Dell Technologies (NYSE:DELL) Shares Gap Down – Time to Sell?

Dell Technologies Inc. (NYSE:DELL) gapped down before the market opened on Monday . The stock had previously closed at $133.76, but opened at $124.00. Dell Technologies shares last traded at $124.36, with a volume of 5,395,906 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Daiwa Capital Markets boosted their target price on Dell Technologies from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 11th. Citigroup boosted their price objective on Dell Technologies from $160.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, October 8th. Barclays upped their price objective on shares of Dell Technologies from $133.00 to $151.00 and gave the company an “equal weight” rating in a report on Wednesday, October 8th. Mizuho lifted their target price on shares of Dell Technologies from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Dell Technologies in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $161.35.

Dell Technologies Stock Up 0.3%

The stock has a market capitalization of $82.57 billion, a P/E ratio of 18.06, a PEG ratio of 0.84 and a beta of 1.02. The company has a 50-day moving average price of $143.89 and a two-hundred day moving average price of $129.36.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings data on Thursday, October 5th. The technology company reported $1.68 EPS for the quarter. Dell Technologies had a net margin of 4.73% and a negative return on equity of 236.21%. The company had revenue of $26.43 billion during the quarter. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. On average, sell-side analysts expect that Dell Technologies Inc. will post 6.93 earnings per share for the current year.

Dell Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, October 21st were given a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Tuesday, October 21st. Dell Technologies’s dividend payout ratio (DPR) is 30.88%.

Insider Activity at Dell Technologies

In other news, Director Ellen Jamison Kullman sold 79,806 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $153.56, for a total transaction of $12,255,009.36. Following the completion of the transaction, the director owned 65,662 shares of the company’s stock, valued at approximately $10,083,056.72. The trade was a 54.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 499,999 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $161.48, for a total transaction of $80,739,838.52. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,537,755 shares of company stock valued at $642,644,973 in the last ninety days. 42.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dell Technologies

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Dell Technologies by 3.3% in the third quarter. Vanguard Group Inc. now owns 30,085,610 shares of the technology company’s stock worth $4,265,237,000 after acquiring an additional 964,080 shares in the last quarter. State Street Corp lifted its stake in Dell Technologies by 2.5% during the third quarter. State Street Corp now owns 14,450,258 shares of the technology company’s stock worth $2,048,613,000 after purchasing an additional 350,941 shares during the last quarter. Boston Partners boosted its holdings in shares of Dell Technologies by 15.0% in the 2nd quarter. Boston Partners now owns 5,904,843 shares of the technology company’s stock worth $725,586,000 after purchasing an additional 771,966 shares in the last quarter. Invesco Ltd. increased its position in shares of Dell Technologies by 82.3% during the 3rd quarter. Invesco Ltd. now owns 4,855,154 shares of the technology company’s stock valued at $688,315,000 after purchasing an additional 2,191,317 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Dell Technologies during the 2nd quarter valued at about $528,279,000. 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).