Dell Technologies (NYSE:DELL) Trading Down 3.8% After Insider Selling

Dell Technologies Inc. (NYSE:DELL) shares dropped 3.8% during trading on Tuesday following insider selling activity. The stock traded as low as $113.52 and last traded at $113.98. Approximately 3,759,669 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 10,679,455 shares. The stock had previously closed at $118.54.

Specifically, CEO Michael S. Dell sold 10,000,000 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $122.40, for a total value of $1,224,000,000.00. Following the transaction, the chief executive officer now owns 16,912,241 shares of the company’s stock, valued at $2,070,058,298.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Fox Advisors raised shares of Dell Technologies from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 30th. JPMorgan Chase & Co. raised their price target on Dell Technologies from $155.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Raymond James reduced their price target on Dell Technologies from $166.00 to $160.00 and set an “outperform” rating on the stock in a research report on Friday, August 30th. Sanford C. Bernstein decreased their target price on shares of Dell Technologies from $155.00 to $140.00 and set an “outperform” rating on the stock in a research note on Friday, August 30th. Finally, Citigroup lifted their price objective on Dell Technologies from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $143.50.

Dell Technologies Stock Down 3.8 %

The stock’s fifty day simple moving average is $110.17 and its two-hundred day simple moving average is $124.61. The firm has a market cap of $80.85 billion, a PE ratio of 23.26, a PEG ratio of 1.25 and a beta of 0.90.

Dell Technologies (NYSE:DELL) last announced its quarterly earnings data on Thursday, August 29th. The technology company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Dell Technologies had a net margin of 4.32% and a negative return on equity of 178.09%. The company had revenue of $25.03 billion during the quarter, compared to analyst estimates of $24.14 billion. During the same period in the previous year, the business earned $1.44 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts anticipate that Dell Technologies Inc. will post 6.9 earnings per share for the current fiscal year.

Dell Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 22nd will be issued a $0.445 dividend. The ex-dividend date is Tuesday, October 22nd. This represents a $1.78 annualized dividend and a yield of 1.56%. Dell Technologies’s payout ratio is 36.33%.

Hedge Funds Weigh In On Dell Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Accordant Advisory Group Inc purchased a new position in shares of Dell Technologies during the second quarter valued at approximately $28,000. Massmutual Trust Co. FSB ADV raised 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 valued at $25,000 after buying an additional 82 shares during the last quarter. Nemes Rush Group LLC bought a new position in shares of Dell Technologies during the 2nd quarter valued at $33,000. Crewe Advisors LLC purchased a new position in shares of Dell Technologies in the 2nd quarter worth $34,000. Finally, New Covenant Trust Company N.A. purchased a new stake in Dell Technologies during the first quarter valued at $30,000. Institutional investors own 38.10% 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).