Dell Technologies (NYSE:DELL) Shares Up 3.3% - Still a Buy?

Key Points

• Dell Technologies' shares increased by 3.3% to a last trading price of $153.69, with over 5.7 million shares changing hands during mid-day trading.
• Analysts are optimistic about Dell, with several upgrades in price targets, raising the average target price to $160.79 and providing a consensus rating of "Moderate Buy."
• The company recently declared a quarterly dividend of $0.525, representing a 1.4% yield, and insiders have sold significant shares, totaling approximately $643.8 million in the last three months.

Shares of Dell Technologies Inc. (NYSE:DELL - Get Free Report) shot up 3.3% on Wednesday . The stock traded as high as $155.78 and last traded at $153.69. 5,790,760 shares were traded during mid-day trading, a decline of 21% from the average session volume of 7,291,880 shares. The stock had previously closed at $148.77.

Wall Street Analyst Weigh In

DELL has been the subject of a number of research analyst reports. Daiwa Capital Markets upped their price objective on shares of Dell Technologies from $125.00 to $140.00 and gave the company an "outperform" rating in a research note on Thursday, September 11th. Bank of America upped their price objective on shares of Dell Technologies from $167.00 to $170.00 and gave the company a "buy" rating in a research note on Wednesday, October 1st. TD Cowen upped their price objective on shares of Dell Technologies from $130.00 to $150.00 and gave the company a "hold" rating in a research note on Wednesday, October 8th. Mizuho upped their price objective on shares of Dell Technologies from $160.00 to $170.00 and gave the company an "outperform" rating in a research note on Wednesday, October 8th. Finally, Zacks Research raised shares of Dell Technologies from a "hold" rating to a "strong-buy" rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $160.79.

Dell Technologies Stock Performance

The firm has a market cap of $103.34 billion, a PE ratio of 22.60, a PEG ratio of 1.05 and a beta of 1.05. The stock has a fifty day moving average price of $134.81 and a 200-day moving average price of $117.75.

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

Dell Technologies Announces Dividend

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

Insider Buying and Selling

In other Dell Technologies news, Director V (Gp) L.L.C. Slta sold 565,000 shares of the company's 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of the company's stock in a transaction that occurred on Monday, September 22nd. The stock was 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. In the last 90 days, insiders sold 4,557,418 shares of company stock valued at $643,788,249. 42.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dell Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of DELL. Armstrong Advisory Group Inc. increased its position in Dell Technologies by 3.6% in the third quarter. Armstrong Advisory Group Inc. now owns 1,829 shares of the technology company's stock worth $259,000 after buying an additional 63 shares during the period. Patriot Financial Group Insurance Agency LLC increased its position in Dell Technologies by 2.3% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 3,559 shares of the technology company's stock worth $504,000 after buying an additional 81 shares during the period. Asset Dedication LLC increased its position in Dell Technologies by 2.0% in the second quarter. Asset Dedication LLC now owns 4,318 shares of the technology company's stock worth $529,000 after buying an additional 84 shares during the period. RWA Wealth Partners LLC increased its position in Dell Technologies by 1.0% in the second quarter. RWA Wealth Partners LLC now owns 8,953 shares of the technology company's stock worth $1,098,000 after buying an additional 88 shares during the period. Finally, Summit Investment Advisors Inc. grew its stake in shares of Dell Technologies by 3.1% in the first quarter. Summit Investment Advisors Inc. now owns 3,004 shares of the technology company's stock worth $274,000 after purchasing an additional 90 shares in the last quarter. 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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.