Ellen Jamison Kullman Sells 79,806 Shares of Dell Technologies (NYSE:DELL) Stock

Key Points

• Ellen Jamison Kullman, director of Dell Technologies, sold 79,806 shares of the company's stock for approximately $12.26 million, reducing her ownership by 54.86%.
• Dell Technologies announced a quarterly dividend of $0.525 per share, payable on October 31st, with an annualized yield of 1.4%.
• The stock is currently valued at $149.57 following a 1.1% decline, with a market capitalization of about $100.57 billion.

Dell Technologies Inc. (NYSE:DELL - Get Free Report) Director Ellen Jamison Kullman sold 79,806 shares of Dell Technologies stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $153.56, for a total transaction of $12,255,009.36. Following the completion of the sale, the director owned 65,662 shares in the company, valued at approximately $10,083,056.72. This represents a 54.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Dell Technologies Stock Down 1.1%

NYSE DELL traded down $1.74 on Friday, reaching $149.57. The company had a trading volume of 5,213,874 shares, compared to its average volume of 7,274,673. The stock has a market capitalization of $100.57 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 1.05 and a beta of 1.05. The firm's 50 day moving average price is $135.67 and its 200 day moving average price is $118.41. Dell Technologies Inc. has a 12 month low of $66.25 and a 12 month high of $166.10.

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 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. On average, research analysts expect that Dell Technologies Inc. will post 6.93 EPS for the current year.

Dell Technologies Announces Dividend

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

Institutional Investors Weigh In On Dell Technologies

Several large investors have recently added to or reduced their stakes in the stock. HM Payson & Co. boosted its position in Dell Technologies by 2.7% in the 3rd quarter. HM Payson & Co. now owns 3,221 shares of the technology company's stock valued at $457,000 after buying an additional 85 shares during the period. Optivise Advisory Services LLC purchased a new stake in shares of Dell Technologies in the 3rd quarter worth approximately $206,000. Perigon Wealth Management LLC lifted its position in shares of Dell Technologies by 4.2% in the 3rd quarter. Perigon Wealth Management LLC now owns 5,173 shares of the technology company's stock worth $733,000 after purchasing an additional 207 shares during the period. Parisi Gray Wealth Management lifted its position in shares of Dell Technologies by 9.2% in the 3rd quarter. Parisi Gray Wealth Management now owns 3,490 shares of the technology company's stock worth $495,000 after purchasing an additional 295 shares during the period. Finally, Sowell Financial Services LLC lifted its position in shares of Dell Technologies by 13.5% in the 3rd quarter. Sowell Financial Services LLC now owns 19,419 shares of the technology company's stock worth $2,753,000 after purchasing an additional 2,303 shares during the period. 76.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Barclays boosted their target price on shares of Dell Technologies from $133.00 to $151.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 8th. KeyCorp assumed coverage on shares of Dell Technologies in a research note on Thursday, June 26th. They issued a "sector weight" rating for the company. Zacks Research upgraded Dell Technologies from a "hold" rating to a "strong-buy" rating in a research report on Monday. UBS Group boosted their price objective on Dell Technologies from $155.00 to $186.00 and gave the company a "buy" rating in a report on Wednesday, October 8th. Finally, Susquehanna boosted their price objective on Dell Technologies from $120.00 to $130.00 and gave the company a "neutral" rating in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have assigned 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 $160.79.

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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