Dell Technologies Inc. (NYSE:DELL) Short Interest Up 6.7% in February

Dell Technologies Inc. (NYSE:DELL – Get Rating) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 6,960,000 shares, a growth of 6.7% from the February 13th total of 6,520,000 shares. Based on an average daily volume of 3,330,000 shares, the days-to-cover ratio is currently 2.1 days. Approximately 3.0% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Evercore ISI reduced their price target on shares of Dell Technologies from $50.00 to $48.00 in a research report on Tuesday, November 22nd. Credit Suisse Group reiterated an “outperform” rating and issued a $50.00 target price on shares of Dell Technologies in a report on Monday, March 6th. Citigroup dropped their target price on shares of Dell Technologies from $53.00 to $50.00 in a report on Friday, March 3rd. UBS Group dropped their target price on shares of Dell Technologies from $65.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, November 22nd. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of Dell Technologies from $48.00 to $45.00 and set a “buy” rating for the company in a report on Friday, March 3rd. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $47.50.

Insiders Place Their Bets

In other news, COO Anthony Charles Whitten sold 15,983 shares of Dell Technologies stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $36.49, for a total transaction of $583,219.67. Following the sale, the chief operating officer now owns 841,207 shares of the company’s stock, valued at approximately $30,695,643.43. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 47.30% of the company’s stock.

Hedge Funds Weigh In On Dell Technologies

A number of institutional investors and hedge funds have recently modified their holdings of DELL. Norges Bank acquired a new position in shares of Dell Technologies during the fourth quarter worth $111,100,000. Goldman Sachs Group Inc. grew its stake in shares of Dell Technologies by 80.7% during the first quarter. Goldman Sachs Group Inc. now owns 4,976,265 shares of the technology company’s stock worth $249,759,000 after purchasing an additional 2,222,995 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Dell Technologies by 43.9% during the third quarter. Alliancebernstein L.P. now owns 4,567,318 shares of the technology company’s stock worth $156,065,000 after purchasing an additional 1,394,376 shares in the last quarter. Pacer Advisors Inc. lifted its position in Dell Technologies by 40.7% in the fourth quarter. Pacer Advisors Inc. now owns 4,019,506 shares of the technology company’s stock valued at $161,665,000 after acquiring an additional 1,161,913 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Dell Technologies by 68.8% in the second quarter. Renaissance Technologies LLC now owns 2,280,377 shares of the technology company’s stock valued at $105,376,000 after acquiring an additional 929,500 shares during the last quarter. Institutional investors and hedge funds own 26.42% of the company’s stock.

Dell Technologies Stock Down 2.2 %

NYSE:DELL opened at $37.22 on Friday. The company has a fifty day simple moving average of $40.57 and a two-hundred day simple moving average of $39.60. The company has a market cap of $26.65 billion, a price-to-earnings ratio of 11.56, a price-to-earnings-growth ratio of 0.74 and a beta of 1.03. Dell Technologies has a 52 week low of $32.90 and a 52 week high of $55.30.

Dell Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 5th. Investors of record on Tuesday, April 25th will be paid a dividend of $0.37 per share. The ex-dividend date is Monday, April 24th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.98%. This is an increase from Dell Technologies’s previous quarterly dividend of $0.33. Dell Technologies’s payout ratio is presently 45.96%.

About Dell Technologies

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Dell Technologies, Inc is a holding company, which engages in the provision of information technology hardware, software, and service solutions through its subsidiaries. It operates through the following segments: Infrastructure Solutions Group (ISG), Client Solutions Group (CSG), and VMware. The ISG segment includes servers, networking, and storage, as well as services and third-party software and peripherals that are closely tied to the sale of ISG hardware.