Dell Technologies (NYSE:DELL) Reaches New 1-Year Low – Here’s What Happened

Dell Technologies Inc. (NYSE:DELL)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $78.93 and last traded at $80.15, with a volume of 6617674 shares. The stock had previously closed at $95.33.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DELL. TD Cowen cut their price target on shares of Dell Technologies from $128.00 to $120.00 and set a “hold” rating on the stock in a report on Friday, February 28th. OTR Global raised shares of Dell Technologies from a “negative” rating to a “positive” rating in a report on Wednesday, February 12th. Wells Fargo & Company lowered their price target on shares of Dell Technologies from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. reduced their price objective 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. Finally, Loop Capital dropped their target price on Dell Technologies from $185.00 to $130.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Dell Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $141.24.

Dell Technologies Stock Down 7.3 %

The company has a market capitalization of $50.13 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 1.10 and a beta of 0.83. The stock’s 50-day simple moving average is $101.57 and its two-hundred day simple moving average is $115.31.

Dell Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Tuesday, April 22nd will be paid a $0.525 dividend. The ex-dividend date is Tuesday, April 22nd. This is a positive change from Dell Technologies’s previous quarterly dividend of $0.45. This represents a $2.10 dividend on an annualized basis and a yield of 2.93%. Dell Technologies’s dividend payout ratio (DPR) is currently 33.76%.

Insiders Place Their Bets

In other Dell Technologies news, CAO Brunilda Rios sold 926 shares of the stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $93.29, for a total value of $86,386.54. Following the completion of the sale, the chief accounting officer now owns 37,948 shares in the company, valued at approximately $3,540,168.92. This represents a 2.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $119.73, for a total value of $59,750,657.85. Following the transaction, the director now owns 810,657 shares in the company, valued at approximately $97,059,962.61. This represents a 38.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 825,863 shares of company stock worth $100,413,839. Corporate insiders own 46.70% of the company’s stock.

Hedge Funds Weigh In On Dell Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DELL. State Street Corp grew its stake in shares of Dell Technologies by 92.4% in the 3rd quarter. State Street Corp now owns 12,767,011 shares of the technology company’s stock valued at $1,513,401,000 after buying an additional 6,131,507 shares during the period. Norges Bank acquired a new position in shares of Dell Technologies in the 4th quarter valued at $455,029,000. Vanguard Group Inc. raised its holdings in Dell Technologies by 10.5% in the 4th quarter. Vanguard Group Inc. now owns 27,960,560 shares of the technology company’s stock valued at $3,222,175,000 after buying an additional 2,662,407 shares during the period. Geode Capital Management LLC boosted its stake in Dell Technologies by 71.8% during the third quarter. Geode Capital Management LLC now owns 6,317,829 shares of the technology company’s stock worth $746,596,000 after buying an additional 2,641,456 shares during the period. Finally, Michael & Susan Dell Foundation acquired a new position in shares of Dell Technologies in the 4th quarter worth approximately $265,052,000. Institutional investors and hedge funds own 76.37% of the company’s stock.

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).