Dell Technologies (NYSE:DELL) Trading 1.5% Higher – Here’s Why

Dell Technologies Inc. (NYSE:DELL) shares were up 1.5% during mid-day trading on Wednesday . The company traded as high as $96.34 and last traded at $95.47. Approximately 1,563,105 shares were traded during trading, a decline of 82% from the average daily volume of 8,758,779 shares. The stock had previously closed at $94.07.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DELL. TD Cowen dropped their target price on shares of Dell Technologies from $128.00 to $120.00 and set a “hold” rating for the company in a research report on Friday, February 28th. UBS Group decreased their target price on shares of Dell Technologies from $158.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Mizuho dropped their price objective on Dell Technologies from $155.00 to $150.00 and set an “outperform” rating for the company in a report on Wednesday, November 27th. Evercore ISI reissued an “outperform” rating and issued a $150.00 price target on shares of Dell Technologies in a research note on Wednesday, November 20th. Finally, OTR Global raised Dell Technologies from a “negative” rating to a “positive” rating in a research report on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $141.24.

Dell Technologies Price Performance

The stock’s 50-day moving average is $110.65 and its two-hundred day moving average is $117.86. The company has a market cap of $64.00 billion, a P/E ratio of 16.14, a P/E/G ratio of 1.10 and a beta of 0.83.

Dell Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Tuesday, April 22nd will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 2.30%. This is a boost from Dell Technologies’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, April 22nd. Dell Technologies’s dividend payout ratio (DPR) is presently 33.76%.

Insider Buying and Selling

In related news, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the business’s stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director V (Gp) L.L.C. Slta sold 325,167 shares of Dell Technologies 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 transaction, the director now directly owns 810,657 shares in the company, valued at $100,943,009.64. This represents a 28.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 825,662 shares of company stock valued at $100,414,453. 46.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Dell Technologies

Institutional investors and hedge funds have recently bought and sold shares of the business. Burns J W & Co. Inc. NY bought a new position in shares of Dell Technologies during the fourth quarter worth $1,272,000. iA Global Asset Management Inc. increased its position in shares of Dell Technologies by 84.7% during the 3rd quarter. iA Global Asset Management Inc. now owns 11,345 shares of the technology company’s stock valued at $1,345,000 after purchasing an additional 5,203 shares during the last quarter. Sky Investment Group LLC purchased a new stake in shares of Dell Technologies in the fourth quarter valued at $1,687,000. Enclave Advisors LLC purchased a new stake in Dell Technologies in the 4th quarter worth about $848,000. Finally, Empowered Funds LLC raised its holdings in shares of Dell Technologies by 12.9% in the fourth quarter. Empowered Funds LLC now owns 30,388 shares of the technology company’s stock worth $3,502,000 after buying an additional 3,470 shares during the period. 76.37% of the stock is 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).