Michael S. Dell Sells 500,000 Shares of Dell Technologies Inc. (NYSE:DELL) Stock

Dell Technologies Inc. (NYSE:DELL) CEO Michael S. Dell sold 500,000 shares of Dell Technologies stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $117.93, for a total transaction of $58,965,000.00. Following the sale, the chief executive officer now directly owns 36,412,241 shares in the company, valued at approximately $4,294,095,581.13. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Dell Technologies Trading Down 0.2 %

Shares of DELL opened at $117.30 on Wednesday. Dell Technologies Inc. has a 12 month low of $63.90 and a 12 month high of $179.70. The business’s fifty day simple moving average is $110.57 and its two-hundred day simple moving average is $124.34. The company has a market cap of $83.20 billion, a price-to-earnings ratio of 23.94, a P/E/G ratio of 1.15 and a beta of 0.90.

Dell Technologies (NYSE:DELL) last released its quarterly earnings data on Thursday, August 29th. The technology company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. The company had revenue of $25.03 billion during the quarter, compared to the consensus estimate of $24.14 billion. Dell Technologies had a negative return on equity of 178.09% and a net margin of 4.32%. Dell Technologies’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the company earned $1.44 EPS. As a group, research analysts forecast that Dell Technologies Inc. will post 6.9 EPS for the current year.

Dell Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 22nd will be issued a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 1.52%. The ex-dividend date is Tuesday, October 22nd. Dell Technologies’s dividend payout ratio is currently 36.33%.

Institutional Investors Weigh In On Dell Technologies

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Dell Technologies by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 17,595,478 shares of the technology company’s stock valued at $1,346,054,000 after acquiring an additional 647,192 shares during the last quarter. Capital World Investors bought a new stake in shares of Dell Technologies during the 1st quarter valued at about $835,946,000. Point72 Asset Management L.P. increased its position in shares of Dell Technologies by 14.8% during the 4th quarter. Point72 Asset Management L.P. now owns 4,045,200 shares of the technology company’s stock valued at $309,458,000 after purchasing an additional 520,677 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Dell Technologies by 449.8% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,714,573 shares of the technology company’s stock worth $284,165,000 after purchasing an additional 3,038,891 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Dell Technologies by 2.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 2,276,779 shares of the technology company’s stock worth $319,771,000 after buying an additional 51,804 shares during the last quarter. 38.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on DELL. Mizuho initiated coverage on shares of Dell Technologies in a report on Tuesday, September 17th. They issued an “outperform” rating and a $135.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on Dell Technologies from $155.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Morgan Stanley decreased their price objective on Dell Technologies from $142.00 to $136.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. Sanford C. Bernstein reduced their target price on shares of Dell Technologies from $155.00 to $140.00 and set an “outperform” rating on the stock in a research report on Friday, August 30th. Finally, TD Cowen lowered their price target on shares of Dell Technologies from $155.00 to $128.00 and set a “hold” rating for the company in a research report on Friday, August 30th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $139.19.

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).