Dell Technologies (NYSE:DELL) Shares Down 1.7% - What's Next?

Key Points

• Dell Technologies' shares fell by 1.7% during mid-day trading, closing at $151.07 after trading as low as $149.67, with a volume decline of 5% from the average daily trading volume.
• Recent analyst upgrades have seen price targets for Dell's stock rise significantly, with UBS increasing its target from $155 to $186 and a consensus rating of "Moderate Buy" established by analysts.
• The company announced a quarterly dividend of $0.525 per share, set to be paid on October 31st, representing a 1.4% dividend yield.

Shares of Dell Technologies Inc. (NYSE:DELL - Get Free Report) dropped 1.7% during mid-day trading on Thursday . The stock traded as low as $149.67 and last traded at $151.07. Approximately 6,926,765 shares traded hands during trading, a decline of 5% from the average daily volume of 7,290,141 shares. The stock had previously closed at $153.70.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group boosted their price objective on shares of Dell Technologies from $155.00 to $186.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Barclays boosted their price objective on shares of Dell Technologies from $133.00 to $151.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 8th. Susquehanna boosted their price objective on shares of Dell Technologies from $120.00 to $130.00 and gave the stock a "neutral" rating in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Dell Technologies from a "hold" rating to a "buy" rating in a report on Saturday, September 13th. Finally, Zacks Research upgraded shares of Dell Technologies from a "hold" rating to a "strong-buy" rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Dell Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $160.79.

Dell Technologies Trading Down 1.7%

The firm has a market capitalization of $101.57 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 1.02 and a beta of 1.05. The business's 50 day simple moving average is $135.32 and its two-hundred day simple moving average is $118.00.

Dell Technologies (NYSE:DELL - Get Free Report) last announced its earnings results on Thursday, October 5th. The technology company reported $1.68 earnings per share for the quarter. The business had revenue of $26.43 billion during the quarter. Dell Technologies had a net margin of 4.73% and a negative return on equity of 236.21%. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. As a group, equities research analysts anticipate that Dell Technologies Inc. will post 6.93 earnings per share for the current year.

Dell Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, October 21st will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Tuesday, October 21st. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.4%. Dell Technologies's payout ratio is presently 30.88%.

Insider Activity

In other news, Director William D. Green sold 42,736 shares of the business's stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $160.00, for a total transaction of $6,837,760.00. Following the completion of the sale, the director owned 47,619 shares of the company's stock, valued at $7,619,040. The trade was a 47.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director V (Gp) L.L.C. Slta sold 19,256 shares of the company's stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $154.21, for a total transaction of $2,969,467.76. The disclosure for this sale can be found here. Insiders sold a total of 4,551,332 shares of company stock valued at $643,036,628 in the last 90 days. Company insiders own 42.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of DELL. Brighton Jones LLC boosted its holdings in Dell Technologies by 42.7% in the 4th quarter. Brighton Jones LLC now owns 3,011 shares of the technology company's stock worth $347,000 after buying an additional 901 shares during the period. GAMMA Investing LLC boosted its holdings in Dell Technologies by 94.8% in the 1st quarter. GAMMA Investing LLC now owns 5,914 shares of the technology company's stock worth $539,000 after buying an additional 2,878 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Dell Technologies by 9.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 59,429 shares of the technology company's stock worth $5,417,000 after buying an additional 4,977 shares during the period. Exchange Traded Concepts LLC boosted its holdings in Dell Technologies by 25.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 2,460 shares of the technology company's stock worth $224,000 after buying an additional 506 shares during the period. Finally, Mission Wealth Management LP lifted its stake in Dell Technologies by 62.4% in the 1st quarter. Mission Wealth Management LP now owns 3,037 shares of the technology company's stock worth $277,000 after purchasing an additional 1,167 shares in the last quarter. Institutional investors own 76.37% of the company's stock.

Dell Technologies Company Profile

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).

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