Dell Technologies (NYSE:DELL) Shares Down 2.1% – Here’s Why

Dell Technologies Inc. (NYSE:DELL) traded down 2.1% during mid-day trading on Thursday . The stock traded as low as $116.77 and last traded at $118.43. 1,936,068 shares were traded during mid-day trading, a decline of 77% from the average session volume of 8,257,994 shares. The stock had previously closed at $120.96.

Analysts Set New Price Targets

DELL has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Dell Technologies from $144.00 to $142.00 and set a “buy” rating for the company in a research report on Monday, December 2nd. Barclays raised their price objective on Dell Technologies from $106.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Mizuho lowered their price objective on Dell Technologies from $155.00 to $150.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 27th. Bank of America cut their target price on Dell Technologies from $155.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Evercore ISI reiterated an “outperform” rating and set a $150.00 price target on shares of Dell Technologies in a research note on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.65.

Dell Technologies Stock Performance

The company has a market capitalization of $83.66 billion, a price-to-earnings ratio of 21.10, a price-to-earnings-growth ratio of 1.08 and a beta of 0.90. The company has a 50-day moving average price of $113.11 and a 200-day moving average price of $117.40.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings data on Tuesday, November 26th. The technology company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.32. The firm had revenue of $24.37 billion during the quarter, compared to analysts’ expectations of $24.67 billion. Dell Technologies had a net margin of 4.36% and a negative return on equity of 191.91%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.62 earnings per share. As a group, sell-side analysts anticipate that Dell Technologies Inc. will post 6.93 earnings per share for the current fiscal year.

Dell Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 22nd were issued a dividend of $0.445 per share. The ex-dividend date was Wednesday, January 22nd. This represents a $1.78 annualized dividend and a yield of 1.49%. Dell Technologies’s dividend payout ratio is presently 31.45%.

Insiders Place Their Bets

In related news, Director Radakovich Lynn Vojvodich sold 725 shares of the company’s stock in a transaction on Monday, December 16th. The shares were 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 approximately $2,841,600. This represents a 2.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of Dell Technologies stock in a transaction dated 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 completion of the sale, the director now directly owns 810,657 shares in the company, valued at $97,059,962.61. This represents a 38.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 945,407 shares of company stock worth $115,564,106 over the last ninety days. 46.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dell Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Dell Technologies by 10.5% during the 4th quarter. Vanguard Group Inc. now owns 27,960,560 shares of the technology company’s stock worth $3,222,175,000 after acquiring an additional 2,662,407 shares in the last quarter. State Street Corp grew its position in Dell Technologies by 92.4% in the third quarter. State Street Corp now owns 12,767,011 shares of the technology company’s stock valued at $1,513,401,000 after purchasing an additional 6,131,507 shares in the last quarter. Capital World Investors increased its stake in Dell Technologies by 0.6% in the 4th quarter. Capital World Investors now owns 12,460,949 shares of the technology company’s stock valued at $1,436,000,000 after buying an additional 72,271 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Dell Technologies by 8.7% during the 4th quarter. Geode Capital Management LLC now owns 6,870,042 shares of the technology company’s stock worth $789,680,000 after buying an additional 552,213 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Dell Technologies in the 4th quarter valued at about $455,029,000. Institutional investors and hedge funds 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).