Dell Technologies (NYSE:DELL) Trading Down 1.6% - Here's Why

Dell Technologies Inc. (NYSE:DELL - Get Free Report) was down 1.6% during trading on Wednesday . The company traded as low as $82.74 and last traded at $84.12. Approximately 1,651,355 shares were traded during trading, a decline of 81% from the average daily volume of 8,891,598 shares. The stock had previously closed at $85.49.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DELL. Loop Capital cut their price objective on Dell Technologies from $185.00 to $130.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Morgan Stanley reduced their price target on shares of Dell Technologies from $154.00 to $128.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Citigroup cut their price objective on shares of Dell Technologies from $145.00 to $105.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company dropped their price target on Dell Technologies from $160.00 to $150.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th. Finally, Bank of America reduced their price objective on Dell Technologies from $155.00 to $150.00 and set a "buy" rating for the company in a research report on Tuesday, February 18th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $136.41.

Dell Technologies Price Performance

The stock has a market capitalization of $59.22 billion, a P/E ratio of 14.99, a PEG ratio of 1.10 and a beta of 0.94. The stock's 50-day simple moving average is $95.82 and its 200 day simple moving average is $112.24.

Dell Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Tuesday, April 22nd will be paid a $0.525 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.10 dividend on an annualized basis and a yield of 2.47%. This is a positive change from Dell Technologies's previous quarterly dividend of $0.45. Dell Technologies's dividend payout ratio is 33.76%.

Insider Buying and Selling

In other Dell Technologies news, Director Radakovich Lynn Vojvodich sold 725 shares of Dell Technologies stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $120.00, for a total value of $87,000.00. Following the completion of the sale, the director now owns 23,680 shares in the company, valued at $2,841,600. The trade was a 2.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Brunilda Rios sold 926 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 37,948 shares in the company, valued at approximately $3,540,168.92. The trade was a 2.38 % decrease in their position. The disclosure for this sale can be found here. 46.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dell Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Wealth Management LLC raised its stake in Dell Technologies by 20.4% in the first quarter. Cornerstone Wealth Management LLC now owns 8,943 shares of the technology company's stock valued at $815,000 after purchasing an additional 1,518 shares in the last quarter. GSB Wealth Management LLC acquired a new position in shares of Dell Technologies in the 1st quarter valued at approximately $637,000. PKO Investment Management Joint Stock Co bought a new stake in shares of Dell Technologies during the 1st quarter worth approximately $2,279,000. FNY Investment Advisers LLC boosted its position in shares of Dell Technologies by 1,900.0% during the 1st quarter. FNY Investment Advisers LLC now owns 2,000 shares of the technology company's stock worth $182,000 after acquiring an additional 1,900 shares in the last quarter. Finally, QRG Capital Management Inc. raised its position in Dell Technologies by 135.6% during the first quarter. QRG Capital Management Inc. now owns 64,722 shares of the technology company's stock valued at $5,899,000 after purchasing an additional 37,250 shares in 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).