Dell Technologies (NYSE:DELL) Sees Large Volume Increase After Earnings Beat

Dell Technologies Inc. (NYSE:DELLGet Rating) shares saw unusually-high trading volume on Tuesday following a stronger than expected earnings report. Approximately 119,636 shares traded hands during mid-day trading, a decline of 96% from the previous session’s volume of 2,722,534 shares.The stock last traded at $42.33 and had previously closed at $41.07.

The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.71. The firm had revenue of $24.72 million during the quarter, compared to analyst estimates of $24.61 billion. Dell Technologies had a net margin of 4.98% and a return on equity of 305.10%. Dell Technologies’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.37 earnings per share.

Dell Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 28th. Shareholders of record on Wednesday, October 19th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.01%. The ex-dividend date was Tuesday, October 18th. Dell Technologies’s dividend payout ratio (DPR) is presently 19.08%.

Analysts Set New Price Targets

DELL has been the topic of several research reports. Morgan Stanley reduced their price target on shares of Dell Technologies from $54.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Monday, October 17th. Jefferies Financial Group initiated coverage on shares of Dell Technologies in a research report on Monday, October 31st. They set a “hold” rating and a $39.00 price target on the stock. Cowen reduced their target price on shares of Dell Technologies from $58.00 to $45.00 and set a “market perform” rating on the stock in a report on Friday, August 26th. The Goldman Sachs Group reduced their target price on shares of Dell Technologies from $52.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, August 26th. Finally, UBS Group reduced their target price on shares of Dell Technologies from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Dell Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $50.38.

Insider Activity at Dell Technologies

In related news, insider William F. Scannell sold 27,536 shares of Dell Technologies stock in a transaction on Monday, September 12th. The shares were sold at an average price of $40.20, for a total value of $1,106,947.20. Following the transaction, the insider now directly owns 343,835 shares in the company, valued at approximately $13,822,167. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 47.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dell Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. raised its stake in shares of Dell Technologies by 211.1% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 16,440 shares of the technology company’s stock worth $563,000 after buying an additional 11,155 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in shares of Dell Technologies during the 3rd quarter worth $19,938,000. National Pension Service raised its stake in shares of Dell Technologies by 1.1% during the 3rd quarter. National Pension Service now owns 596,380 shares of the technology company’s stock worth $20,390,000 after buying an additional 6,259 shares during the last quarter. Glenmede Trust Co. NA raised its stake in shares of Dell Technologies by 97.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 130,089 shares of the technology company’s stock worth $4,444,000 after buying an additional 64,218 shares during the last quarter. Finally, Captrust Financial Advisors raised its stake in Dell Technologies by 6.9% in the 3rd quarter. Captrust Financial Advisors now owns 14,282 shares of the technology company’s stock valued at $488,000 after purchasing an additional 927 shares during the last quarter. Institutional investors and hedge funds own 26.53% of the company’s stock.

Dell Technologies Trading Up 6.8 %

The firm’s 50 day moving average is $37.60 and its two-hundred day moving average is $42.39. The stock has a market cap of $32.14 billion, a price-to-earnings ratio of 6.34, a P/E/G ratio of 0.62 and a beta of 0.92.

About Dell Technologies

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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).

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