Dell Technologies (NYSE:DELL) Trading 3.1% Higher - Here's Why

Dell Technologies Inc. (NYSE:DELL - Get Free Report)'s stock price rose 3.1% on Wednesday . The stock traded as high as $99.84 and last traded at $99.45. Approximately 1,307,389 shares changed hands during trading, a decline of 87% from the average daily volume of 10,070,535 shares. The stock had previously closed at $96.44.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Dell Technologies from $144.00 to $142.00 and set a "buy" rating on the stock in a report on Monday, December 2nd. 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. Barclays raised their price objective on Dell Technologies from $115.00 to $116.00 and gave the company an "equal weight" rating in a report on Friday, February 28th. JPMorgan Chase & Co. reduced their target price on Dell Technologies from $160.00 to $150.00 and set an "overweight" rating for the company in a research note on Tuesday, February 11th. Finally, OTR Global raised shares of Dell Technologies from a "negative" rating to a "positive" rating in a research note on Wednesday, February 12th. Three investment 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, the company presently has an average rating of "Moderate Buy" and an average price target of $141.24.

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Dell Technologies Price Performance

The stock has a market capitalization of $68.38 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 1.10 and a beta of 0.83. The business has a fifty day moving average of $105.59 and a 200 day moving average of $116.61.

Dell Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Tuesday, April 22nd will be given a $0.525 dividend. The ex-dividend date is Tuesday, April 22nd. This represents a $2.10 dividend on an annualized basis and a yield of 2.15%. This is a boost from Dell Technologies's previous quarterly dividend of $0.45. Dell Technologies's dividend payout ratio is presently 33.76%.

Insider Buying and Selling at Dell Technologies

In other news, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of Dell Technologies stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $119.73, for a total value 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 approximately $97,059,962.61. The trade was a 38.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director V (Gp) L.L.C. Slta sold 325,167 shares of the firm's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $124.52, for a total value of $40,489,794.84. Following the transaction, the director now owns 810,657 shares of the company's stock, valued at $100,943,009.64. This trade represents a 28.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 824,937 shares of company stock worth $100,327,453 over the last three months. Insiders own 46.70% of the company's stock.

Institutional Investors Weigh In On Dell Technologies

Hedge funds have recently added to or reduced their stakes in the business. Burns J W & Co. Inc. NY acquired a new stake in shares of Dell Technologies in the fourth quarter valued at $1,272,000. iA Global Asset Management Inc. increased its holdings in Dell Technologies by 84.7% during the 3rd quarter. iA Global Asset Management Inc. now owns 11,345 shares of the technology company's stock worth $1,345,000 after purchasing an additional 5,203 shares during the period. Sky Investment Group LLC purchased a new position in shares of Dell Technologies in the 4th quarter valued at about $1,687,000. Enclave Advisors LLC purchased a new position in shares of Dell Technologies in the 4th quarter valued at about $848,000. Finally, Empowered Funds LLC increased its stake in shares of Dell Technologies by 12.9% during the fourth quarter. Empowered Funds LLC now owns 30,388 shares of the technology company's stock worth $3,502,000 after buying an additional 3,470 shares during the period. 76.37% of the stock is currently owned by institutional investors and hedge funds.

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).