Ellen Jamison Kullman Sells 79,806 Shares of Dell Technologies (NYSE:DELL) Stock

Dell Technologies Inc. (NYSE:DELL) Director Ellen Jamison Kullman sold 79,806 shares of Dell Technologies stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $153.56, for a total value of $12,255,009.36. Following the completion of the sale, the director owned 65,662 shares in the company, valued at approximately $10,083,056.72. This trade represents a 54.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Dell Technologies Price Performance

Dell Technologies stock opened at $149.57 on Friday. Dell Technologies Inc. has a 1-year low of $66.25 and a 1-year high of $166.10. The company has a market cap of $100.57 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 1.02 and a beta of 1.05. The stock’s 50 day moving average price is $135.90 and its 200 day moving average price is $118.97.

Dell Technologies (NYSE:DELL) last posted its quarterly earnings results on Thursday, October 5th. The technology company reported $1.68 earnings per share for the quarter. The firm had revenue of $26.43 billion for 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. On average, equities research analysts anticipate that Dell Technologies Inc. will post 6.93 EPS for the current fiscal year.

Dell Technologies Announces Dividend

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

Institutional Trading of Dell Technologies

Several institutional investors and hedge funds have recently made changes to their positions in DELL. Exchange Traded Concepts LLC lifted its position in Dell Technologies by 25.9% during the first quarter. Exchange Traded Concepts LLC now owns 2,460 shares of the technology company’s stock worth $224,000 after buying an additional 506 shares during the period. First Hawaiian Bank lifted its position in Dell Technologies by 67.1% during the first quarter. First Hawaiian Bank now owns 34,878 shares of the technology company’s stock worth $3,179,000 after buying an additional 14,010 shares during the period. Carolina Wealth Advisors LLC purchased a new position in Dell Technologies during the second quarter worth about $8,869,000. Mather Group LLC. lifted its position in Dell Technologies by 113.3% during the first quarter. Mather Group LLC. now owns 1,043 shares of the technology company’s stock worth $95,000 after buying an additional 554 shares during the period. Finally, Westbourne Investments Inc. lifted its position in Dell Technologies by 167.5% during the first quarter. Westbourne Investments Inc. now owns 21,808 shares of the technology company’s stock worth $1,988,000 after buying an additional 13,657 shares during the period. 76.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on DELL. Fox Advisors downgraded Dell Technologies from an “overweight” rating to an “equal weight” rating in a research report on Friday, August 29th. Mizuho boosted their target price on Dell Technologies from $160.00 to $170.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 8th. Raymond James Financial boosted their target price on Dell Technologies from $150.00 to $152.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Barclays boosted their target price on 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, Wall Street Zen upgraded Dell Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, September 13th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Dell Technologies presently has an average rating of “Moderate Buy” and an average target price of $160.79.

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).