Dell Technologies (NYSE:DELL) Shares Gap Up to $120.63

Dell Technologies Inc. (NYSE:DELL) shares gapped up before the market opened on Wednesday . The stock had previously closed at $120.63, but opened at $126.01. Dell Technologies shares last traded at $121.88, with a volume of 1,889,654 shares.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on DELL shares. Evercore ISI raised their target price on Dell Technologies from $95.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, March 1st. UBS Group boosted their price objective on Dell Technologies from $113.00 to $141.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Morgan Stanley lifted their price target on Dell Technologies from $100.00 to $128.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Loop Capital assumed coverage on shares of Dell Technologies in a research report on Wednesday, February 28th. They issued a “buy” rating and a $125.00 price objective for the company. Finally, Sanford C. Bernstein lifted their target price on Dell Technologies from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $104.63.

Dell Technologies Price Performance

The company has a market cap of $89.14 billion, a price-to-earnings ratio of 28.58, a price-to-earnings-growth ratio of 1.53 and a beta of 0.92. The stock has a 50-day moving average price of $111.78 and a 200 day moving average price of $87.70.

Dell Technologies (NYSE:DELL) last released its quarterly earnings results on Thursday, February 29th. The technology company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.47. Dell Technologies had a net margin of 3.63% and a negative return on equity of 172.07%. The company had revenue of $22.32 billion during the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter in the prior year, the company earned $1.55 earnings per share. The business’s quarterly revenue was down 10.9% compared to the same quarter last year. Sell-side analysts expect that Dell Technologies Inc. will post 6.58 EPS for the current fiscal year.

Dell Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd will be given a dividend of $0.445 per share. This is a boost from Dell Technologies’s previous quarterly dividend of $0.37. This represents a $1.78 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Monday, April 22nd. Dell Technologies’s dividend payout ratio is currently 40.73%.

Insider Buying and Selling at Dell Technologies

In other news, General Counsel Richard J. Rothberg sold 93,954 shares of Dell Technologies stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $132.95, for a total value of $12,491,184.30. Following the sale, the general counsel now directly owns 86,836 shares in the company, valued at $11,544,846.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, General Counsel Richard J. Rothberg sold 93,954 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $132.95, for a total transaction of $12,491,184.30. Following the completion of the transaction, the general counsel now directly owns 86,836 shares in the company, valued at approximately $11,544,846.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael S. Dell sold 41,550 shares of Dell Technologies stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $107.03, for a total value of $4,447,096.50. Following the completion of the sale, the chief executive officer now directly owns 36,389,719 shares in the company, valued at approximately $3,894,791,624.57. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,382,204 shares of company stock worth $718,452,037. Corporate insiders own 48.60% of the company’s stock.

Hedge Funds Weigh In On Dell Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC grew its position in shares of Dell Technologies by 12.3% in the 3rd quarter. CWM LLC now owns 3,834 shares of the technology company’s stock valued at $264,000 after acquiring an additional 421 shares during the period. IFP Advisors Inc increased its position in Dell Technologies by 99.3% during the third quarter. IFP Advisors Inc now owns 1,208 shares of the technology company’s stock worth $83,000 after buying an additional 602 shares during the last quarter. SG Americas Securities LLC raised its stake in Dell Technologies by 103.3% in the third quarter. SG Americas Securities LLC now owns 3,099 shares of the technology company’s stock valued at $214,000 after buying an additional 98,158 shares during the period. Asset Management One Co. Ltd. lifted its position in shares of Dell Technologies by 6.1% in the third quarter. Asset Management One Co. Ltd. now owns 104,600 shares of the technology company’s stock valued at $7,207,000 after buying an additional 5,979 shares during the last quarter. Finally, Connective Portfolio Management LLC bought a new position in shares of Dell Technologies during the 3rd quarter worth approximately $1,516,000. 38.10% of the stock is owned by institutional investors.

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).