Dell Technologies (NYSE:DELL) Shares Gap Up to $120.63

Shares of Dell Technologies Inc. (NYSE:DELL) gapped up before the market opened on Wednesday . The stock had previously closed at $120.63, but opened at $126.01. Dell Technologies shares last traded at $121.88, with a volume of 1,889,654 shares changing hands.

Wall Street Analysts Forecast Growth

DELL has been the topic of several recent research reports. Barclays increased their target price on shares of Dell Technologies from $53.00 to $94.00 and gave the company an “underweight” rating in a report on Friday, March 1st. TD Cowen increased their price target on shares of Dell Technologies from $75.00 to $105.00 and gave the company a “market perform” rating in a research report on Friday, March 1st. Loop Capital initiated coverage on shares of Dell Technologies in a research report on Wednesday, February 28th. They issued a “buy” rating and a $125.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of Dell Technologies from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Finally, UBS Group raised their target price on shares of Dell Technologies from $113.00 to $141.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Dell Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $104.63.

Dell Technologies Price Performance

The firm’s 50-day moving average is $110.26 and its two-hundred day moving average is $87.21. The company has a market cap of $86.28 billion, a P/E ratio of 27.61, a PEG ratio of 1.46 and a beta of 0.92.

Dell Technologies (NYSE:DELL) last posted its quarterly earnings data on Thursday, February 29th. The technology company reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.47. Dell Technologies had a net margin of 3.63% and a negative return on equity of 172.07%. The business had revenue of $22.32 billion for the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter in the previous year, the business posted $1.55 earnings per share. The business’s revenue was down 10.9% compared to the same quarter last year. As a group, sell-side analysts expect that Dell Technologies Inc. will post 6.58 EPS for the current year.

Dell Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd will be paid a $0.445 dividend. The ex-dividend date is Monday, April 22nd. This is a positive change from Dell Technologies’s previous quarterly dividend of $0.37. This represents a $1.78 dividend on an annualized basis and a yield of 1.47%. Dell Technologies’s dividend payout ratio is 40.73%.

Insider Buying and Selling

In other news, CEO Michael S. Dell sold 1,944,641 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $108.79, for a total transaction of $211,557,494.39. Following the transaction, the chief executive officer now owns 33,412,241 shares in the company, valued at $3,634,917,698.39. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Michael S. Dell sold 1,944,641 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $108.79, for a total value of $211,557,494.39. Following the transaction, the chief executive officer now owns 33,412,241 shares in the company, valued at approximately $3,634,917,698.39. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Jennifer D. Saavedra sold 18,260 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $120.10, for a total transaction of $2,193,026.00. Following the sale, the insider now directly owns 206,961 shares in the company, valued at approximately $24,856,016.10. The disclosure for this sale can be found here. Insiders sold a total of 6,382,204 shares of company stock valued at $718,452,037 over the last three months. 48.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dell Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp acquired a new stake in Dell Technologies during the 4th quarter worth $25,000. Massmutual Trust Co. FSB ADV boosted its stake in Dell Technologies by 58.2% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 223 shares of the technology company’s stock worth $25,000 after purchasing an additional 82 shares during the last quarter. Anchor Investment Management LLC acquired a new stake in Dell Technologies during the 4th quarter worth $26,000. Pinnacle Bancorp Inc. boosted its stake in Dell Technologies by 96.9% during the 4th quarter. Pinnacle Bancorp Inc. now owns 382 shares of the technology company’s stock worth $29,000 after purchasing an additional 188 shares during the last quarter. Finally, Central Bank & Trust Co. acquired a new position in shares of Dell Technologies during the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 38.10% of the company’s stock.

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).