Dell Technologies (NYSE:DELL) Trading 1.1% Higher - Should You Buy?

Key Points

• Dell Technologies' stock price rose by 1.1% to $149.45, with a trading volume that was 29% lower than its average.
• Analysts have recently raised their price targets for Dell Technologies, with a consensus target of $161.26 and upgrades from "hold" to "strong-buy" ratings.
• The company announced a quarterly dividend of $0.525 per share, reflecting a yield of 1.4%, and will be paid on October 31st to shareholders on record as of October 21st.

Dell Technologies Inc. (NYSE:DELL - Get Free Report)'s stock price rose 1.1% during trading on Tuesday . The company traded as high as $151.30 and last traded at $149.45. Approximately 5,160,900 shares were traded during trading, a decline of 29% from the average daily volume of 7,258,864 shares. The stock had previously closed at $147.87.

Analysts Set New Price Targets

DELL has been the subject of a number of recent research reports. Evercore ISI boosted their price objective on shares of Dell Technologies from $150.00 to $160.00 and gave the company an "outperform" rating in a report on Friday, August 15th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Dell Technologies in a report on Wednesday, October 8th. Susquehanna increased their target price on Dell Technologies from $120.00 to $130.00 and gave the stock a "neutral" rating in a report on Wednesday, October 8th. Zacks Research upgraded Dell Technologies from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 13th. Finally, Citigroup upped their price objective on shares of Dell Technologies from $160.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $161.26.

Dell Technologies Price Performance

The stock has a market cap of $100.48 billion, a P/E ratio of 21.98, a PEG ratio of 1.02 and a beta of 1.05. The stock has a 50-day simple moving average of $136.10 and a 200-day simple moving average of $119.80.

Dell Technologies (NYSE:DELL - Get Free Report) last posted its quarterly earnings results on Thursday, October 5th. The technology company reported $1.68 earnings per share 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, sell-side analysts forecast that Dell Technologies Inc. will post 6.93 earnings per share for the current year.

Dell Technologies Announces Dividend

The firm 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 dividend of $0.525 per share. 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 (DPR) is presently 30.88%.

Insiders Place Their Bets

In other news, Director Iv (Gp) L.L.C. Slta sold 499,999 shares of Dell Technologies stock in a transaction on 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 Securities & Exchange Commission, which is available at this link. Also, Director William D. Green sold 42,736 shares of the firm's stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $160.00, for a total value of $6,837,760.00. Following the completion of the sale, the director owned 47,619 shares of the company's stock, valued at approximately $7,619,040. This represents a 47.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,617,755 shares of company stock valued at $653,694,973 in the last 90 days. Company insiders own 42.00% of the company's stock.

Institutional Trading of Dell Technologies

Large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Dell Technologies in the second quarter valued at approximately $528,279,000. Boston Partners raised its stake in shares of Dell Technologies by 34.4% in the first quarter. Boston Partners now owns 5,132,877 shares of the technology company's stock valued at $466,418,000 after buying an additional 1,312,600 shares during the period. AQR Capital Management LLC lifted its position in shares of Dell Technologies by 628.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,374,078 shares of the technology company's stock valued at $168,462,000 after buying an additional 1,185,454 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Dell Technologies by 4.1% during the 1st quarter. Vanguard Group Inc. now owns 29,106,218 shares of the technology company's stock worth $2,653,032,000 after acquiring an additional 1,145,658 shares during the period. Finally, Deutsche Bank AG increased its holdings in Dell Technologies by 38.1% in the 1st quarter. Deutsche Bank AG now owns 4,141,618 shares of the technology company's stock worth $377,508,000 after acquiring an additional 1,142,012 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).

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