Dell Technologies (NYSE:DELL) Shares Up 1.9% - Still a Buy?

Key Points

• Dell Technologies shares rose by 1.9%, closing at $153.42 after trading as high as $155.55, despite a 7% decline in average session volume.
• Analysts have upgraded Dell's price targets, with a consensus target of $160.79, indicating a Moderate Buy rating from the majority of analysts.
• The company recently announced a quarterly dividend of $0.525, resulting in an annual dividend yield of 1.4%, with a payout ratio of approximately 30.88%.

Dell Technologies Inc. (NYSE:DELL - Get Free Report)'s share price shot up 1.9% during trading on Monday . The company traded as high as $155.55 and last traded at $153.42. 6,782,884 shares changed hands during trading, a decline of 7% from the average session volume of 7,300,511 shares. The stock had previously closed at $150.57.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on DELL shares. Daiwa Capital Markets increased their price target on Dell Technologies from $125.00 to $140.00 and gave the company an "outperform" rating in a research report on Thursday, September 11th. Fox Advisors lowered Dell Technologies from an "overweight" rating to an "equal weight" rating in a research report on Friday, August 29th. KeyCorp began coverage on Dell Technologies in a research report on Thursday, June 26th. They issued a "sector weight" rating on the stock. Argus raised their target price on Dell Technologies from $150.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, JPMorgan Chase & Co. raised their target price on Dell Technologies from $145.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 8th. Seventeen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $160.79.

Dell Technologies Stock Up 1.9%

The company has a market cap of $103.16 billion, a price-to-earnings ratio of 22.56, a price-to-earnings-growth ratio of 1.03 and a beta of 1.05. The firm has a 50-day simple moving average of $133.98 and a 200 day simple moving average of $117.11.

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

Dell Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, October 21st will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, October 21st. Dell Technologies's dividend payout ratio (DPR) is 30.88%.

Insider Activity at Dell Technologies

In related news, Director V (Gp) L.L.C. Slta sold 565,000 shares of Dell Technologies stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $132.32, for a total value of $74,760,800.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of Dell Technologies stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $135.98, for a total value of $112,183,364.02. The disclosure for this sale can be found here. Insiders sold a total of 4,734,418 shares of company stock worth $666,089,211 over the last quarter. Company insiders own 42.00% of the company's stock.

Institutional Trading of Dell Technologies

A number of institutional investors have recently modified their holdings of DELL. Norges Bank purchased a new stake in Dell Technologies during the second quarter worth $528,279,000. Boston Partners boosted its position in Dell Technologies by 34.4% during the first quarter. Boston Partners now owns 5,132,877 shares of the technology company's stock worth $466,418,000 after purchasing an additional 1,312,600 shares in the last quarter. AQR Capital Management LLC boosted its position in Dell Technologies by 628.5% during the second quarter. AQR Capital Management LLC now owns 1,374,078 shares of the technology company's stock worth $168,462,000 after purchasing an additional 1,185,454 shares in the last quarter. Vanguard Group Inc. boosted its position in Dell Technologies by 4.1% during the first quarter. Vanguard Group Inc. now owns 29,106,218 shares of the technology company's stock worth $2,653,032,000 after purchasing an additional 1,145,658 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in Dell Technologies by 38.1% during the first quarter. Deutsche Bank AG now owns 4,141,618 shares of the technology company's stock worth $377,508,000 after purchasing an additional 1,142,012 shares in the last quarter. 76.37% of the stock is currently owned by hedge funds and other institutional investors.

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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