Dell Technologies (NYSE:DELL) Shares Down 3.5% – What’s Next?

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

Wall Street Analysts Forecast Growth

DELL has been the subject of several analyst reports. Evercore ISI set a $180.00 price objective on Dell Technologies and gave the stock an “outperform” rating in a research report on Monday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Dell Technologies in a research report on Wednesday, October 8th. Mizuho increased their target price on Dell Technologies from $160.00 to $170.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 8th. Raymond James Financial lifted their target price on Dell Technologies from $152.00 to $161.00 and gave the company an “outperform” rating in a research report on Tuesday, October 21st. Finally, Fox Advisors cut shares of Dell Technologies from an “overweight” rating to an “equal weight” rating in a research report on Friday, August 29th. One 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 company. According to data from MarketBeat.com, the company presently 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 50 day moving average price of $140.82 and a 200-day moving average price of $125.56. The firm has a market cap of $103.84 billion, a PE ratio of 22.71, a PEG ratio of 1.11 and a beta of 1.02.

Dell Technologies (NYSE:DELL) last announced its quarterly earnings data on Thursday, October 5th. The technology company reported $1.68 earnings per share for the quarter. The business 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. Equities analysts forecast that Dell Technologies Inc. will post 6.93 earnings per share for the current fiscal year.

Dell Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Tuesday, October 21st were given a $0.525 dividend. 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 payout ratio is 30.88%.

Insider Transactions at Dell Technologies

In other Dell Technologies news, Director Lake Group L.L.C. Silver sold 6,617 shares of Dell Technologies stock in a transaction that occurred on Tuesday, October 14th. The stock was sold at an average price of $151.63, for a total transaction of $1,003,335.71. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 499,999 shares of the firm’s stock in a transaction on Wednesday, October 8th. The stock was 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. Over the last quarter, insiders sold 4,587,755 shares of company stock worth $649,644,973. Insiders own 42.00% of the company’s stock.

Institutional Investors Weigh In On Dell Technologies

Institutional investors have recently made changes to their positions in the stock. William Allan Corp raised its position in shares of Dell Technologies by 47.6% in the 2nd quarter. William Allan Corp now owns 25,901 shares of the technology company’s stock worth $3,175,000 after buying an additional 8,355 shares during the period. First Hawaiian Bank lifted its holdings in shares of Dell Technologies by 67.1% during the 1st quarter. First Hawaiian Bank now owns 34,878 shares of the technology company’s stock valued at $3,179,000 after acquiring an additional 14,010 shares in the last quarter. Carolina Wealth Advisors LLC acquired a new position in shares of Dell Technologies during the second quarter worth about $8,869,000. Planning Directions Inc. bought a new position in Dell Technologies during the 2nd quarter worth $310,000. Finally, Buck Wealth Strategies LLC bought a new stake in Dell Technologies in the 2nd quarter valued at about $238,000. 76.37% of the stock is currently owned by hedge funds and other institutional investors.

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).