Dell Technologies (NYSE:DELL) Stock Price Down 3.5% - Here's What Happened

Dell Technologies Inc. (NYSE:DELL - Get Free Report)'s stock price dropped 3.5% during trading on Monday . The stock traded as low as $82.41 and last traded at $81.85. Approximately 1,103,633 shares changed hands during trading, a decline of 87% from the average daily volume of 8,807,749 shares. The stock had previously closed at $84.80.

Wall Street Analyst Weigh In

Several research firms recently commented on DELL. OTR Global raised shares of Dell Technologies from a "negative" rating to a "positive" rating in a research note on Wednesday, February 12th. Bank of America reduced their target price on Dell Technologies from $155.00 to $150.00 and set a "buy" rating for the company in a research note on Tuesday, February 18th. JPMorgan Chase & Co. reduced their price objective on Dell Technologies from $150.00 to $108.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Barclays increased their price target on shares of Dell Technologies from $115.00 to $116.00 and gave the stock an "equal weight" rating in a report on Friday, February 28th. Finally, UBS Group cut their price objective on shares of Dell Technologies from $158.00 to $150.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $136.41.

Dell Technologies Stock Up 3.5 %

The firm's 50 day moving average is $94.19 and its two-hundred day moving average is $111.60. The company has a market cap of $64.42 billion, a P/E ratio of 16.31, a PEG ratio of 1.10 and a beta of 0.94.

Dell Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Tuesday, April 22nd will be paid a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Tuesday, April 22nd. This is a boost from Dell Technologies's previous quarterly dividend of $0.45. Dell Technologies's dividend payout ratio (DPR) is 33.76%.

Insiders Place Their Bets

In other Dell Technologies news, CAO Brunilda Rios sold 926 shares of the stock in a transaction on Friday, March 28th. The stock was sold at an average price of $93.29, for a total transaction of $86,386.54. Following the completion of the transaction, the chief accounting officer now directly owns 37,948 shares of the company's stock, valued at approximately $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 accessible through this link. 46.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dell Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. KG&L Capital Management LLC boosted its holdings in Dell Technologies by 92.6% in the 1st quarter. KG&L Capital Management LLC now owns 9,419 shares of the technology company's stock valued at $859,000 after purchasing an additional 4,528 shares during the period. Creative Financial Designs Inc. ADV raised its stake in shares of Dell Technologies by 124.7% during the first quarter. Creative Financial Designs Inc. ADV now owns 1,027 shares of the technology company's stock worth $94,000 after acquiring an additional 570 shares in the last quarter. Alpine Bank Wealth Management purchased a new position in Dell Technologies in the 1st quarter worth approximately $48,000. HBK Sorce Advisory LLC grew its holdings in shares of Dell Technologies by 17.6% in the first quarter. HBK Sorce Advisory LLC now owns 2,351 shares of the technology company's stock worth $214,000 after purchasing an additional 352 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in Dell Technologies by 222.7% in the first quarter. Golden State Wealth Management LLC now owns 9,206 shares of the technology company's stock worth $839,000 after purchasing an additional 6,353 shares in the last quarter. 76.37% of the stock is 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).