Dell Technologies (NYSE:DELL) Trading 3.1% Higher – Here’s What Happened

Dell Technologies Inc. (NYSE:DELL)’s share price rose 3.1% on Wednesday . The stock traded as high as $99.84 and last traded at $99.45. Approximately 1,307,389 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 10,070,535 shares. The stock had previously closed at $96.44.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wells Fargo & Company lowered their target price on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. TD Cowen reduced their target price on Dell Technologies from $128.00 to $120.00 and set a “hold” rating on the stock in a report on Friday, February 28th. Morgan Stanley lowered their price target on shares of Dell Technologies from $154.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. UBS Group decreased their price objective on shares of Dell Technologies from $158.00 to $150.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Finally, OTR Global upgraded shares of Dell Technologies from a “negative” rating to a “positive” rating in a report on Wednesday, February 12th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $141.24.

Dell Technologies Trading Down 1.2 %

The firm has a market cap of $68.48 billion, a P/E ratio of 17.27, a PEG ratio of 1.10 and a beta of 0.83. The company’s 50-day moving average is $105.93 and its two-hundred day moving average is $116.69.

Dell Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Tuesday, April 22nd will be given a dividend of $0.525 per share. This is a boost from Dell Technologies’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, April 22nd. This represents a $2.10 annualized dividend and a dividend yield of 2.15%. Dell Technologies’s payout ratio is presently 33.76%.

Insider Activity at Dell Technologies

In other news, Director Radakovich Lynn Vojvodich sold 725 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $120.00, for a total value of $87,000.00. Following the completion of the transaction, the director now directly owns 23,680 shares of the company’s stock, valued at $2,841,600. This represents a 2.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director V (Gp) L.L.C. Slta sold 325,167 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $124.52, for a total value of $40,489,794.84. Following the completion of the transaction, the director now directly owns 810,657 shares in the company, valued at approximately $100,943,009.64. This represents a 28.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 824,937 shares of company stock valued at $100,327,453. 46.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Dell Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in DELL. Chancellor Financial Group WB LP bought a new position in shares of Dell Technologies during the 4th quarter valued at approximately $313,000. California State Teachers Retirement System increased its position in Dell Technologies by 9.5% in the fourth quarter. California State Teachers Retirement System now owns 505,496 shares of the technology company’s stock worth $58,253,000 after buying an additional 43,715 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of Dell Technologies during the 4th quarter valued at $32,599,000. Centaurus Financial Inc. increased its holdings in Dell Technologies by 25.2% in the 4th quarter. Centaurus Financial Inc. now owns 7,695 shares of the technology company’s stock worth $887,000 after acquiring an additional 1,547 shares during the last quarter. Finally, Capstone Triton Financial Group LLC lifted its holdings in Dell Technologies by 26.1% during the fourth quarter. Capstone Triton Financial Group LLC now owns 7,061 shares of the technology company’s stock valued at $814,000 after purchasing an additional 1,463 shares during the last quarter. 76.37% of the stock is owned by hedge funds and other 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).