Dell Technologies (NYSE:DELL) Shares Gap Up – Here’s What Happened

Dell Technologies Inc. (NYSE:DELL) gapped up prior to trading on Wednesday . The stock had previously closed at $111.11, but opened at $116.85. Dell Technologies shares last traded at $119.11, with a volume of 3,455,293 shares.

Analysts Set New Price Targets

A number of equities analysts have weighed in on DELL shares. Barclays upped their price objective on shares of Dell Technologies from $106.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Citigroup dropped their price objective on shares of Dell Technologies from $160.00 to $156.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Morgan Stanley increased their price target on Dell Technologies from $136.00 to $154.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Melius Research upped their price objective on Dell Technologies from $140.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Finally, Mizuho dropped their price target on shares of Dell Technologies from $155.00 to $150.00 and set an “outperform” rating for the company in a research report on Wednesday, November 27th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $148.06.

Dell Technologies Trading Up 4.6 %

The firm’s fifty day simple moving average is $121.92 and its 200 day simple moving average is $119.70. The company has a market cap of $81.40 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 1.16 and a beta of 0.92.

Dell Technologies (NYSE:DELL) last posted its quarterly earnings results on Tuesday, November 26th. The technology company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.32. The company had revenue of $24.37 billion for the quarter, compared to analysts’ expectations of $24.67 billion. Dell Technologies had a negative return on equity of 191.91% and a net margin of 4.36%. Dell Technologies’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period last year, the firm earned $1.62 earnings per share. As a group, sell-side analysts expect that Dell Technologies Inc. will post 6.92 EPS for the current year.

Dell Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 22nd will be paid a $0.445 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $1.78 annualized dividend and a yield of 1.53%. Dell Technologies’s dividend payout ratio is currently 31.45%.

Insiders Place Their Bets

In other news, Director Radakovich Lynn Vojvodich sold 725 shares of Dell Technologies stock in a transaction on Friday, November 15th. The shares were sold at an average price of $132.28, for a total value of $95,903.00. Following the transaction, the director now directly owns 23,680 shares of the company’s stock, valued at $3,132,390.40. The trade was a 2.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $119.73, for a total transaction of $59,750,657.85. Following the sale, the director now owns 810,657 shares of the company’s stock, valued at approximately $97,059,962.61. This represents a 38.10 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 945,407 shares of company stock valued at $115,573,009. 46.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dell Technologies

Several large investors have recently modified their holdings of the stock. Amalgamated Bank acquired a new stake in shares of Dell Technologies in the 2nd quarter worth $1,941,000. EverSource Wealth Advisors LLC lifted its position in Dell Technologies by 97.2% in the second quarter. EverSource Wealth Advisors LLC now owns 428 shares of the technology company’s stock valued at $59,000 after purchasing an additional 211 shares during the period. Magnetar Financial LLC purchased a new stake in Dell Technologies in the 2nd quarter valued at approximately $2,717,000. Lombard Odier Asset Management USA Corp purchased a new position in shares of Dell Technologies during the 2nd quarter worth approximately $248,000. Finally, Bank of Montreal Can boosted its position in shares of Dell Technologies by 383.2% during the 2nd quarter. Bank of Montreal Can now owns 368,695 shares of the technology company’s stock worth $51,772,000 after purchasing an additional 292,393 shares in the last quarter. Hedge funds and other institutional investors 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).