Dell Technologies (NYSE:DELL) Shares Gap Up to $120.63

Dell Technologies Inc. (NYSE:DELL) shares gapped up before the market opened on Wednesday . The stock had previously closed at $120.63, but opened at $126.01. Dell Technologies shares last traded at $121.88, with a volume of 1,889,654 shares.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DELL. Morgan Stanley lifted their target price on Dell Technologies from $100.00 to $128.00 and gave the company an “overweight” rating in a report on Friday, March 1st. UBS Group boosted their price objective on shares of Dell Technologies from $113.00 to $141.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Sanford C. Bernstein upped their price target on shares of Dell Technologies from $90.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Wells Fargo & Company boosted their target price on Dell Technologies from $85.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, March 1st. Finally, Evercore ISI lifted their price target on Dell Technologies from $95.00 to $125.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $104.63.

Dell Technologies Trading Up 3.9 %

The company has a market capitalization of $89.14 billion, a PE ratio of 28.58, a PEG ratio of 1.53 and a beta of 0.92. The firm has a fifty day moving average of $111.78 and a two-hundred day moving average of $87.70.

Dell Technologies (NYSE:DELL) last posted its earnings results on Thursday, February 29th. The technology company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.47. Dell Technologies had a negative return on equity of 172.07% and a net margin of 3.63%. The company had revenue of $22.32 billion for the quarter, compared to analysts’ expectations of $22.17 billion. During the same period last year, the firm earned $1.55 earnings per share. Dell Technologies’s quarterly revenue was down 10.9% on a year-over-year basis. On average, equities analysts expect that Dell Technologies Inc. will post 6.58 EPS for the current fiscal year.

Dell Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd will be issued a $0.445 dividend. The ex-dividend date of this dividend is Monday, April 22nd. This represents a $1.78 annualized dividend and a yield of 1.43%. This is a boost from Dell Technologies’s previous quarterly dividend of $0.37. Dell Technologies’s payout ratio is 40.73%.

Insiders Place Their Bets

In other Dell Technologies news, CEO Michael S. Dell sold 624,450 shares of Dell Technologies stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $119.80, for a total transaction of $74,809,110.00. Following the sale, the chief executive officer now directly owns 39,787,791 shares of the company’s stock, valued at approximately $4,766,577,361.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Michael S. Dell sold 41,550 shares of Dell Technologies stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $107.03, for a total transaction of $4,447,096.50. Following the completion of the transaction, the chief executive officer now directly owns 36,389,719 shares of the company’s stock, valued at approximately $3,894,791,624.57. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael S. Dell sold 624,450 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $119.80, for a total transaction of $74,809,110.00. Following the completion of the sale, the chief executive officer now owns 39,787,791 shares in the company, valued at approximately $4,766,577,361.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,382,204 shares of company stock worth $718,452,037. 48.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Dell Technologies

Hedge funds have recently made changes to their positions in the stock. FMR LLC boosted its holdings in Dell Technologies by 59.6% in the third quarter. FMR LLC now owns 9,376,674 shares of the technology company’s stock worth $646,053,000 after acquiring an additional 3,499,760 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Dell Technologies by 449.8% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,714,573 shares of the technology company’s stock valued at $284,165,000 after purchasing an additional 3,038,891 shares in the last quarter. Alkeon Capital Management LLC raised its holdings in Dell Technologies by 241.9% in the third quarter. Alkeon Capital Management LLC now owns 4,273,625 shares of the technology company’s stock worth $294,453,000 after buying an additional 3,023,625 shares during the last quarter. Morgan Stanley lifted its stake in shares of Dell Technologies by 96.9% in the third quarter. Morgan Stanley now owns 5,023,755 shares of the technology company’s stock worth $346,137,000 after buying an additional 2,472,866 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Dell Technologies during the third quarter valued at approximately $85,765,000. 38.10% of the stock is owned by institutional investors.

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).