Dell Technologies (NYSE:DELL) Shares Gap Down – What’s Next?

Dell Technologies Inc. (NYSE:DELL) gapped down before the market opened on Monday . The stock had previously closed at $133.76, but opened at $124.00. Dell Technologies shares last traded at $124.36, with a volume of 5,395,906 shares.

Wall Street Analysts Forecast Growth

DELL has been the subject of a number of analyst reports. Wells Fargo & Company boosted their price objective on shares of Dell Technologies from $160.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, October 8th. Susquehanna boosted their price target on Dell Technologies from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. Zacks Research raised Dell Technologies from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Daiwa Capital Markets lifted their price objective on Dell Technologies from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, September 11th. Finally, TD Cowen upped their target price on Dell Technologies from $130.00 to $150.00 and gave the company a “hold” rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.35.

Dell Technologies Trading Down 7.8%

The firm has a market capitalization of $82.90 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 0.91 and a beta of 1.02. The firm has a 50-day moving average of $143.87 and a two-hundred day moving average of $128.95.

Dell Technologies (NYSE:DELL) last released its quarterly earnings data on Thursday, October 5th. The technology company reported $1.68 EPS for the quarter. Dell Technologies had a negative return on equity of 236.21% and a net margin of 4.73%.The company had revenue of $26.43 billion for the quarter. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. Equities research analysts expect that Dell Technologies Inc. will post 6.93 earnings per share for the current fiscal year.

Dell Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, October 21st were paid a dividend of $0.525 per share. This represents a $2.10 annualized dividend and a yield of 1.7%. The ex-dividend date was Tuesday, October 21st. Dell Technologies’s payout ratio is currently 30.88%.

Insiders Place Their Bets

In other Dell Technologies news, Director V (Gp) L.L.C. Slta sold 565,000 shares of the firm’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $132.32, for a total value of $74,760,800.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $135.98, for a total value of $112,183,364.02. The SEC filing for this sale provides additional information. In the last three months, insiders sold 4,537,755 shares of company stock worth $642,644,973. Insiders own 42.00% of the company’s stock.

Hedge Funds Weigh In On Dell Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Winnow Wealth LLC purchased a new stake in shares of Dell Technologies during the second quarter valued at approximately $25,000. Westside Investment Management Inc. increased its stake in Dell Technologies by 84.7% during the 2nd quarter. Westside Investment Management Inc. now owns 218 shares of the technology company’s stock worth $27,000 after buying an additional 100 shares during the period. Twin Peaks Wealth Advisors LLC purchased a new position in Dell Technologies in the 2nd quarter valued at about $28,000. Central Pacific Bank Trust Division acquired a new stake in shares of Dell Technologies during the second quarter valued at about $29,000. Finally, Johnson Financial Group Inc. increased its holdings in Dell Technologies by 66.2% during the 2nd quarter. Johnson Financial Group Inc. now owns 251 shares of the technology company’s stock worth $31,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 76.37% of the company’s stock.

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).