Dell Technologies (NYSE:DELL) Stock Price Down 0.9% - Here's Why

Dell Technologies Inc. (NYSE:DELL) saw a decrease in its stock price, dropping by 0.9% on Monday. The shares fell as low as $88.76 during the trading session and were last recorded at $90.68. In total, 2,371,328 shares changed hands on that day, which is a notable drop of 73% compared to the average trading volume of 8,737,137 shares. The previous closing price for the stock was $91.46.

Analyst Ratings Changes

There have been several updates from analysts regarding Dell Technologies' stock. For instance, TD Cowen adjusted their price target for Dell from $128.00 to $120.00 while maintaining a "hold" rating in a report dated February 28. In another report from Mizuho on November 27, the price target was reduced from $155.00 to $150.00, with an "outperform" rating issued. Loop Capital made a more significant cut on March 4, reducing their price target from $185.00 to $130.00 but still giving the company a "buy" rating. Citigroup also decreased their target from $156.00 to $145.00 while Wells Fargo lowered their projection from $160.00 to $150.00. Currently, three analysts have rated the stock as a hold, while 16 have rated it as a buy. According to MarketBeat, Dell Technologies has a consensus rating of "Moderate Buy" with an average target price of $141.24.

Dell Technologies Stock Performance

The company's market capitalization stands at $63.27 billion, showcasing decent growth potential. With a price-to-earnings (P/E) ratio of 15.96 and a P/E/G ratio of 1.10, Dell Technologies maintains a relatively stable beta of 0.83. Over the past few months, the stock has fluctuated, with its fifty-day moving average at $110.13 and a two-hundred day moving average of $117.81.

Dell Technologies Increases Dividend

Recently, Dell Technologies announced an increase in its quarterly dividend, which is set to be paid on May 2. Shareholders recorded on April 22 will receive $0.525 per share, amounting to an annual payout of $2.10 and yielding approximately 2.32%. This increase is a positive shift from the previous quarterly dividend of $0.45. The dividend payout ratio for Dell Technologies is currently at 33.76%.

Insider Activity at Dell Technologies

In recent insider dealings, Director Iv (Gp) L.L.C. Slta sold 499,045 shares on January 8 at an average price of $119.73, making the total transaction valued at about $59.75 million. Post-sale, this director retains approximately 810,657 shares valued at around $97.06 million. This sale represents a notable decrease of 38.10% in their holdings. Likewise, Director Radakovich Lynn Vojvodich sold 725 shares on January 22 at an average price of $120.00. Collectively, insiders sold 825,662 shares worth approximately $100.41 million in the last quarter, owning about 46.70% of the company’s stock.

Institutional Investors Weigh In On Dell Technologies

Many institutional investors have made recent modifications to their positions in Dell Technologies. For example, Bellwether Advisors LLC took a new stake during the fourth quarter valued at about $25,000. Vision Financial Markets LLC and Lee Danner & Bass Inc. also acquired stakes during this period, each approximating $26,000. True Wealth Design LLC significantly boosted its shares by 2,530.0% in the third quarter and now holds 263 shares worth around $31,000. Currently, institutional investors and hedge funds hold approximately 76.37% of Dell Technologies' stock.

About Dell Technologies

Dell Technologies Inc. is a leading player in the technology sector, involved in the design, development, manufacture, marketing, sale, and support of a wide range of integrated solutions, products, and services globally. The company operates through two main segments: the Infrastructure Solutions Group (ISG) and the Client Solutions Group (CSG).

Dell, Stocks, Technology