Dell Technologies (NYSE:DELL) Shares Down 0.6% – Here’s What Happened

Shares of Dell Technologies Inc. (NYSE:DELL) were down 0.6% during mid-day trading on Wednesday . The stock traded as low as $97.80 and last traded at $98.25. Approximately 1,667,809 shares were traded during trading, a decline of 83% from the average daily volume of 10,022,227 shares. The stock had previously closed at $98.86.

Analysts Set New Price Targets

Several research firms have commented on DELL. Bank of America cut their price target on Dell Technologies from $155.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. Citigroup cut their price objective on shares of Dell Technologies from $156.00 to $145.00 and set a “buy” rating for the company in a research report on Friday, February 21st. TD Cowen cut their price objective on Dell Technologies from $128.00 to $120.00 and set a “hold” rating for the company in a research report on Friday, February 28th. JPMorgan Chase & Co. reduced their price objective on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Finally, Morgan Stanley cut their price target on Dell Technologies from $154.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Dell Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $141.24.

Dell Technologies Stock Down 2.2 %

The company has a market capitalization of $67.71 billion, a price-to-earnings ratio of 17.13, a price-to-earnings-growth ratio of 1.10 and a beta of 0.83. The company has a 50 day simple moving average of $105.17 and a 200 day simple moving average of $116.59.

Dell Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Tuesday, April 22nd. This is a boost from Dell Technologies’s previous quarterly dividend of $0.45. Dell Technologies’s payout ratio is currently 33.76%.

Insiders Place Their Bets

In other Dell Technologies news, Director Radakovich Lynn Vojvodich sold 725 shares of the business’s stock in a transaction 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 owns 23,680 shares in the company, valued at $2,841,600. The trade was a 2.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director V (Gp) L.L.C. Slta sold 325,167 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $124.52, for a total value of $40,489,794.84. Following the sale, the director now owns 810,657 shares of the company’s stock, valued at $100,943,009.64. This represents a 28.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 824,937 shares of company stock worth $100,327,453 in the last 90 days. 46.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dell Technologies

A number of institutional investors have recently made changes to their positions in the business. Bellwether Advisors LLC bought a new stake in shares of Dell Technologies in the fourth quarter worth $25,000. Vision Financial Markets LLC acquired a new position in Dell Technologies during the 4th quarter worth $26,000. Lee Danner & Bass Inc. bought a new stake in shares of Dell Technologies in the 4th quarter worth about $26,000. Byrne Asset Management LLC acquired a new stake in shares of Dell Technologies in the 4th quarter valued at about $28,000. Finally, True Wealth Design LLC lifted its position in shares of Dell Technologies by 2,530.0% during the third quarter. True Wealth Design LLC now owns 263 shares of the technology company’s stock worth $31,000 after purchasing an additional 253 shares during the last quarter. 76.37% of the stock is owned by institutional investors and hedge funds.

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).