Dell Technologies Inc. (NYSE:DELL) Short Interest Down 16.5% in February

Dell Technologies Inc. (NYSE:DELL) was the target of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 12,450,000 shares, a decline of 16.5% from the February 13th total of 14,910,000 shares. Based on an average daily trading volume, of 8,250,000 shares, the days-to-cover ratio is presently 1.5 days. Currently, 3.3% of the shares of the stock are sold short.

Analyst Ratings Changes

A number of research firms recently commented on DELL. Barclays upped their price objective on shares of Dell Technologies from $115.00 to $116.00 and gave the company an “equal weight” rating in a research report on Friday, February 28th. Evercore ISI reiterated an “outperform” rating and issued a $150.00 price target on shares of Dell Technologies in a report on Wednesday, November 20th. Bank of America dropped their price objective on shares of Dell Technologies from $155.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. JPMorgan Chase & Co. lowered their target price on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Finally, Mizuho reduced their price objective on Dell Technologies from $155.00 to $150.00 and set an “outperform” rating for the company in a research report on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Dell Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.24.

Dell Technologies Stock Performance

DELL traded up $2.29 during trading hours on Wednesday, reaching $98.73. The company’s stock had a trading volume of 5,453,189 shares, compared to its average volume of 10,095,071. The company’s 50-day moving average is $106.75 and its 200-day moving average is $116.94. The firm has a market cap of $69.15 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 1.10 and a beta of 0.83. Dell Technologies has a 52 week low of $86.93 and a 52 week high of $179.70.

Dell Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Tuesday, April 22nd will be issued a dividend of $0.525 per share. The ex-dividend date is Tuesday, April 22nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.13%. This is an increase from Dell Technologies’s previous quarterly dividend of $0.45. Dell Technologies’s dividend payout ratio (DPR) is currently 33.76%.

Insider Activity at Dell Technologies

In related news, Director Radakovich Lynn Vojvodich sold 725 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $120.00, for a total transaction of $87,000.00. Following the completion of the sale, the director now directly owns 23,680 shares of the company’s stock, valued at $2,841,600. The trade was a 2.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director V (Gp) L.L.C. Slta sold 325,167 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $124.52, for a total transaction of $40,489,794.84. Following the completion of the transaction, the director now directly owns 810,657 shares in the company, valued at approximately $100,943,009.64. The trade was a 28.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 824,937 shares of company stock valued at $100,327,453 over the last ninety days. 46.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. State Street Corp boosted its position in Dell Technologies by 92.4% in the third 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 in the last quarter. Norges Bank bought a new stake in Dell Technologies during the 4th quarter worth $455,029,000. Vanguard Group Inc. increased 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 worth $3,222,175,000 after purchasing an additional 2,662,407 shares in the last quarter. Geode Capital Management LLC raised its position in Dell Technologies by 71.8% in the third quarter. Geode Capital Management LLC now owns 6,317,829 shares of the technology company’s stock valued at $746,596,000 after purchasing an additional 2,641,456 shares during the last quarter. Finally, Michael & Susan Dell Foundation acquired a new stake in shares of Dell Technologies during the fourth quarter valued at about $265,052,000. Institutional investors 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).