Dell Technologies Inc. (NYSE:DELL) Sees Significant Decrease in Short Interest

Dell Technologies Inc. (NYSE:DELL) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 9,430,000 shares, a decline of 8.8% from the October 15th total of 10,340,000 shares. Based on an average trading volume of 10,100,000 shares, the days-to-cover ratio is currently 0.9 days.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. UBS Group lowered their target price on shares of Dell Technologies from $164.00 to $158.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Raymond James lowered their price objective on Dell Technologies from $166.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. Susquehanna initiated coverage on Dell Technologies in a research report on Tuesday, September 10th. They set a “neutral” rating and a $120.00 target price on the stock. Wells Fargo & Company boosted their price target on Dell Technologies from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Bank of America upped their price objective on shares of Dell Technologies from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, August 30th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Dell Technologies has an average rating of “Moderate Buy” and an average target price of $145.88.

Dell Technologies Stock Performance

Shares of Dell Technologies stock traded down $1.76 on Tuesday, reaching $134.25. The company had a trading volume of 2,976,994 shares, compared to its average volume of 10,034,500. The firm has a market cap of $94.30 billion, a PE ratio of 24.64, a PEG ratio of 1.39 and a beta of 0.89. Dell Technologies has a 52-week low of $67.51 and a 52-week high of $179.70. The firm’s 50 day moving average price is $123.63 and its two-hundred day moving average price is $126.55.

Dell Technologies (NYSE:DELL) last announced its earnings results on Thursday, August 29th. The technology company reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.40. Dell Technologies had a net margin of 4.32% and a negative return on equity of 178.09%. The firm had revenue of $25.03 billion for the quarter, compared to the consensus estimate of $24.14 billion. During the same period in the prior year, the firm earned $1.44 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, sell-side analysts predict that Dell Technologies will post 6.92 EPS for the current year.

Dell Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 22nd were paid a dividend of $0.445 per share. The ex-dividend date was Tuesday, October 22nd. This represents a $1.78 annualized dividend and a yield of 1.33%. Dell Technologies’s payout ratio is 32.72%.

Insider Activity at Dell Technologies

In other Dell Technologies news, CEO Michael S. Dell sold 10,000,000 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $122.40, for a total transaction of $1,224,000,000.00. Following the sale, the chief executive officer now owns 16,912,241 shares of the company’s stock, valued at approximately $2,070,058,298.40. This trade represents a 37.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Radakovich Lynn Vojvodich sold 725 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $129.50, for a total value of $93,887.50. Following the completion of the transaction, the director now directly owns 23,680 shares of the company’s stock, valued at approximately $3,066,560. The trade was a 2.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,953,387 shares of company stock worth $2,113,353,236 over the last three months. 46.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dell Technologies

A number of hedge funds have recently bought and sold shares of DELL. Capital World Investors purchased a new stake in shares of Dell Technologies during the first quarter worth approximately $835,946,000. State Street Corp increased its position in shares of Dell Technologies by 92.4% in the 3rd quarter. State Street Corp now owns 12,767,011 shares of the technology company’s stock valued at $1,513,401,000 after purchasing an additional 6,131,507 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Dell Technologies by 71.8% in the 3rd quarter. Geode Capital Management LLC now owns 6,317,829 shares of the technology company’s stock valued at $746,596,000 after purchasing an additional 2,641,456 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Dell Technologies by 19,376.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,427,699 shares of the technology company’s stock worth $287,779,000 after purchasing an additional 2,415,234 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in Dell Technologies by 83.4% in the first quarter. DekaBank Deutsche Girozentrale now owns 2,224,975 shares of the technology company’s stock valued at $250,676,000 after buying an additional 1,011,512 shares during the last quarter. Institutional investors and hedge funds own 38.10% 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).