’s stock, valued at $97,059,962.61. This trade represents a 38.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Radakovich Lynn Vojvodich sold 725 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $132.28, for a total value of $95,903.00. Following the transaction, the director now directly owns 23,680 shares of the company’s stock, valued at $3,132,390.40. This trade represents a 2.97 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 946,132 shares of company stock valued at $115,660,009. 46.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dell Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in shares of Dell Technologies by 92.4% during the third quarter. State Street Corp now owns 12,767,011 shares of the technology company’s stock worth $1,513,401,000 after buying an additional 6,131,507 shares in the last quarter. Geode Capital Management LLC increased its holdings in Dell Technologies by 71.8% in the 3rd quarter. Geode Capital Management LLC now owns 6,317,829 shares of the technology company’s stock worth $746,596,000 after purchasing an additional 2,641,456 shares in the last quarter. International Assets Investment Management LLC raised its position in Dell Technologies by 19,376.1% in the third quarter. International Assets Investment Management LLC now owns 2,427,699 shares of the technology company’s stock valued at $287,779,000 after purchasing an additional 2,415,234 shares during the last quarter. Swedbank AB boosted its stake in shares of Dell Technologies by 803.6% during the fourth quarter. Swedbank AB now owns 1,901,112 shares of the technology company’s stock valued at $219,084,000 after purchasing an additional 1,690,709 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Dell Technologies by 5,047.4% during the third quarter. Franklin Resources Inc. now owns 1,021,971 shares of the technology company’s stock worth $131,170,000 after purchasing an additional 1,002,117 shares during the last quarter. 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).