Dell Technologies Inc. (NYSE:DELL) Declares Dividend Increase – $0.53 Per Share

Dell Technologies Inc. (NYSE:DELL) declared a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Shareholders of record on Tuesday, April 22nd will be paid a dividend of 0.525 per share by the technology company on Friday, May 2nd. This represents a $2.10 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Tuesday, April 22nd. This is a boost from Dell Technologies’s previous quarterly dividend of $0.45.

Dell Technologies has a dividend payout ratio of 17.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Dell Technologies to earn $8.16 per share next year, which means the company should continue to be able to cover its $1.78 annual dividend with an expected future payout ratio of 21.8%.

Dell Technologies Trading Down 4.6 %

Shares of NYSE:DELL traded down $4.98 on Friday, hitting $102.85. The company had a trading volume of 20,328,217 shares, compared to its average volume of 8,731,236. The stock has a market cap of $72.04 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 1.10 and a beta of 0.90. The stock has a 50 day moving average price of $112.83 and a 200 day moving average price of $118.12. Dell Technologies has a 1-year low of $86.93 and a 1-year high of $179.70.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings data on Tuesday, November 26th. The technology company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.32. The business had revenue of $24.37 billion during the quarter, compared to analysts’ expectations of $24.67 billion. Dell Technologies had a net margin of 4.36% and a negative return on equity of 191.91%. The business’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.62 EPS. Sell-side analysts anticipate that Dell Technologies will post 6.93 earnings per share for the current fiscal year.

Insider Activity at Dell Technologies

In related news, CFO Yvonne Mcgill sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $125.82, for a total transaction of $1,006,560.00. Following the completion of the sale, the chief financial officer now directly owns 228,419 shares in the company, valued at approximately $28,739,678.58. The trade was a 3.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $119.73, for a total transaction of $59,750,657.85. Following the sale, the director now directly owns 810,657 shares of the company’s stock, valued at approximately $97,059,962.61. The trade was a 38.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 937,407 shares of company stock valued at $114,418,186 over the last ninety days. Insiders own 46.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. TD Cowen reduced their price objective on shares of Dell Technologies from $128.00 to $120.00 and set a “hold” rating for the company in a research report on Friday. Mizuho dropped their price objective on shares of Dell Technologies from $155.00 to $150.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. JPMorgan Chase & Co. reduced their target price on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Bank of America dropped their price target on Dell Technologies from $155.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, February 18th. Finally, Citigroup reduced their price objective on Dell Technologies from $156.00 to $145.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Dell Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $143.47.

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).