Dell Technologies (NYSE:DELL) Reaches New 52-Week High – What’s Next?

Dell Technologies Inc. (NYSE:DELL)’s stock price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $168.08 and last traded at $165.0140, with a volume of 517394 shares changing hands. The stock had previously closed at $162.01.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wells Fargo & Company lifted their target price on shares of Dell Technologies from $160.00 to $180.00 and gave the stock an “overweight” 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 report on Wednesday, October 8th. Evercore ISI boosted their price target on shares of Dell Technologies from $150.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, August 15th. TD Cowen boosted 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. Finally, Argus boosted their price target on shares of Dell Technologies from $150.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, October 9th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $161.80.

Dell Technologies Stock Performance

The stock’s fifty day moving average price is $140.24 and its 200-day moving average price is $125.03. The company has a market capitalization of $110.21 billion, a P/E ratio of 24.09, a PEG ratio of 1.11 and a beta of 1.02.

Dell Technologies (NYSE:DELL) last released its quarterly earnings results on Thursday, October 5th. The technology company reported $1.68 earnings per share for the quarter. The firm had revenue of $26.43 billion for 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, research analysts predict that Dell Technologies Inc. will post 6.93 EPS for the current fiscal year.

Dell Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, October 21st were given a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Tuesday, October 21st. Dell Technologies’s dividend payout ratio is presently 30.88%.

Insider Buying and Selling

In other Dell Technologies news, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of the stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $135.98, for a total transaction of $112,183,364.02. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director V (Gp) L.L.C. Slta sold 565,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $132.32, for a total transaction of $74,760,800.00. The SEC filing for this sale provides additional information. 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

Several large investors have recently made changes to their positions in the company. Armstrong Advisory Group Inc. raised its stake in Dell Technologies by 3.6% during the third quarter. Armstrong Advisory Group Inc. now owns 1,829 shares of the technology company’s stock worth $259,000 after buying an additional 63 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its stake in Dell Technologies by 2.3% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 3,559 shares of the technology company’s stock worth $504,000 after buying an additional 81 shares during the last quarter. Meeder Asset Management Inc. raised its stake in Dell Technologies by 33.7% during the third quarter. Meeder Asset Management Inc. now owns 325 shares of the technology company’s stock worth $46,000 after buying an additional 82 shares during the last quarter. Asset Dedication LLC grew its holdings in Dell Technologies by 2.0% in the second quarter. Asset Dedication LLC now owns 4,318 shares of the technology company’s stock worth $529,000 after purchasing an additional 84 shares during the period. Finally, HM Payson & Co. grew its holdings in Dell Technologies by 2.7% in the third quarter. HM Payson & Co. now owns 3,221 shares of the technology company’s stock worth $457,000 after purchasing an additional 85 shares during the period. Institutional investors and hedge funds 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).