Dell Technologies (NYSE:DELL) Stock Price Down 16% – Here’s Why

Dell Technologies Inc. (NYSE:DELL) shares were down 16% during trading on Thursday . The company traded as low as $78.93 and last traded at $80.08. Approximately 12,806,294 shares changed hands during mid-day trading, an increase of 25% from the average daily volume of 10,257,130 shares. The stock had previously closed at $95.33.

Wall Street Analyst Weigh In

Several research firms recently commented on DELL. Morgan Stanley dropped their target price on Dell Technologies from $154.00 to $128.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Wells Fargo & Company cut their target price on shares of Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Friday, February 28th. Bank of America decreased their price objective on shares of Dell Technologies from $155.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. JPMorgan Chase & Co. dropped their target price on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Finally, Citigroup reduced their price target on Dell Technologies from $156.00 to $145.00 and set a “buy” rating for the company in a report on Friday, February 21st. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $141.24.

Dell Technologies Stock Down 7.3 %

The stock has a market capitalization of $50.13 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 1.10 and a beta of 0.83. The business’s 50-day moving average is $101.57 and its two-hundred day moving average is $115.31.

Dell Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Tuesday, April 22nd will be given a $0.525 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This is a positive change from Dell Technologies’s previous quarterly dividend of $0.45. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.93%. Dell Technologies’s dividend payout ratio is 33.76%.

Insider Buying and Selling

In related news, CAO Brunilda Rios sold 926 shares of the firm’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $93.29, for a total transaction of $86,386.54. Following the completion of the sale, the chief accounting officer now directly owns 37,948 shares in the company, valued at approximately $3,540,168.92. This trade represents a 2.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director V (Gp) L.L.C. Slta sold 325,167 shares of Dell Technologies stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $124.52, for a total transaction of $40,489,794.84. Following the transaction, the director now directly owns 810,657 shares in the company, valued at $100,943,009.64. This trade represents a 28.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 825,863 shares of company stock worth $100,413,839. 46.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Farmers Trust Co. lifted its stake in shares of Dell Technologies by 7.1% in the 1st quarter. Farmers Trust Co. now owns 33,944 shares of the technology company’s stock valued at $3,094,000 after purchasing an additional 2,245 shares during the last quarter. Versant Capital Management Inc lifted its position in Dell Technologies by 74.2% in the first quarter. Versant Capital Management Inc now owns 547 shares of the technology company’s stock valued at $50,000 after buying an additional 233 shares during the last quarter. First Hawaiian Bank boosted its stake in Dell Technologies by 67.1% during the first quarter. First Hawaiian Bank now owns 34,878 shares of the technology company’s stock worth $3,179,000 after buying an additional 14,010 shares during the period. Kera Capital Partners Inc. increased its position in shares of Dell Technologies by 1.9% during the first quarter. Kera Capital Partners Inc. now owns 33,827 shares of the technology company’s stock valued at $3,083,000 after acquiring an additional 642 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Dell Technologies by 80.5% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,164 shares of the technology company’s stock valued at $106,000 after acquiring an additional 519 shares during the period. 76.37% of the stock is currently owned by hedge funds and other 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).