Dell Technologies (NYSE:DELL) Stock Price Up 0.8% – Here’s What Happened

Dell Technologies Inc. (NYSE:DELL)’s share price shot up 0.8% during mid-day trading on Thursday . The stock traded as high as $84.35 and last traded at $84.05. 1,060,948 shares were traded during mid-day trading, a decline of 90% from the average session volume of 10,342,068 shares. The stock had previously closed at $83.36.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Bank of America cut their target price on Dell Technologies from $155.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. OTR Global raised shares of Dell Technologies from a “negative” rating to a “positive” rating in a research report on Wednesday, February 12th. The Goldman Sachs Group cut their price target on Dell Technologies from $165.00 to $145.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Barclays upped their target price on shares of Dell Technologies from $115.00 to $116.00 and gave the company an “equal weight” rating in a research note on Friday, February 28th. Finally, Citigroup decreased their price target on Dell Technologies from $145.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $136.41.

Dell Technologies Stock Performance

The stock has a market capitalization of $59.35 billion, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 1.10 and a beta of 0.94. The stock’s fifty day simple moving average is $96.90 and its two-hundred day simple moving average is $112.68.

Dell Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Tuesday, April 22nd will be given a dividend of $0.525 per share. This is a positive change from Dell Technologies’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.10 annualized dividend and a dividend yield of 2.47%. Dell Technologies’s dividend payout ratio is presently 33.76%.

Insider Activity

In related news, Director Radakovich Lynn Vojvodich sold 725 shares of Dell Technologies stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $120.00, for a total value of $87,000.00. Following the transaction, the director now owns 23,680 shares in the company, valued at $2,841,600. This trade represents a 2.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brunilda Rios sold 926 shares of the firm’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $93.29, for a total value of $86,386.54. Following the completion of the sale, the chief accounting officer now directly owns 37,948 shares of the company’s stock, valued at $3,540,168.92. The trade was a 2.38 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 46.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of DELL. Optimist Retirement Group LLC lifted its holdings in shares of Dell Technologies by 27.3% during the 3rd quarter. Optimist Retirement Group LLC now owns 2,157 shares of the technology company’s stock valued at $256,000 after buying an additional 463 shares during the period. Orion Portfolio Solutions LLC raised its position in Dell Technologies by 24.0% during the third quarter. Orion Portfolio Solutions LLC now owns 2,319 shares of the technology company’s stock valued at $275,000 after purchasing an additional 449 shares during the period. Virtu Financial LLC purchased a new position in shares of Dell Technologies during the 3rd quarter worth about $894,000. Morse Asset Management Inc lifted its stake in shares of Dell Technologies by 180.1% during the 3rd quarter. Morse Asset Management Inc now owns 21,223 shares of the technology company’s stock worth $2,516,000 after acquiring an additional 13,646 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Dell Technologies in the third quarter worth about $198,000. 76.37% of the stock is owned by hedge funds and other institutional investors.

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).