Dell Technologies (NYSE:DELL) Stock Price Down 2.6% - Here's Why

Dell Technologies Inc. (NYSE:DELL - Get Free Report)'s share price dropped 2.6% on Tuesday . The stock traded as low as $123.18 and last traded at $125.16. Approximately 1,715,045 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 8,477,156 shares. The stock had previously closed at $128.44.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on DELL shares. Citigroup raised their price target on shares of Dell Technologies from $128.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Mizuho boosted their price target on shares of Dell Technologies from $140.00 to $145.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Raymond James Financial boosted their price objective on Dell Technologies from $144.00 to $150.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Wall Street Zen cut Dell Technologies from a "buy" rating to a "hold" rating in a research note on Monday, July 14th. Finally, JPMorgan Chase & Co. upped their price target on Dell Technologies from $125.00 to $145.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $140.06.

Dell Technologies Stock Performance

The company's fifty day simple moving average is $118.49 and its two-hundred day simple moving average is $106.19. The stock has a market capitalization of $87.05 billion, a P/E ratio of 20.45, a PEG ratio of 1.01 and a beta of 1.02.

Dell Technologies (NYSE:DELL - Get Free Report) last announced its earnings results on Thursday, May 29th. The technology company reported $1.55 earnings per share for the quarter, missing analysts' consensus estimates of $1.68 by ($0.13). The firm had revenue of $23.38 billion for the quarter, compared to the consensus estimate of $23.17 billion. Dell Technologies had a negative return on equity of 226.48% and a net margin of 4.63%. Dell Technologies's quarterly revenue was up 5.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.27 EPS. On average, research analysts predict that Dell Technologies Inc. will post 6.93 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, August 1st. Investors of record on Tuesday, July 22nd will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Tuesday, July 22nd. Dell Technologies's payout ratio is 33.49%.

Insider Transactions at Dell Technologies

In related news, CEO Michael S. Dell sold 10,000,000 shares of the company's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $122.27, for a total value of $1,222,700,000.00. Following the completion of the sale, the chief executive officer directly owned 25,912,241 shares of the company's stock, valued at $3,168,289,707.07. This represents a 27.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director V (Gp) L.L.C. Slta sold 527,187 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $112.83, for a total value of $59,482,509.21. Following the completion of the transaction, the director owned 938,741 shares in the company, valued at $105,918,147.03. The trade was a 35.96% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,917,063 shares of company stock valued at $1,573,509,812. 42.00% of the stock is owned by corporate insiders.

Institutional Trading of Dell Technologies

Several large investors have recently bought and sold shares of the company. US Bancorp DE grew its position in shares of Dell Technologies by 9.0% in the 2nd quarter. US Bancorp DE now owns 36,531 shares of the technology company's stock worth $4,479,000 after acquiring an additional 3,015 shares in the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Dell Technologies by 21.6% during the 2nd quarter. Maryland State Retirement & Pension System now owns 15,454 shares of the technology company's stock worth $1,895,000 after purchasing an additional 2,747 shares during the last quarter. Optas LLC acquired a new position in Dell Technologies in the 2nd quarter valued at approximately $477,000. Guild Investment Management Inc. raised its holdings in Dell Technologies by 49.4% in the 2nd quarter. Guild Investment Management Inc. now owns 43,299 shares of the technology company's stock valued at $5,308,000 after acquiring an additional 14,324 shares in the last quarter. Finally, Citizens National Bank Trust Department grew its stake in shares of Dell Technologies by 1.1% in the 2nd quarter. Citizens National Bank Trust Department now owns 22,119 shares of the technology company's stock valued at $2,712,000 after purchasing an additional 237 shares during the period. 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).