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

Dell Technologies Inc. (NYSE:DELL) CEO Michael S. Dell sold 500,000 shares of Dell Technologies stock in a transaction on 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 transaction, the chief executive officer now owns 36,412,241 shares in the company, valued at approximately $4,294,095,581.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Dell Technologies Stock Performance

Shares of NYSE DELL opened at $117.30 on Wednesday. Dell Technologies Inc. has a fifty-two week low of $63.90 and a fifty-two week high of $179.70. The company has a market cap of $83.20 billion, a price-to-earnings ratio of 23.94, a PEG ratio of 1.15 and a beta of 0.90. The business’s 50 day moving average price is $110.57 and its 200-day moving average price is $124.34.

Dell Technologies (NYSE:DELL) last released its earnings results on Thursday, August 29th. The technology company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. The business had revenue of $25.03 billion for the quarter, compared to analyst estimates of $24.14 billion. Dell Technologies had a negative return on equity of 178.09% and a net margin of 4.32%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.44 earnings per share. Sell-side analysts predict that Dell Technologies Inc. will post 6.9 earnings per share for the current year.

Dell Technologies Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on DELL. TD Cowen dropped their price objective on Dell Technologies from $155.00 to $128.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Citigroup boosted their target price on shares of Dell Technologies from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Sanford C. Bernstein reduced their price target on shares of Dell Technologies from $155.00 to $140.00 and set an “outperform” rating on the stock in a report on Friday, August 30th. Mizuho started coverage on shares of Dell Technologies in a report on Tuesday, September 17th. They set an “outperform” rating and a $135.00 price objective for the company. Finally, Wells Fargo & Company reduced their target price on Dell Technologies from $150.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $139.19.

Hedge Funds Weigh In On Dell Technologies

Institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Dell Technologies by 22.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 135,678 shares of the technology company’s stock worth $15,482,000 after purchasing an additional 25,117 shares during the period. LRI Investments LLC bought a new position in shares of Dell Technologies during the 1st quarter worth $104,000. Oppenheimer Asset Management Inc. increased its stake in shares of Dell Technologies by 31.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 6,485 shares of the technology company’s stock valued at $740,000 after buying an additional 1,539 shares during the period. Tidal Investments LLC raised its holdings in shares of Dell Technologies by 114.2% in the first quarter. Tidal Investments LLC now owns 10,188 shares of the technology company’s stock valued at $1,163,000 after acquiring an additional 5,432 shares in the last quarter. Finally, AlpInvest Partners B.V. bought a new position in Dell Technologies during the 2nd quarter worth about $3,138,000. 38.10% of the stock is owned by hedge funds and other institutional investors.

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).