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

Dell Technologies Inc. (NYSE:DELL) shares traded up 2.2% during mid-day trading on Thursday following a dividend announcement from the company. 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. Stockholders of record on Tuesday, October 22nd will be issued a $0.445 dividend. 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 dividend payout ratio is presently 36.33%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on DELL shares. Susquehanna assumed coverage on Dell Technologies in a research report on Tuesday, September 10th. They issued a “neutral” rating and a $120.00 target price on the stock. Mizuho began coverage on shares of Dell Technologies in a research note on Tuesday. They issued an “outperform” rating and a $135.00 price objective on the stock. Sanford C. Bernstein decreased their target price on shares of Dell Technologies from $155.00 to $140.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. JPMorgan Chase & Co. increased their price target on Dell Technologies from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Finally, Raymond James decreased their price objective on Dell Technologies from $166.00 to $160.00 and set an “outperform” rating for the company in a report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $139.19.

Dell Technologies Price Performance

The company’s fifty day simple moving average is $111.30 and its 200-day simple moving average is $124.26. The firm has a market capitalization of $83.36 billion, a PE ratio of 23.98, a P/E/G ratio of 1.15 and a beta of 0.90.

Dell Technologies (NYSE:DELL) last posted its quarterly earnings data on Thursday, August 29th. The technology company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $25.03 billion for the quarter, compared to analysts’ expectations of $24.14 billion. Dell Technologies had a negative return on equity of 178.09% and a net margin of 4.32%. Dell Technologies’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.44 EPS. Analysts forecast that Dell Technologies Inc. will post 6.9 earnings per share for the current year.

Insider Activity at Dell Technologies

In other news, Director V (Gp) L.L.C. Slta sold 1,000,000 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $144.68, for a total transaction of $144,680,000.00. Following the completion of the sale, the director now owns 770,369 shares of the company’s stock, valued at $111,456,986.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director V (Gp) L.L.C. Slta sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $144.68, for a total transaction of $144,680,000.00. Following the transaction, the director now directly owns 770,369 shares in the company, valued at approximately $111,456,986.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael S. Dell sold 221,460 shares of the stock in a transaction that occurred on 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 directly owns 20,190,781 shares of the company’s stock, valued at approximately $2,060,873,016.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,297,857 shares of company stock valued at $840,653,193. 46.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Dell Technologies

A number of hedge funds have recently modified their holdings of the company. Accordant Advisory Group Inc acquired a new position in Dell Technologies in the 2nd quarter valued at about $28,000. Massmutual Trust Co. FSB ADV increased its stake in Dell Technologies by 58.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 223 shares of the technology company’s stock worth $25,000 after acquiring an additional 82 shares during the last quarter. Nemes Rush Group LLC purchased a new stake in Dell Technologies in the second quarter valued at $33,000. Crewe Advisors LLC acquired a new position in shares of Dell Technologies in the 2nd quarter valued at $34,000. Finally, New Covenant Trust Company N.A. purchased a new position in shares of Dell Technologies during the 1st quarter worth $30,000. Hedge funds and other institutional investors 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).