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

Key Points

• Dell Technologies stock rose by 2.7% to $154.22 amid notable trading activity, although volume decreased by 20% from its average daily volume.
• The tech company recently announced a quarterly dividend of $0.525, representing an annual yield of 1.4%, with shares trading ex-dividend on October 21st.
• Several analysts upgraded their ratings and target prices for Dell Technologies, with target increases ranging from $133.00 to $200.00, reflecting strong market sentiment.

Dell Technologies Inc. (NYSE:DELL - Get Free Report) rose 2.7% during trading on Thursday . The company traded as high as $155.34 and last traded at $154.22. Approximately 5,797,166 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 7,247,071 shares. The stock had previously closed at $150.13.

Wall Street Analyst Weigh In

DELL has been the topic of a number of recent research reports. Barclays increased their target price on Dell Technologies from $133.00 to $151.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 8th. Mizuho increased their target price on Dell Technologies from $160.00 to $170.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 8th. Bank of America increased their target price on Dell Technologies from $167.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, October 1st. Morgan Stanley increased their target price on Dell Technologies from $135.00 to $144.00 and gave the stock an "overweight" rating in a research note on Thursday, August 21st. Finally, Argus increased their target price on Dell Technologies from $150.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Dell Technologies presently has an average rating of "Moderate Buy" and an average price target of $161.80.

Dell Technologies Stock Up 2.7%

The stock has a market capitalization of $103.69 billion, a P/E ratio of 22.68, a P/E/G ratio of 1.02 and a beta of 1.05. The business has a fifty day moving average price of $136.46 and a 200-day moving average price of $120.21.

Dell Technologies (NYSE:DELL - Get Free Report) last announced its quarterly 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 firm had revenue of $26.43 billion for the quarter. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. On average, equities analysts expect that Dell Technologies Inc. will post 6.93 earnings per share for the current fiscal year.

Dell Technologies Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, October 21st. This represents a $2.10 dividend on an annualized basis and a yield of 1.4%. Dell Technologies's dividend payout ratio is currently 30.88%.

Insider Transactions at Dell Technologies

In other Dell Technologies news, Director V (Gp) L.L.C. Slta sold 565,000 shares of the stock in a transaction dated 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 accessible through this link. Also, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of the stock in a transaction dated 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. In the last three months, insiders sold 4,617,755 shares of company stock worth $653,694,973. 42.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. First Hawaiian Bank raised its stake in shares of Dell Technologies by 67.1% in the first quarter. First Hawaiian Bank now owns 34,878 shares of the technology company's stock worth $3,179,000 after buying an additional 14,010 shares during the period. Carolina Wealth Advisors LLC bought a new position in shares of Dell Technologies in the second quarter worth about $8,869,000. Mather Group LLC. raised its stake in shares of Dell Technologies by 113.3% in the first quarter. Mather Group LLC. now owns 1,043 shares of the technology company's stock worth $95,000 after buying an additional 554 shares during the period. Westbourne Investments Inc. raised its stake in shares of Dell Technologies by 167.5% in the first quarter. Westbourne Investments Inc. now owns 21,808 shares of the technology company's stock worth $1,988,000 after buying an additional 13,657 shares during the period. Finally, Magnolia Capital Management Ltd. bought a new position in shares of Dell Technologies in the second quarter worth about $223,000. Institutional investors own 76.37% of the company's stock.

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).

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