Michael S. Dell Sells 1,166,595 Shares of Dell Technologies Inc. (NYSE:DELL) Stock

Dell Technologies Inc. (NYSE:DELL) CEO Michael S. Dell sold 1,166,595 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $117.42, for a total value of $136,981,584.90. Following the transaction, the chief executive officer now directly owns 26,912,241 shares of the company’s stock, valued at approximately $3,160,035,338.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Dell Technologies Stock Up 0.0 %

DELL traded up $0.05 during trading on Monday, hitting $117.55. The company’s stock had a trading volume of 8,062,985 shares, compared to its average volume of 10,732,785. Dell Technologies Inc. has a twelve month low of $63.90 and a twelve month high of $179.70. The stock’s fifty day moving average price is $110.91 and its 200-day moving average price is $124.33. The firm has a market capitalization of $83.38 billion, a P/E ratio of 23.99, a PEG ratio of 1.15 and a beta of 0.90.

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

Dell Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders 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 Ratings Changes

Several analysts have recently weighed in on the company. TD Cowen reduced their price target on Dell Technologies from $155.00 to $128.00 and set a “hold” rating on the stock in a report on Friday, August 30th. Susquehanna assumed coverage on Dell Technologies in a report on Tuesday, September 10th. They set a “neutral” rating and a $120.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on Dell Technologies from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Raymond James reduced their price target on Dell Technologies from $166.00 to $160.00 and set an “outperform” rating on the stock in a report on Friday, August 30th. Finally, Morgan Stanley reduced their price target on Dell Technologies from $142.00 to $136.00 and set an “overweight” rating on the stock in a report on Thursday, August 29th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $139.19.

Hedge Funds Weigh In On Dell Technologies

A number of institutional investors have recently modified their holdings of DELL. Dimensional Fund Advisors LP raised its position in shares of Dell Technologies by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 889,485 shares of the technology company’s stock worth $68,048,000 after purchasing an additional 3,343 shares during the period. Norges Bank acquired a new position in shares of Dell Technologies during the fourth quarter worth approximately $8,892,000. PNC Financial Services Group Inc. raised its position in shares of Dell Technologies by 0.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 34,284 shares of the technology company’s stock worth $2,623,000 after purchasing an additional 216 shares during the period. Assetmark Inc. acquired a new position in shares of Dell Technologies during the fourth quarter worth approximately $183,000. Finally, Franklin Resources Inc. raised its position in Dell Technologies by 30.8% in the 4th quarter. Franklin Resources Inc. now owns 33,685 shares of the technology company’s stock valued at $2,577,000 after buying an additional 7,936 shares during the last quarter. 38.10% of the stock is owned by institutional investors and hedge funds.

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).