Dell Technologies (NYSE:DELL) Trading Up 2.9% - What's Next?

Key Points

• Dell Technologies shares increased by 2.9%, latest trading at $158.67, with 5.07 million shares exchanged, marking a 30% decline in trading volume.
• Analysts upgraded Dell's price targets, with JPMorgan raising it to $165 and UBS to $186, contributing to an average rating of "Moderate Buy" and a consensus target price of $161.80.
• The company declared a quarterly dividend of $0.525, payable on October 31st, with a projected annualized yield of 1.3% and a payout ratio of 30.88%.

Dell Technologies Inc. (NYSE:DELL - Get Free Report) shares were up 2.9% during trading on Friday . The company traded as high as $159.94 and last traded at $158.67. Approximately 5,074,707 shares changed hands during trading, a decline of 30% from the average daily volume of 7,239,313 shares. The stock had previously closed at $154.23.

Analyst Upgrades and Downgrades

A number of analysts have commented on DELL shares. JPMorgan Chase & Co. boosted their price objective on Dell Technologies from $145.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, October 8th. Sanford C. Bernstein boosted their price objective on Dell Technologies from $175.00 to $180.00 and gave the stock an "outperform" rating in a report on Wednesday, October 8th. UBS Group boosted their price objective on Dell Technologies from $155.00 to $186.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Citigroup boosted their price objective on Dell Technologies from $160.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, October 8th. Finally, Evercore ISI boosted their price objective on Dell Technologies from $150.00 to $160.00 and gave the stock an "outperform" rating in a report on Friday, August 15th. One investment 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 company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $161.80.

Dell Technologies Stock Up 2.9%

The firm has a 50 day moving average of $136.77 and a 200 day moving average of $120.76. The firm has a market cap of $106.68 billion, a PE ratio of 23.33, a P/E/G ratio of 1.02 and a beta of 1.05.

Dell Technologies (NYSE:DELL - Get Free Report) last posted its quarterly earnings data on Thursday, October 5th. The technology company reported $1.68 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 for the quarter. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. On average, research analysts anticipate that Dell Technologies Inc. will post 6.93 EPS for the current year.

Dell Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, October 21st will be paid a $0.525 dividend. The ex-dividend date is Tuesday, October 21st. This represents a $2.10 annualized dividend and a yield of 1.3%. Dell Technologies's dividend payout ratio is presently 30.88%.

Insider Activity

In other Dell Technologies news, Director Ellen Jamison Kullman sold 79,806 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $153.56, for a total transaction of $12,255,009.36. Following the sale, the director owned 65,662 shares in the company, valued at $10,083,056.72. This represents a 54.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director William D. Green sold 42,736 shares of the stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $160.00, for a total value of $6,837,760.00. Following the sale, the director owned 47,619 shares in the company, valued at approximately $7,619,040. This represents a 47.30% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,617,755 shares of company stock valued at $653,694,973. 42.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dell Technologies

Institutional investors have recently made changes to their positions in the stock. Winnow Wealth LLC purchased a new stake in shares of Dell Technologies during the second quarter worth $25,000. Westside Investment Management Inc. lifted its position in shares of Dell Technologies by 84.7% during the second quarter. Westside Investment Management Inc. now owns 218 shares of the technology company's stock worth $27,000 after acquiring an additional 100 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of Dell Technologies in the second quarter worth $28,000. Central Pacific Bank Trust Division bought a new position in shares of Dell Technologies in the second quarter worth $29,000. Finally, Johnson Financial Group Inc. increased its holdings in shares of Dell Technologies by 66.2% in the second quarter. Johnson Financial Group Inc. now owns 251 shares of the technology company's stock worth $31,000 after purchasing an additional 100 shares during the period. Hedge funds and other 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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