Dell Technologies (NYSE:DELL) Trading Up 3.1% – Here’s What Happened

Dell Technologies Inc. (NYSE:DELL) shares shot up 3.1% on Monday . The stock traded as high as $77.30 and last traded at $73.87. 5,684,124 shares were traded during mid-day trading, a decline of 45% from the average session volume of 10,260,234 shares. The stock had previously closed at $71.63.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Loop Capital cut their price target on shares of Dell Technologies from $185.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Wells Fargo & Company reduced their target price on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Bank of America dropped their price target on Dell Technologies from $155.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, February 18th. Citigroup reduced their price objective on Dell Technologies from $156.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Finally, Barclays boosted their target price on shares of Dell Technologies from $115.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Friday, February 28th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Dell Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $141.24.

Dell Technologies Stock Up 4.5 %

The firm has a market cap of $52.24 billion, a P/E ratio of 13.22, a P/E/G ratio of 1.10 and a beta of 0.94. The business has a fifty day moving average of $100.99 and a 200 day moving average of $114.99.

Dell Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Tuesday, April 22nd will be paid a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Tuesday, April 22nd. This is an increase from Dell Technologies’s previous quarterly dividend of $0.45. Dell Technologies’s dividend payout ratio is presently 33.76%.

Insider Transactions at Dell Technologies

In other news, CAO Brunilda Rios sold 926 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $93.29, for a total value of $86,386.54. Following the completion of the transaction, the chief accounting officer now owns 37,948 shares in the company, valued at $3,540,168.92. This represents a 2.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the firm’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $119.73, for a total transaction of $59,750,657.85. Following the sale, the director now owns 810,657 shares in the company, valued at approximately $97,059,962.61. The trade was a 38.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 500,696 shares of company stock valued at $59,924,044 over the last three months. 46.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dell Technologies

A number of large investors have recently added to or reduced their stakes in the company. Bellwether Advisors LLC acquired a new position in shares of Dell Technologies during the fourth quarter worth about $25,000. Vision Financial Markets LLC bought a new position in shares of Dell Technologies during the 4th quarter worth approximately $26,000. Lee Danner & Bass Inc. acquired a new stake in shares of Dell Technologies in the fourth quarter valued at approximately $26,000. Byrne Asset Management LLC bought a new stake in shares of Dell Technologies in the fourth quarter worth $28,000. Finally, Versant Capital Management Inc grew its position in Dell Technologies by 54.7% in the fourth quarter. Versant Capital Management Inc now owns 314 shares of the technology company’s stock valued at $36,000 after purchasing an additional 111 shares in the last quarter. Institutional investors own 76.37% of the company’s stock.

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).