Dell Technologies (NYSE:DELL) Stock Price Up 2.9% – What’s Next?

Dell Technologies Inc. (NYSE:DELLGet Free Report)’s stock price was up 2.9% during trading on Friday . The stock traded as high as $124.79 and last traded at $124.07. Approximately 1,281,475 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 10,262,472 shares. The stock had previously closed at $120.57.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on DELL shares. Citigroup upped their price target on shares of Dell Technologies from $155.00 to $160.00 and gave the company a “buy” rating in a report on Friday, August 30th. Evercore ISI reaffirmed an “outperform” rating and issued a $140.00 price target on shares of Dell Technologies in a report on Wednesday, August 28th. Wells Fargo & Company lowered their target price on shares of Dell Technologies from $150.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, August 30th. TD Cowen lowered their target price on shares of Dell Technologies from $155.00 to $128.00 and set a “hold” rating on the stock in a research note on Friday, August 30th. Finally, Bank of America increased their target price on shares of Dell Technologies from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $143.50.

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Dell Technologies Stock Performance

The stock has a market capitalization of $87.53 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 1.29 and a beta of 0.90. The stock’s 50 day moving average is $116.30 and its two-hundred day moving average is $125.34.

Dell Technologies (NYSE:DELLGet Free Report) last released its quarterly earnings data on Thursday, August 29th. The technology company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. The company had revenue of $25.03 billion during the quarter, compared to the consensus estimate of $24.14 billion. Dell Technologies had a net margin of 4.32% and a negative return on equity of 178.09%. Dell Technologies’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.44 EPS. Equities research analysts expect that Dell Technologies Inc. will post 6.91 EPS for the current fiscal year.

Dell Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 22nd will be issued a $0.445 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $1.78 dividend on an annualized basis and a yield of 1.44%. Dell Technologies’s payout ratio is 36.33%.

Insider Buying and Selling at Dell Technologies

In other Dell Technologies news, CEO Michael S. Dell sold 10,000,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $122.40, for a total value of $1,224,000,000.00. Following the completion of the sale, the chief executive officer now owns 16,912,241 shares in the company, valued at approximately $2,070,058,298.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Dell Technologies news, CEO Michael S. Dell sold 10,000,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $122.40, for a total value of $1,224,000,000.00. Following the completion of the sale, the chief executive officer now owns 16,912,241 shares in the company, valued at approximately $2,070,058,298.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Radakovich Lynn Vojvodich sold 725 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $129.50, for a total transaction of $93,887.50. Following the sale, the director now owns 23,680 shares of the company’s stock, valued at $3,066,560. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,953,387 shares of company stock worth $2,113,353,236. Insiders own 46.70% of the company’s stock.

Institutional Trading of Dell Technologies

Hedge funds and other institutional investors have recently made changes to their positions in the company. Clean Yield Group acquired a new stake in shares of Dell Technologies during the 3rd quarter worth approximately $25,000. Accordant Advisory Group Inc purchased a new position in shares of Dell Technologies during the 2nd quarter worth approximately $28,000. New Covenant Trust Company N.A. purchased a new position in shares of Dell Technologies during the 1st quarter worth approximately $30,000. Nemes Rush Group LLC purchased a new position in shares of Dell Technologies during the 2nd quarter worth approximately $33,000. Finally, Crewe Advisors LLC purchased a new position in shares of Dell Technologies during the 2nd quarter worth approximately $34,000. Institutional investors and hedge funds own 38.10% of the company’s stock.

Dell Technologies Company Profile

(Get Free Report)

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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