Dell Technologies (NYSE:DELL) Trading Down 3.8% After Insider Selling

Dell Technologies Inc. (NYSE:DELL) shares dropped 3.8% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $113.52 and last traded at $113.98. Approximately 3,759,669 shares traded hands during trading, a decline of 65% from the average daily volume of 10,679,455 shares. The stock had previously closed at $118.54.

Specifically, CEO Michael S. Dell sold 10,000,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $122.40, for a total value of $1,224,000,000.00. Following the completion of the transaction, the chief executive officer now directly owns 16,912,241 shares of the company’s stock, valued at $2,070,058,298.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Bank of America upped their price target on shares of Dell Technologies from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Fox Advisors upgraded Dell Technologies from an “equal weight” rating to an “overweight” rating in a research report on Friday, August 30th. Citigroup upped their target price on Dell Technologies from $155.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Deutsche Bank Aktiengesellschaft started coverage on Dell Technologies in a research report on Friday. They set a “buy” rating and a $144.00 price objective for the company. Finally, Raymond James dropped their target price on Dell Technologies from $166.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $143.50.

Dell Technologies Stock Down 3.8 %

The business has a 50-day moving average price of $110.17 and a two-hundred day moving average price of $124.61. The company has a market capitalization of $80.85 billion, a price-to-earnings ratio of 23.26, a price-to-earnings-growth ratio of 1.25 and a beta of 0.90.

Dell Technologies (NYSE:DELL) last released its quarterly earnings data on Thursday, August 29th. The technology company reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $24.14 billion. During the same period last year, the firm earned $1.44 earnings per share. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Dell Technologies Inc. will post 6.9 EPS for the current fiscal year.

Dell Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 22nd will be paid a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Tuesday, October 22nd. Dell Technologies’s dividend payout ratio (DPR) is presently 36.33%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DELL. GPS Wealth Strategies Group LLC grew its stake in shares of Dell Technologies by 1.4% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 5,959 shares of the technology company’s stock worth $822,000 after acquiring an additional 80 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in Dell Technologies by 58.2% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 223 shares of the technology company’s stock worth $25,000 after purchasing an additional 82 shares in the last quarter. J.P. Marvel Investment Advisors LLC lifted its position in shares of Dell Technologies by 0.9% during the 1st quarter. J.P. Marvel Investment Advisors LLC now owns 10,887 shares of the technology company’s stock worth $1,242,000 after buying an additional 98 shares in the last quarter. Kathmere Capital Management LLC boosted its stake in shares of Dell Technologies by 2.2% in the 2nd quarter. Kathmere Capital Management LLC now owns 4,607 shares of the technology company’s stock worth $635,000 after buying an additional 100 shares during the last quarter. Finally, Front Row Advisors LLC increased its position in shares of Dell Technologies by 35.8% during the second quarter. Front Row Advisors LLC now owns 391 shares of the technology company’s stock valued at $54,000 after acquiring an additional 103 shares during the last quarter. Hedge funds and other institutional investors own 38.10% 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).