Dell Technologies (NYSE:DELL) Shares Gap Up – Here’s Why

Dell Technologies Inc. (NYSE:DELL) shares gapped up prior to trading on Wednesday . The stock had previously closed at $111.11, but opened at $116.85. Dell Technologies shares last traded at $119.11, with a volume of 3,455,293 shares.

Analyst Ratings Changes

DELL has been the topic of several research analyst reports. Melius Research increased their price target on shares of Dell Technologies from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Mizuho reduced their target price on Dell Technologies from $155.00 to $150.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Citigroup lowered their price target on Dell Technologies from $160.00 to $156.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft reduced their price objective on Dell Technologies from $144.00 to $142.00 and set a “buy” rating on the stock in a research note on Monday, December 2nd. Finally, Barclays boosted their target price on shares of Dell Technologies from $106.00 to $115.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Dell Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.06.

Dell Technologies Stock Performance

The business has a fifty day moving average of $121.53 and a 200-day moving average of $119.67. The firm has a market capitalization of $80.04 billion, a P/E ratio of 20.19, a price-to-earnings-growth ratio of 1.22 and a beta of 0.92.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings results on Tuesday, November 26th. The technology company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.32. The company had revenue of $24.37 billion for the quarter, compared to analyst estimates of $24.67 billion. Dell Technologies had a negative return on equity of 191.91% and a net margin of 4.36%. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the company earned $1.62 earnings per share. On average, equities research analysts forecast that Dell Technologies Inc. will post 6.92 earnings per share for the current fiscal year.

Dell Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Wednesday, January 22nd will be issued a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Wednesday, January 22nd. Dell Technologies’s dividend payout ratio (DPR) is presently 31.45%.

Insider Buying and Selling

In related news, Director Radakovich Lynn Vojvodich sold 725 shares of Dell Technologies stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $132.28, for a total transaction of $95,903.00. Following the transaction, the director now directly owns 23,680 shares of the company’s stock, valued at $3,132,390.40. The trade was a 2.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $119.73, for a total transaction of $59,750,657.85. Following the completion of the sale, the director now directly owns 810,657 shares of the company’s stock, valued at $97,059,962.61. The trade was a 38.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 945,407 shares of company stock valued at $115,573,009 over the last quarter. Corporate insiders own 46.70% of the company’s stock.

Institutional Investors Weigh In On Dell Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Amalgamated Bank acquired a new position in shares of Dell Technologies in the 2nd quarter worth $1,941,000. EverSource Wealth Advisors LLC raised its holdings in shares of Dell Technologies by 97.2% during the second quarter. EverSource Wealth Advisors LLC now owns 428 shares of the technology company’s stock valued at $59,000 after acquiring an additional 211 shares during the period. Bank of Montreal Can lifted its position in shares of Dell Technologies by 383.2% in the 2nd quarter. Bank of Montreal Can now owns 368,695 shares of the technology company’s stock valued at $51,772,000 after acquiring an additional 292,393 shares in the last quarter. Xponance Inc. boosted its stake in Dell Technologies by 121.6% in the 2nd quarter. Xponance Inc. now owns 24,995 shares of the technology company’s stock worth $3,447,000 after purchasing an additional 13,717 shares during the period. Finally, Marshall Wace LLP purchased a new position in Dell Technologies during the 2nd quarter worth approximately $470,000. Institutional investors and hedge funds own 76.37% of the company’s stock.

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).