Dell Technologies (NYSE:DELL) Stock Price Down 5.1% - Here's Why

Dell Technologies Inc. (NYSE:DELL - Get Free Report) dropped 5.1% during mid-day trading on Thursday . The company traded as low as $78.85 and last traded at $79.88. Approximately 2,765,992 shares traded hands during trading, a decline of 73% from the average daily volume of 10,305,957 shares. The stock had previously closed at $84.19.

Analysts Set New Price Targets

DELL has been the topic of several research analyst reports. Barclays lifted their price target on shares of Dell Technologies from $115.00 to $116.00 and gave the stock an "equal weight" rating in a research note on Friday, February 28th. JPMorgan Chase & Co. lowered their target price on shares of Dell Technologies from $160.00 to $150.00 and set an "overweight" rating on the stock in a report on Tuesday, February 11th. Bank of America dropped their price objective on Dell Technologies from $155.00 to $150.00 and set a "buy" rating on the stock in a report on Tuesday, February 18th. 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 research report on Thursday, February 13th. Finally, TD Cowen dropped their price objective on Dell Technologies from $128.00 to $120.00 and set a "hold" rating for the company in a research note on Friday, February 28th. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Dell Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $138.88.

Remove Ads

Dell Technologies Trading Up 4.0 %

The stock has a market cap of $59.47 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 1.10 and a beta of 0.94. The firm has a fifty day simple moving average of $98.16 and a 200 day simple moving average of $113.31.

Dell Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Tuesday, April 22nd will be issued a $0.525 dividend. The ex-dividend date is Tuesday, April 22nd. This is a boost from Dell Technologies's previous quarterly dividend of $0.45. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.46%. Dell Technologies's dividend payout ratio is presently 33.76%.

Insider Transactions at Dell Technologies

In related news, CAO Brunilda Rios sold 926 shares of the firm's stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $93.29, for a total value of $86,386.54. Following the transaction, the chief accounting officer now owns 37,948 shares in the company, valued at $3,540,168.92. This trade represents a 2.38 % 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 Radakovich Lynn Vojvodich sold 725 shares of the firm's stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $120.00, for a total transaction of $87,000.00. Following the completion of the transaction, the director now directly owns 23,680 shares in the company, valued at approximately $2,841,600. The trade was a 2.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 46.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Dell Technologies by 10.5% in the 4th quarter. Vanguard Group Inc. now owns 27,960,560 shares of the technology company's stock valued at $3,222,175,000 after acquiring an additional 2,662,407 shares during the period. Capital World Investors lifted its holdings in shares of Dell Technologies by 0.6% during the fourth quarter. Capital World Investors now owns 12,460,949 shares of the technology company's stock worth $1,436,000,000 after buying an additional 72,271 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Dell Technologies by 8.7% during the 4th quarter. Geode Capital Management LLC now owns 6,870,042 shares of the technology company's stock worth $789,680,000 after purchasing an additional 552,213 shares in the last quarter. Norges Bank bought a new position in Dell Technologies during the 4th quarter worth $455,029,000. Finally, Northern Trust Corp raised its stake 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 in the last quarter. Institutional investors and hedge funds own 76.37% of the company's stock.

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).