Insider Selling: Dell Technologies Inc. (NYSE:DELL) CEO Sells $1,224,000,000.00 in Stock

Dell Technologies Inc. (NYSE:DELL) CEO Michael S. Dell sold 10,000,000 shares of Dell Technologies stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $122.40, for a total value of $1,224,000,000.00. Following the sale, the chief executive officer now directly owns 16,912,241 shares in the company, valued at $2,070,058,298.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Dell Technologies Trading Up 0.3 %

Shares of NYSE DELL opened at $113.45 on Thursday. The stock has a 50 day simple moving average of $109.86 and a 200-day simple moving average of $124.58. The company has a market cap of $80.47 billion, a PE ratio of 23.15, a P/E/G ratio of 1.25 and a beta of 0.90. Dell Technologies Inc. has a 12-month low of $63.90 and a 12-month high of $179.70.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings data on Thursday, August 29th. The technology company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The business had revenue of $25.03 billion during the quarter, compared to the consensus estimate of $24.14 billion. Dell Technologies had a negative return on equity of 178.09% and a net margin of 4.32%. The business’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.44 earnings per share. Sell-side analysts forecast that Dell Technologies Inc. will post 6.9 earnings per share for the current fiscal year.

Dell Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 22nd will be given a dividend of $0.445 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $1.78 annualized dividend and a dividend yield of 1.57%. Dell Technologies’s dividend payout ratio is presently 36.33%.

Institutional Investors Weigh In On Dell Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DELL. Jones Financial Companies Lllp bought a new stake in Dell Technologies during the fourth quarter worth approximately $25,000. Massmutual Trust Co. FSB ADV raised its holdings in Dell Technologies by 58.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 223 shares of the technology company’s stock worth $25,000 after purchasing an additional 82 shares in the last quarter. Accordant Advisory Group Inc bought a new stake in Dell Technologies during the second quarter worth approximately $28,000. New Covenant Trust Company N.A. bought a new stake in Dell Technologies during the first quarter worth approximately $30,000. Finally, Nemes Rush Group LLC bought a new stake in Dell Technologies during the second quarter worth approximately $33,000. Institutional investors own 38.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DELL shares. UBS Group dropped their target price on Dell Technologies from $164.00 to $158.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Barclays lifted their price target on Dell Technologies from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Friday, August 30th. Bank of America lifted their price target on Dell Technologies from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. lifted their price target on Dell Technologies from $155.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Finally, Citigroup lifted their price target on Dell Technologies from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $143.50.

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).