Dell Technologies (NYSE:DELL) Shares Up 1.3% – Here’s Why

Dell Technologies Inc. (NYSE:DELL) shot up 1.3% during mid-day trading on Friday . The stock traded as high as $126.18 and last traded at $125.05. 3,725,609 shares changed hands during trading, a decline of 57% from the average session volume of 8,724,460 shares. The stock had previously closed at $123.48.

Analysts Set New Price Targets

Several research firms recently issued reports on DELL. Morgan Stanley increased their price target on shares of Dell Technologies from $89.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 21st. JPMorgan Chase & Co. raised their target price on shares of Dell Technologies from $111.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, May 30th. Wall Street Zen upgraded shares of Dell Technologies from a “hold” rating to a “buy” rating in a research report on Sunday. KeyCorp started coverage on shares of Dell Technologies in a research report on Thursday, June 26th. They issued a “sector weight” rating on the stock. Finally, Mizuho raised their target price on shares of Dell Technologies from $140.00 to $145.00 and gave the company an “outperform” rating in a research report on Monday, May 19th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $138.00.

Dell Technologies Trading Up 1.3%

The company has a market capitalization of $84.89 billion, a P/E ratio of 19.94, a price-to-earnings-growth ratio of 1.15 and a beta of 1.02. The company’s 50 day moving average is $110.96 and its 200-day moving average is $105.27.

Dell Technologies (NYSE:DELL) last released its quarterly earnings data on Thursday, May 29th. The technology company reported $1.55 earnings per share for the quarter, missing analysts’ consensus estimates of $1.68 by ($0.13). The firm had revenue of $23.38 billion for the quarter, compared to the consensus estimate of $23.17 billion. Dell Technologies had a net margin of 4.63% and a negative return on equity of 226.48%. The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.27 earnings per share. Analysts predict that Dell Technologies Inc. will post 6.93 EPS for the current fiscal year.

Dell Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be paid a dividend of $0.525 per share. The ex-dividend date is Tuesday, July 22nd. This represents a $2.10 dividend on an annualized basis and a yield of 1.68%. Dell Technologies’s dividend payout ratio is currently 33.49%.

Insider Buying and Selling at Dell Technologies

In other news, CEO Michael S. Dell sold 10,000,000 shares of the firm’s stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $122.27, for a total transaction of $1,222,700,000.00. Following the sale, the chief executive officer owned 25,912,241 shares of the company’s stock, valued at $3,168,289,707.07. This trade represents a 27.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lake Group L.L.C. Silver sold 10,681 shares of the firm’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $120.33, for a total transaction of $1,285,244.73. Following the sale, the director directly owned 938,741 shares in the company, valued at approximately $112,958,704.53. The trade was a 1.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,113,977 shares of company stock worth $1,471,321,229 in the last 90 days. Insiders own 42.00% of the company’s stock.

Institutional Trading of Dell Technologies

A number of institutional investors have recently made changes to their positions in DELL. Brighton Jones LLC boosted its holdings in shares of Dell Technologies by 42.7% during the 4th quarter. Brighton Jones LLC now owns 3,011 shares of the technology company’s stock valued at $347,000 after acquiring an additional 901 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of Dell Technologies by 79.4% in the fourth quarter. Jones Financial Companies Lllp now owns 11,384 shares of the technology company’s stock worth $1,312,000 after buying an additional 5,040 shares during the last quarter. Steward Partners Investment Advisory LLC grew its position in Dell Technologies by 1.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 19,376 shares of the technology company’s stock valued at $2,233,000 after buying an additional 210 shares during the period. Keybank National Association OH grew its position in Dell Technologies by 72.5% during the fourth quarter. Keybank National Association OH now owns 5,114 shares of the technology company’s stock valued at $589,000 after buying an additional 2,150 shares during the period. Finally, M&T Bank Corp grew its position in Dell Technologies by 4.2% during the fourth quarter. M&T Bank Corp now owns 41,046 shares of the technology company’s stock valued at $4,730,000 after buying an additional 1,663 shares during the period. 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).