Dell Technologies (NYSE:DELL) Stock Price Up 8.1% - Time to Buy?

Shares of Dell Technologies Inc. (NYSE:DELL - Get Free Report) rose 8.1% on Wednesday . The stock traded as high as $91.89 and last traded at $90.88. Approximately 3,423,588 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 10,358,223 shares. The stock had previously closed at $84.08.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Wells Fargo & Company cut their target price on shares of Dell Technologies from $160.00 to $150.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. OTR Global raised shares of Dell Technologies from a "negative" rating to a "positive" rating in a research note on Wednesday, February 12th. Bank of America dropped their target price on Dell Technologies from $155.00 to $150.00 and set a "buy" rating on the stock in a research report on Tuesday, February 18th. Citigroup decreased their price objective on Dell Technologies from $145.00 to $105.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Morgan Stanley cut their target price on Dell Technologies from $154.00 to $128.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Dell Technologies has an average rating of "Moderate Buy" and a consensus price target of $136.41.

Dell Technologies Trading Up 0.6 %

The business's 50-day simple moving average is $93.29 and its 200-day simple moving average is $111.17. The company has a market capitalization of $66.30 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 1.10 and a beta of 0.94.

Dell Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Tuesday, April 22nd will be issued a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Tuesday, April 22nd. This is a boost from Dell Technologies's previous quarterly dividend of $0.45. Dell Technologies's dividend payout ratio (DPR) is 33.76%.

Insider Buying and Selling at Dell Technologies

In other Dell Technologies news, CAO Brunilda Rios sold 926 shares of the company's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $93.29, for a total value of $86,386.54. Following the completion of the transaction, the chief accounting officer now owns 37,948 shares in the company, valued at approximately $3,540,168.92. This represents a 2.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 46.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dell Technologies

Several institutional investors and hedge funds have recently modified their holdings of DELL. Optimist Retirement Group LLC lifted its position in shares of Dell Technologies by 27.3% during the 3rd quarter. Optimist Retirement Group LLC now owns 2,157 shares of the technology company's stock valued at $256,000 after buying an additional 463 shares in the last quarter. Virtu Financial LLC purchased a new position in Dell Technologies during the third quarter valued at $894,000. Morse Asset Management Inc grew its position in shares of Dell Technologies by 180.1% in the third quarter. Morse Asset Management Inc now owns 21,223 shares of the technology company's stock valued at $2,516,000 after purchasing an additional 13,646 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Dell Technologies during the third quarter worth about $198,000. Finally, Tidal Investments LLC raised its position in shares of Dell Technologies by 49.0% during the 3rd quarter. Tidal Investments LLC now owns 147,383 shares of the technology company's stock worth $17,471,000 after purchasing an additional 48,436 shares during 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).