Dell Technologies (NYSE:DELL) Trading 3.6% Higher - Here's What Happened

Dell Technologies Inc. (NYSE:DELL - Get Free Report)'s stock price shot up 3.6% during trading on Tuesday . The stock traded as high as $79.46 and last traded at $77.70. 3,940,103 shares changed hands during trading, a decline of 62% from the average session volume of 10,274,785 shares. The stock had previously closed at $75.00.

Analyst Ratings Changes

DELL has been the subject of several research analyst reports. UBS Group dropped their price objective on Dell Technologies from $158.00 to $150.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Bank of America cut their price target 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. Citigroup lowered their price objective on shares of Dell Technologies from $156.00 to $145.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. OTR Global upgraded shares of Dell Technologies from a "negative" rating to a "positive" rating in a research report on Wednesday, February 12th. Finally, The Goldman Sachs Group dropped their price objective on shares of Dell Technologies from $165.00 to $145.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $141.24.

Dell Technologies Price Performance

The stock has a market cap of $57.19 billion, a price-to-earnings ratio of 14.48, a price-to-earnings-growth ratio of 1.10 and a beta of 0.94. The firm's 50-day moving average is $98.16 and its 200 day moving average is $113.41.

Dell Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Tuesday, April 22nd will be given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Tuesday, April 22nd. This is an increase from Dell Technologies's previous quarterly dividend of $0.45. Dell Technologies's payout ratio is 33.76%.

Insider Transactions at Dell Technologies

In other news, Director Radakovich Lynn Vojvodich sold 725 shares of the firm's stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $120.00, for a total value of $87,000.00. Following the transaction, the director now owns 23,680 shares of the company's stock, valued at approximately $2,841,600. This trade represents a 2.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Brunilda Rios sold 926 shares of the company's 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 sale, the chief accounting officer now directly owns 37,948 shares of the company's stock, valued at approximately $3,540,168.92. This trade represents a 2.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 46.70% of the company's stock.

Hedge Funds Weigh In On Dell Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Dell Technologies by 10.5% in the fourth quarter. Vanguard Group Inc. now owns 27,960,560 shares of the technology company's stock valued at $3,222,175,000 after purchasing an additional 2,662,407 shares during the period. Capital World Investors boosted its position in Dell Technologies by 0.6% in the 4th quarter. Capital World Investors now owns 12,460,949 shares of the technology company's stock valued at $1,436,000,000 after buying an additional 72,271 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Dell Technologies by 8.7% during the fourth quarter. Geode Capital Management LLC now owns 6,870,042 shares of the technology company's stock worth $789,680,000 after acquiring an additional 552,213 shares during the last quarter. Norges Bank acquired a new position in shares of Dell Technologies in the fourth quarter worth about $455,029,000. Finally, Northern Trust Corp boosted its holdings in Dell Technologies by 16.1% in the fourth quarter. Northern Trust Corp now owns 3,317,258 shares of the technology company's stock valued at $382,281,000 after purchasing an additional 460,483 shares during the last quarter. 76.37% of the stock is owned by institutional investors and hedge funds.

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).