Dell Technologies (NYSE:DELL) Trading 2.7% Higher - Here's Why

Dell Technologies Inc. (NYSE:DELL - Get Free Report)'s stock price rose 2.7% during trading on Tuesday . The stock traded as high as $121.31 and last traded at $121.24. Approximately 1,409,587 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 8,914,102 shares. The stock had previously closed at $118.02.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. TD Cowen lifted their price objective on Dell Technologies from $120.00 to $125.00 and gave the stock a "hold" rating in a research report on Friday, May 30th. Wells Fargo & Company cut their target price on Dell Technologies from $160.00 to $150.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. Barclays lifted their price target on Dell Technologies from $116.00 to $123.00 and gave the stock an "equal weight" rating in a report on Friday, May 30th. Evercore ISI reissued an "outperform" rating on shares of Dell Technologies in a report on Thursday, May 29th. Finally, Morgan Stanley lifted their target price on shares of Dell Technologies from $89.00 to $126.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 21st. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $138.00.

Dell Technologies Stock Performance

The business has a 50-day simple moving average of $106.72 and a 200-day simple moving average of $105.10. The company has a market cap of $84.26 billion, a price-to-earnings ratio of 19.80, a price-to-earnings-growth ratio of 1.11 and a beta of 1.01.

Dell Technologies (NYSE:DELL - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The technology company reported $1.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.68 by ($0.13). The firm had revenue of $23.38 billion for the quarter, compared to analysts' expectations 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 revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the firm posted $1.27 earnings per share. Research analysts anticipate that Dell Technologies Inc. will post 6.93 EPS for the current year.

Dell Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 22nd will be given a $0.525 dividend. The ex-dividend date is Tuesday, July 22nd. This represents a $2.10 dividend on an annualized basis and a yield of 1.69%. Dell Technologies's dividend payout ratio (DPR) is presently 33.49%.

Insiders Place Their Bets

In other news, Director Lake Group L.L.C. Silver sold 10,681 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $120.33, for a total transaction of $1,285,244.73. Following the transaction, the director now directly owns 938,741 shares in the company, valued at approximately $112,958,704.53. This trade represents a 1.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Yvonne Mcgill sold 8,000 shares of Dell Technologies stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $110.80, for a total transaction of $886,400.00. Following the completion of the transaction, the chief financial officer now directly owns 245,804 shares in the company, valued at $27,235,083.20. The trade was a 3.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,482,977 shares of company stock valued at $168,988,489. 42.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brighton Jones LLC grew its holdings in shares of Dell Technologies by 42.7% during the fourth 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 last quarter. IFP Advisors Inc lifted its holdings in shares of Dell Technologies by 31.9% during the fourth quarter. IFP Advisors Inc now owns 4,654 shares of the technology company's stock worth $537,000 after purchasing an additional 1,125 shares during the period. Bank of New York Mellon Corp grew its position in Dell Technologies by 63.6% in the 4th quarter. Bank of New York Mellon Corp now owns 2,931,240 shares of the technology company's stock valued at $337,796,000 after buying an additional 1,139,318 shares during the last quarter. Amalgamated Bank increased its stake in Dell Technologies by 2.6% in the 4th quarter. Amalgamated Bank now owns 57,678 shares of the technology company's stock valued at $6,647,000 after buying an additional 1,467 shares during the period. Finally, Los Angeles Capital Management LLC raised its position in Dell Technologies by 204.8% during the 4th quarter. Los Angeles Capital Management LLC now owns 9,860 shares of the technology company's stock worth $1,136,000 after buying an additional 6,625 shares during the last quarter. 76.37% of the stock is owned by hedge funds and other institutional investors.

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).