Dell Technologies (NYSE:DELL) Shares Gap Up – Here’s What Happened

01 Nov 2024, 07:46 by Scott Moore · The Cerbat Gem

Dell Technologies Inc. (NYSE:DELL – Get Free Report)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $121.63, but opened at $130.99. Dell Technologies shares last traded at $126.01, with a volume of 2,931,185 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DELL shares. Deutsche Bank Aktiengesellschaft initiated coverage on Dell Technologies in a report on Friday, September 27th. They set a “buy” rating and a $144.00 price target on the stock. JPMorgan Chase & Co. raised their price target on Dell Technologies from $155.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. TD Cowen decreased their target price on Dell Technologies from $155.00 to $128.00 and set a “hold” rating for the company in a research report on Friday, August 30th. Mizuho started coverage on Dell Technologies in a report on Tuesday, September 17th. They issued an “outperform” rating and a $135.00 price objective for the company. Finally, UBS Group lowered their price target on shares of Dell Technologies from $164.00 to $158.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $143.50.

Check Out Our Latest Stock Analysis on DELL

Dell Technologies Stock Down 4.4 %

The business has a 50 day moving average price of $117.78 and a two-hundred day moving average price of $125.32. The stock has a market cap of $86.85 billion, a P/E ratio of 22.73, a price-to-earnings-growth ratio of 1.36 and a beta of 0.90.

Dell Technologies (NYSE:DELL – Get Free Report) last posted its earnings results on Thursday, August 29th. The technology company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. The company had revenue of $25.03 billion during the quarter, compared to analysts’ expectations of $24.14 billion. Dell Technologies had a net margin of 4.32% and a negative return on equity of 178.09%. Dell Technologies’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period last year, the company posted $1.44 earnings per share. On average, research analysts forecast that Dell Technologies Inc. will post 6.91 earnings per share for the current year.

Dell Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 22nd will be paid a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Tuesday, October 22nd. Dell Technologies’s payout ratio is 32.72%.

Insiders Place Their Bets

In other news, CEO Michael S. Dell sold 1,839,959 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $106.68, for a total transaction of $196,286,826.12. Following the sale, the chief executive officer now directly owns 18,350,822 shares in the company, valued at approximately $1,957,665,690.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Dell Technologies news, CEO Michael S. Dell sold 1,839,959 shares of Dell Technologies stock in a transaction on Monday, September 9th. The shares were sold at an average price of $106.68, for a total transaction of $196,286,826.12. Following the completion of the transaction, the chief executive officer now directly owns 18,350,822 shares of the company’s stock, valued at $1,957,665,690.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Radakovich Lynn Vojvodich sold 725 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $129.50, for a total transaction of $93,887.50. Following the completion of the sale, the director now directly owns 23,680 shares in the company, valued at approximately $3,066,560. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,953,387 shares of company stock valued at $2,113,353,236 in the last three months. Corporate insiders own 46.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors purchased a new position in shares of Dell Technologies during the first quarter worth approximately $835,946,000. International Assets Investment Management LLC raised its position in Dell Technologies by 19,376.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,427,699 shares of the technology company’s stock valued at $287,779,000 after purchasing an additional 2,415,234 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Dell Technologies by 83.4% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,224,975 shares of the technology company’s stock worth $250,676,000 after buying an additional 1,011,512 shares in the last quarter. Bahl & Gaynor Inc. boosted its stake in shares of Dell Technologies by 159.8% during the first quarter. Bahl & Gaynor Inc. now owns 1,353,044 shares of the technology company’s stock valued at $154,396,000 after purchasing an additional 832,144 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in Dell Technologies by 303.6% in the first quarter. Nordea Investment Management AB now owns 937,398 shares of the technology company’s stock worth $107,173,000 after buying an additional 705,167 shares in the last quarter. Hedge funds and other institutional investors own 38.10% of the company’s stock.

About Dell Technologies

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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).