Dell Technologies (NYSE:DELL) Shares Down 3% - Time to Sell?

Key Points

• Dell Technologies' stock fell 3% to $148.77 amidst trading, with analysts warning whether it may be time to sell shares.
• Analyst upgrades for Dell were noted, with JPMorgan raising its price target from $145 to $165 and a consensus rating of "Moderate Buy" from analysts.
• The company declared a quarterly dividend of $0.525 per share, payable on October 31st, with an annualized yield of 1.4%.

Dell Technologies Inc. (NYSE:DELL - Get Free Report)'s share price was down 3% during mid-day trading on Tuesday . The stock traded as low as $148.10 and last traded at $148.77. Approximately 7,071,185 shares traded hands during trading, a decline of 3% from the average daily volume of 7,299,443 shares. The stock had previously closed at $153.40.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on DELL. JPMorgan Chase & Co. raised their price target on Dell Technologies from $145.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, October 8th. Cowen reiterated a "hold" rating on shares of Dell Technologies in a research note on Friday, August 29th. KeyCorp assumed coverage on shares of Dell Technologies in a research report on Thursday, June 26th. They issued a "sector weight" rating on the stock. Wall Street Zen upgraded shares of Dell Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. Finally, Barclays lifted their target price on shares of Dell Technologies from $133.00 to $151.00 and gave the company an "equal weight" rating in a report on Wednesday, October 8th. Seventeen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $160.79.

Dell Technologies Stock Performance

The company has a market capitalization of $100.03 billion, a PE ratio of 21.88, a price-to-earnings-growth ratio of 1.03 and a beta of 1.05. The firm's 50-day simple moving average is $134.44 and its 200 day simple moving average is $117.53.

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

Dell Technologies Announces Dividend

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

Insider Transactions at Dell Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 499,999 shares of the business's stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $161.48, for a total value of $80,739,838.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director V (Gp) L.L.C. Slta sold 19,256 shares of the business's stock in a transaction dated 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 have sold 4,561,318 shares of company stock valued at $644,276,880 in the last quarter. 42.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Dell Technologies

Several institutional investors and hedge funds have recently modified their holdings of the business. Shikiar Asset Management Inc. purchased a new stake in shares of Dell Technologies in the third quarter valued at about $5,417,000. Trust Co. of Vermont lifted its stake in Dell Technologies by 515.5% in the 3rd quarter. Trust Co. of Vermont now owns 437 shares of the technology company's stock valued at $62,000 after buying an additional 366 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Dell Technologies by 7.2% in the third quarter. Farther Finance Advisors LLC now owns 46,282 shares of the technology company's stock valued at $6,561,000 after acquiring an additional 3,128 shares in the last quarter. Parcion Private Wealth LLC lifted its position in shares of Dell Technologies by 2.7% in the third quarter. Parcion Private Wealth LLC now owns 3,680 shares of the technology company's stock valued at $522,000 after acquiring an additional 97 shares in the last quarter. Finally, Patton Fund Management Inc. purchased a new stake in shares of Dell Technologies in the third quarter valued at $269,000. Hedge funds and other 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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