Dell Technologies (NYSE:DELL) Trading Up 2.2% After Dividend Announcement

Shares of Dell Technologies Inc. (NYSE:DELL) shot up 2.2% during trading on Thursday after the company announced a dividend. The company traded as high as $120.07 and last traded at $118.55. 2,934,149 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 10,348,117 shares. The stock had previously closed at $115.99.

The newly announced dividend which will be paid on Friday, November 1st. Investors of record on Tuesday, October 22nd will be given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Tuesday, October 22nd. Dell Technologies’s payout ratio is 36.33%.

Analyst Upgrades and Downgrades

DELL has been the subject of several research reports. Evercore ISI reiterated an “outperform” rating and issued a $140.00 target price on shares of Dell Technologies in a report on Wednesday, August 28th. Bank of America boosted their price objective on Dell Technologies from $150.00 to $155.00 and gave the company a “buy” rating in a report on Friday, August 30th. UBS Group dropped their target price on Dell Technologies from $164.00 to $158.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Morgan Stanley reduced their price target on shares of Dell Technologies from $142.00 to $136.00 and set an “overweight” rating on the stock in a research report on Thursday, August 29th. Finally, Citigroup raised their price objective on shares of Dell Technologies from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $139.19.

Dell Technologies Stock Performance

The business has a 50-day moving average of $111.30 and a 200-day moving average of $124.26. The stock has a market capitalization of $83.36 billion, a price-to-earnings ratio of 23.98, a PEG ratio of 1.15 and a beta of 0.90.

Dell Technologies (NYSE:DELL) last released its quarterly earnings results on Thursday, August 29th. The technology company reported $1.89 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $24.14 billion. During the same quarter in the prior year, the firm earned $1.44 EPS. Dell Technologies’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, research analysts predict that Dell Technologies Inc. will post 6.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Dell Technologies

In related news, CEO Michael S. Dell sold 221,460 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $102.07, for a total value of $22,604,422.20. Following the completion of the sale, the chief executive officer now owns 20,190,781 shares in the company, valued at $2,060,873,016.67. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director V (Gp) L.L.C. Slta sold 8,493 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $146.80, for a total value of $1,246,772.40. Following the completion of the sale, the director now owns 731,612 shares in the company, valued at $107,400,641.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael S. Dell sold 221,460 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $102.07, for a total transaction of $22,604,422.20. Following the sale, the chief executive officer now directly owns 20,190,781 shares in the company, valued at approximately $2,060,873,016.67. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,297,857 shares of company stock valued at $840,653,193. 46.70% of the stock is owned by company insiders.

Institutional Trading of Dell Technologies

Several large investors have recently bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Dell Technologies by 22.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 135,678 shares of the technology company’s stock worth $15,482,000 after purchasing an additional 25,117 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Dell Technologies in the first quarter worth $104,000. Oppenheimer Asset Management Inc. lifted its position in shares of Dell Technologies by 31.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 6,485 shares of the technology company’s stock valued at $740,000 after acquiring an additional 1,539 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Dell Technologies during the fourth quarter valued at $410,000. Finally, Tidal Investments LLC increased its position in Dell Technologies by 114.2% during the 1st quarter. Tidal Investments LLC now owns 10,188 shares of the technology company’s stock worth $1,163,000 after purchasing an additional 5,432 shares in 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).