Dell Technologies Inc. (NYSE:DELL – Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $121.63, but opened at $130.99. Dell Technologies shares last traded at $126.01, with a volume of 2,931,185 shares trading hands.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on the company. Raymond James decreased their price objective on Dell Technologies from $166.00 to $160.00 and set an “outperform” rating on the stock in a report on Friday, August 30th. Morgan Stanley decreased their price target on Dell Technologies from $142.00 to $136.00 and set an “overweight” rating on the stock in a research note on Thursday, August 29th. Deutsche Bank Aktiengesellschaft began coverage on shares of Dell Technologies in a report on Friday, September 27th. They set a “buy” rating and a $144.00 price objective on the stock. Citigroup boosted their target price on shares of Dell Technologies from $155.00 to $160.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, TD Cowen cut their price target on shares of Dell Technologies from $155.00 to $128.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Dell Technologies has a consensus rating of “Moderate Buy” and a consensus target price of $143.50.
Dell Technologies Stock Up 6.4 %
The firm has a market cap of $91.79 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 1.27 and a beta of 0.90. The business has a 50 day moving average price of $117.13 and a 200-day moving average price of $125.30.
Dell Technologies (NYSE:DELL – Get Free Report) last posted its quarterly earnings data on Thursday, August 29th. The technology company reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Dell Technologies had a net margin of 4.32% and a negative return on equity of 178.09%. The company had revenue of $25.03 billion for the quarter, compared to analyst estimates of $24.14 billion. During the same quarter last year, the firm posted $1.44 earnings per share. The business’s quarterly revenue was up 9.1% on a year-over-year basis. Research analysts anticipate that Dell Technologies Inc. will post 6.91 earnings per share for the current fiscal year.
Dell Technologies Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 22nd will be issued a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Tuesday, October 22nd. Dell Technologies’s dividend payout ratio is currently 36.33%.
Insiders Place Their Bets
In other news, CEO Michael S. Dell sold 10,000,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $122.40, for a total transaction of $1,224,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 16,912,241 shares in the company, valued at approximately $2,070,058,298.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Michael S. Dell sold 10,000,000 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $122.40, for a total value of $1,224,000,000.00. Following the completion of the sale, the chief executive officer now owns 16,912,241 shares of the company’s stock, valued at approximately $2,070,058,298.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael S. Dell sold 221,460 shares of the stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.07, for a total transaction of $22,604,422.20. Following the transaction, the chief executive officer now directly owns 20,190,781 shares in the company, valued at $2,060,873,016.67. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,953,387 shares of company stock worth $2,113,353,236 in the last three months. 46.70% of the stock is owned by insiders.
Hedge Funds Weigh In On Dell Technologies
Several large investors have recently added to or reduced their stakes in DELL. Clean Yield Group acquired a new stake in shares of Dell Technologies during the third quarter worth $25,000. Accordant Advisory Group Inc bought a new position in Dell Technologies in the second quarter worth about $28,000. New Covenant Trust Company N.A. acquired a new position in Dell Technologies in the first quarter valued at approximately $30,000. Nemes Rush Group LLC bought a new position in shares of Dell Technologies during the second quarter valued at approximately $33,000. Finally, Crewe Advisors LLC bought a new stake in shares of Dell Technologies in the 2nd quarter worth approximately $34,000. 38.10% of the stock is currently owned by institutional investors.
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).