Dell Technologies (NYSE:DELL) Trading Down 8.4% – Here’s Why

Dell Technologies Inc. (NYSE:DELL) traded down 8.4% on Monday . The company traded as low as $120.01 and last traded at $122.5670. 15,240,614 shares changed hands during mid-day trading, an increase of 113% from the average session volume of 7,164,901 shares. The stock had previously closed at $133.76.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Fox Advisors lowered Dell Technologies from an “overweight” rating to an “equal weight” rating in a research note on Friday, August 29th. Sanford C. Bernstein increased their price target on shares of Dell Technologies from $175.00 to $180.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Piper Sandler started coverage on shares of Dell Technologies in a research note on Tuesday, October 21st. They issued an “overweight” rating and a $172.00 price objective for the company. Wall Street Zen raised shares of Dell Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. Finally, Barclays increased their target price on shares of Dell Technologies from $133.00 to $151.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $161.35.

Dell Technologies Price Performance

The company has a market cap of $82.41 billion, a PE ratio of 18.02, a P/E/G ratio of 0.91 and a beta of 1.02. The business’s 50 day moving average is $143.86 and its 200-day moving average is $129.16.

Dell Technologies (NYSE:DELL) last announced its quarterly earnings data on Thursday, October 5th. The technology company reported $1.68 EPS for the quarter. The company had revenue of $26.43 billion for the quarter. Dell Technologies had a net margin of 4.73% and a negative return on equity of 236.21%. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. As a group, sell-side analysts predict that Dell Technologies Inc. will post 6.93 EPS for the current fiscal year.

Dell Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, October 21st were paid a $0.525 dividend. The ex-dividend date was Tuesday, October 21st. This represents a $2.10 dividend on an annualized basis and a yield of 1.7%. Dell Technologies’s dividend payout ratio (DPR) is currently 30.88%.

Insider Activity

In other news, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of the stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $135.98, for a total value of $112,183,364.02. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director V (Gp) L.L.C. Slta sold 565,000 shares of the business’s stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $132.32, for a total value of $74,760,800.00. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 4,537,755 shares of company stock valued at $642,644,973. Insiders own 42.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Brighton Jones LLC lifted its position in Dell Technologies by 42.7% in the fourth quarter. Brighton Jones LLC now owns 3,011 shares of the technology company’s stock valued at $347,000 after acquiring an additional 901 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Dell Technologies by 424.1% in the 1st quarter. Larson Financial Group LLC now owns 870 shares of the technology company’s stock valued at $79,000 after purchasing an additional 704 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Dell Technologies by 20.7% in the 1st quarter. Victory Capital Management Inc. now owns 130,666 shares of the technology company’s stock valued at $11,910,000 after purchasing an additional 22,401 shares during the period. Cullen Frost Bankers Inc. grew its stake in Dell Technologies by 270.7% during the 1st quarter. Cullen Frost Bankers Inc. now owns 304 shares of the technology company’s stock worth $28,000 after buying an additional 222 shares during the last quarter. Finally, Graypoint LLC increased its position in Dell Technologies by 12.2% during the first quarter. Graypoint LLC now owns 2,634 shares of the technology company’s stock worth $240,000 after buying an additional 286 shares during the period. Institutional investors and hedge funds own 76.37% 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).