Dell Technologies (NYSE:DELL) Trading Up 6.6% – Here’s What Happened

Dell Technologies Inc. (NYSE:DELL) shares were up 6.6% during mid-day trading on Monday . The company traded as high as $104.08 and last traded at $102.23. Approximately 3,289,335 shares changed hands during trading, a decline of 68% from the average daily volume of 10,399,268 shares. The stock had previously closed at $95.91.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DELL shares. Barclays lifted their price target on Dell Technologies from $115.00 to $116.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. TD Cowen cut their target price on Dell Technologies from $128.00 to $120.00 and set a “hold” rating for the company in a research note on Friday, February 28th. Citigroup cut their target price on Dell Technologies from $145.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, April 14th. OTR Global raised Dell Technologies from a “negative” rating to a “positive” rating in a research note on Wednesday, February 12th. Finally, Loop Capital cut their target price on Dell Technologies from $185.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $134.65.

Dell Technologies Price Performance

The stock has a market capitalization of $72.05 billion, a PE ratio of 18.24, a PEG ratio of 1.10 and a beta of 0.99. The company has a 50 day moving average price of $90.16 and a 200-day moving average price of $108.92.

Dell Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Tuesday, April 22nd were paid a dividend of $0.525 per share. The ex-dividend date was Tuesday, April 22nd. This is a boost from Dell Technologies’s previous quarterly dividend of $0.45. This represents a $2.10 annualized dividend and a dividend yield of 2.03%. Dell Technologies’s payout ratio is 33.76%.

Insider Activity

In related news, CAO Brunilda Rios sold 926 shares of the company’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $93.29, for a total value of $86,386.54. Following the sale, the chief accounting officer now directly owns 37,948 shares of the company’s stock, valued at $3,540,168.92. This represents a 2.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 46.70% of the company’s stock.

Institutional Investors Weigh In On Dell Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DELL. Norges Bank bought a new stake in Dell Technologies in the fourth quarter worth $455,029,000. Vanguard Group Inc. boosted its holdings in Dell Technologies by 10.5% in the fourth quarter. Vanguard Group Inc. now owns 27,960,560 shares of the technology company’s stock worth $3,222,175,000 after acquiring an additional 2,662,407 shares in the last quarter. Michael & Susan Dell Foundation bought a new stake in Dell Technologies in the fourth quarter worth $265,052,000. Janus Henderson Group PLC lifted its holdings in shares of Dell Technologies by 160.5% during the fourth quarter. Janus Henderson Group PLC now owns 3,027,066 shares of the technology company’s stock valued at $348,814,000 after purchasing an additional 1,865,013 shares in the last quarter. Finally, Swedbank AB increased its holdings in Dell Technologies by 803.6% in the 4th quarter. Swedbank AB now owns 1,901,112 shares of the technology company’s stock worth $219,084,000 after buying an additional 1,690,709 shares in the last quarter. 76.37% of the stock is owned by hedge funds and other institutional investors.

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).