Dell Technologies (NYSE:DELL) Trading Down 3.5% – Time to Sell?

Dell Technologies Inc. (NYSE:DELL) dropped 3.5% during trading on Tuesday . The company traded as low as $153.31 and last traded at $154.4350. Approximately 5,240,050 shares changed hands during mid-day trading, a decline of 27% from the average daily volume of 7,154,218 shares. The stock had previously closed at $160.11.

Analyst Ratings Changes

Several research firms have recently issued reports on DELL. Raymond James Financial lifted their price objective on shares of Dell Technologies from $152.00 to $161.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Citigroup lifted their price target on Dell Technologies from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. TD Cowen upped their price target on shares of Dell Technologies from $130.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, October 8th. Argus raised their price objective on shares of Dell Technologies from $150.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, October 9th. Finally, Evercore ISI set a $180.00 target price on Dell Technologies and gave the company an “outperform” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $162.80.

Dell Technologies Trading Down 3.5%

The firm has a market cap of $103.84 billion, a P/E ratio of 22.71, a P/E/G ratio of 1.11 and a beta of 1.02. The business has a 50-day moving average price of $140.82 and a 200-day moving average price of $125.56.

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

Dell Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, October 21st were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Tuesday, October 21st. This represents a $2.10 dividend on an annualized basis and a yield of 1.4%. Dell Technologies’s dividend payout ratio is presently 30.88%.

Insider Activity

In other Dell Technologies news, Director William D. Green sold 42,736 shares of the business’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $160.00, for a total transaction of $6,837,760.00. Following the sale, the director owned 47,619 shares of the company’s stock, valued at approximately $7,619,040. The trade was a 47.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ellen Jamison Kullman sold 79,806 shares of the firm’s stock in a transaction on 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 directly owned 65,662 shares of the company’s stock, valued at approximately $10,083,056.72. This represents a 54.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 4,587,755 shares of company stock worth $649,644,973. Company insiders own 42.00% of the company’s stock.

Institutional Trading of Dell Technologies

A number of hedge funds have recently modified their holdings of DELL. Ashton Thomas Private Wealth LLC lifted its holdings in Dell Technologies by 29.0% in the third quarter. Ashton Thomas Private Wealth LLC now owns 3,834 shares of the technology company’s stock valued at $544,000 after acquiring an additional 862 shares during the period. Penserra Capital Management LLC grew its position in shares of Dell Technologies by 28.4% during the 3rd quarter. Penserra Capital Management LLC now owns 19,334 shares of the technology company’s stock valued at $2,739,000 after acquiring an additional 4,280 shares during the period. Adell Harriman & Carpenter Inc. grew its holdings in Dell Technologies by 73.4% in the third quarter. Adell Harriman & Carpenter Inc. now owns 29,728 shares of the technology company’s stock valued at $4,215,000 after purchasing an additional 12,580 shares during the period. Westside Investment Management Inc. grew its position in shares of Dell Technologies by 35.8% in the third quarter. Westside Investment Management Inc. now owns 296 shares of the technology company’s stock valued at $43,000 after purchasing an additional 78 shares during the period. Finally, Raleigh Capital Management Inc. raised its holdings in shares of Dell Technologies by 1,540.4% during the third quarter. Raleigh Capital Management Inc. now owns 935 shares of the technology company’s stock valued at $132,000 after acquiring an additional 878 shares during the last quarter. Hedge funds and other institutional investors own 76.37% 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).