Dell Technologies (NYSE:DELL) Shares Down 1.8% – Here’s Why

Dell Technologies Inc. (NYSE:DELL) dropped 1.8% during trading on Friday . The company traded as low as $143.08 and last traded at $146.4380. Approximately 5,764,942 shares were traded during trading, a decline of 19% from the average daily volume of 7,138,958 shares. The stock had previously closed at $149.18.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DELL shares. Wall Street Zen raised shares of Dell Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, September 13th. TD Cowen increased their price target on shares of Dell Technologies from $130.00 to $150.00 and gave the stock a “hold” rating in a report on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on shares of Dell Technologies from $160.00 to $180.00 and gave the company an “overweight” rating in a report on Wednesday, October 8th. Barclays upped their price objective on shares of Dell Technologies from $133.00 to $151.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 8th. Finally, Bank of America raised their target price on Dell Technologies from $167.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, Dell Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $162.80.

Dell Technologies Trading Down 1.8%

The company has a fifty day moving average of $142.46 and a 200-day moving average of $127.13. The company has a market capitalization of $98.46 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 1.00 and a beta of 1.02.

Dell Technologies (NYSE:DELL) last announced its earnings results on Thursday, October 5th. The technology company reported $1.68 EPS for the quarter. The business had revenue of $26.43 billion during the quarter. Dell Technologies had a negative return on equity of 236.21% and a net margin of 4.73%. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. As a group, equities research analysts expect that Dell Technologies Inc. will post 6.93 EPS for the current year.

Dell Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, October 21st were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, October 21st. Dell Technologies’s payout ratio is 30.88%.

Insider Buying and Selling at Dell Technologies

In related news, Director Ellen Jamison Kullman sold 79,806 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $153.56, for a total transaction of $12,255,009.36. Following the completion of the sale, the director owned 65,662 shares of the company’s stock, valued at approximately $10,083,056.72. This represents a 54.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 499,999 shares of the stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $161.48, for a total transaction of $80,739,838.52. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 4,587,755 shares of company stock valued at $649,644,973. 42.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dell Technologies

Large investors have recently made changes to their positions in the stock. Winnow Wealth LLC acquired a new position in Dell Technologies during the second quarter worth $25,000. N.E.W. Advisory Services LLC purchased a new position in shares of Dell Technologies during the 1st quarter worth $26,000. Cheviot Value Management LLC acquired a new position in shares of Dell Technologies during the 1st quarter valued at about $27,000. Flaharty Asset Management LLC acquired a new position in shares of Dell Technologies during the 1st quarter valued at about $27,000. Finally, Westside Investment Management Inc. grew its holdings in shares of Dell Technologies by 84.7% in the second quarter. Westside Investment Management Inc. now owns 218 shares of the technology company’s stock valued at $27,000 after purchasing an additional 100 shares during the period. 76.37% of the stock is currently owned by hedge funds and other institutional investors.

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).