Dell Technologies (NYSE:DELL) Trading Down 2% – Time to Sell?

Dell Technologies Inc. (NYSE:DELL)’s stock price was down 2% during mid-day trading on Thursday . The stock traded as low as $148.82 and last traded at $149.3220. Approximately 4,220,337 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 7,145,254 shares. The stock had previously closed at $152.41.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on DELL shares. Evercore ISI set a $180.00 price target on Dell Technologies and gave the stock an “outperform” rating in a report on Monday. The Goldman Sachs Group increased their price target on Dell Technologies from $155.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, October 8th. Daiwa Capital Markets increased their price target on Dell Technologies from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 11th. Piper Sandler started coverage on Dell Technologies in a report on Tuesday, October 21st. They set an “overweight” rating and a $172.00 target price for the company. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Dell Technologies in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $162.80.

Dell Technologies Stock Performance

The firm has a market cap of $100.40 billion, a price-to-earnings ratio of 21.96, a price-to-earnings-growth ratio of 1.05 and a beta of 1.02. The firm has a 50-day moving average price of $141.69 and a two-hundred day moving average price of $126.23.

Dell Technologies (NYSE:DELL) last issued its earnings results on Thursday, October 5th. The technology company reported $1.68 earnings per share for the quarter. Dell Technologies had a negative return on equity of 236.21% and a net margin of 4.73%.The business had revenue of $26.43 billion for the quarter. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. Research analysts anticipate that Dell Technologies Inc. will post 6.93 earnings per share for the current year.

Dell Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, October 21st were given a dividend of $0.525 per share. The ex-dividend date of this dividend was Tuesday, October 21st. This represents a $2.10 annualized dividend and a yield of 1.4%. Dell Technologies’s payout ratio is 30.88%.

Insider Activity at Dell Technologies

In other Dell Technologies news, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of Dell Technologies stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $135.98, for a total transaction of $112,183,364.02. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director V (Gp) L.L.C. Slta sold 565,000 shares of Dell Technologies stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $132.32, for a total value of $74,760,800.00. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 4,587,755 shares of company stock worth $649,644,973. 42.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Winnow Wealth LLC acquired a new position in shares of Dell Technologies in the second quarter valued at approximately $25,000. N.E.W. Advisory Services LLC acquired a new position in Dell Technologies during the first quarter worth $26,000. Cheviot Value Management LLC acquired a new position in Dell Technologies during the first quarter worth $27,000. Flaharty Asset Management LLC acquired a new position in Dell Technologies during the first quarter worth $27,000. Finally, Westside Investment Management Inc. grew its holdings in Dell Technologies by 84.7% during the second quarter. Westside Investment Management Inc. now owns 218 shares of the technology company’s stock worth $27,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 76.37% of the company’s stock.

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).