Dell Technologies (NYSE:DELL) Shares Down 1.8% – Time to Sell?

Dell Technologies Inc. (NYSE:DELL)’s stock price fell 1.8% during trading on Friday . The company traded as low as $143.08 and last traded at $146.4380. 5,764,942 shares traded hands during mid-day trading, a decline of 19% from the average session volume of 7,138,958 shares. The stock had previously closed at $149.18.

Analysts Set New Price Targets

Several research firms recently weighed in on DELL. Zacks Research upgraded Dell Technologies from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Cowen reiterated a “hold” rating on shares of Dell Technologies in a report on Friday, August 29th. Wells Fargo & Company raised their target price on shares of Dell Technologies from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on shares of Dell Technologies from $145.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 8th. Finally, Piper Sandler initiated coverage on shares of Dell Technologies in a report on Tuesday, October 21st. They issued an “overweight” rating and a $172.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $162.80.

Dell Technologies Price Performance

The business’s 50-day simple moving average is $141.98 and its two-hundred day simple moving average is $126.39. The stock has a market capitalization of $98.46 billion, a price-to-earnings ratio of 21.54, a PEG ratio of 1.04 and a beta of 1.02.

Dell Technologies (NYSE:DELL) last issued 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 for the quarter. Dell Technologies had a net margin of 4.73% and a negative return on equity of 236.21%. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. As a group, sell-side analysts expect that Dell Technologies Inc. will post 6.93 EPS for the current year.

Dell Technologies Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date was Tuesday, October 21st. Dell Technologies’s payout ratio is currently 30.88%.

Insider Buying and Selling

In other news, Director Ellen Jamison Kullman sold 79,806 shares of the stock in a transaction dated Wednesday, October 15th. The stock was 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 can be accessed through this link. Also, Director Iv (Gp) L.L.C. Slta sold 499,999 shares of the business’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $161.48, for a total value of $80,739,838.52. The disclosure for this sale is available in the SEC filing. 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 insiders.

Hedge Funds Weigh In On Dell Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. Brighton Jones LLC boosted its stake in Dell Technologies by 42.7% during the 4th quarter. Brighton Jones LLC now owns 3,011 shares of the technology company’s stock valued at $347,000 after acquiring an additional 901 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of Dell Technologies by 9.2% in the 1st quarter. D.A. Davidson & CO. now owns 6,782 shares of the technology company’s stock valued at $618,000 after purchasing an additional 569 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in shares of Dell Technologies by 11.4% during the first quarter. OneDigital Investment Advisors LLC now owns 5,004 shares of the technology company’s stock worth $456,000 after purchasing an additional 512 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in Dell Technologies by 56.5% in the first quarter. Concurrent Investment Advisors LLC now owns 6,184 shares of the technology company’s stock worth $564,000 after purchasing an additional 2,232 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Dell Technologies by 24.0% in the first quarter. Envestnet Asset Management Inc. now owns 702,560 shares of the technology company’s stock worth $64,038,000 after purchasing an additional 136,069 shares in the last quarter. 76.37% of the stock is currently 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).