Insider Selling: Dell Technologies Inc. (NYSE:DELL) CEO Sells 500,000 Shares of Stock

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 value of $58,965,000.00. Following the completion of the transaction, the chief executive officer now owns 36,412,241 shares of the company’s stock, valued at approximately $4,294,095,581.13. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Dell Technologies Stock Up 2.4 %

Shares of DELL stock opened at $120.17 on Thursday. Dell Technologies Inc. has a 12-month low of $63.90 and a 12-month high of $179.70. The firm has a fifty day moving average of $110.57 and a 200-day moving average of $124.34. The company has a market capitalization of $85.24 billion, a price-to-earnings ratio of 24.52, a P/E/G ratio of 1.25 and a beta of 0.90.

Dell Technologies (NYSE:DELL) last posted its quarterly earnings data on Thursday, August 29th. The technology company reported $1.89 earnings per share for the quarter, topping 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 negative return on equity of 178.09% and a net margin of 4.32%. Dell Technologies’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 earnings per share. On average, equities analysts expect that Dell Technologies Inc. will post 6.9 EPS for the current year.

Dell Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 22nd will be paid a dividend of $0.445 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.48%. Dell Technologies’s dividend payout ratio is 36.33%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its stake in shares of Dell Technologies by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 889,485 shares of the technology company’s stock valued at $68,048,000 after buying an additional 3,343 shares in the last quarter. Norges Bank acquired a new position in shares of Dell Technologies during the 4th quarter worth about $8,892,000. PNC Financial Services Group Inc. raised its holdings in shares of Dell Technologies by 0.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 34,284 shares of the technology company’s stock valued at $2,623,000 after purchasing an additional 216 shares during the period. Assetmark Inc. bought a new position in Dell Technologies during the fourth quarter worth about $183,000. Finally, Franklin Resources Inc. increased its position in Dell Technologies by 30.8% during the fourth quarter. Franklin Resources Inc. now owns 33,685 shares of the technology company’s stock worth $2,577,000 after buying an additional 7,936 shares during the last quarter. 38.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Sanford C. Bernstein cut their price target on Dell Technologies from $155.00 to $140.00 and set an “outperform” rating for the company in a report on Friday, August 30th. Evercore ISI reissued an “outperform” rating and set a $140.00 price target on shares of Dell Technologies in a research note on Wednesday, August 28th. Mizuho started coverage on shares of Dell Technologies in a research report on Tuesday, September 17th. They issued an “outperform” rating and a $135.00 price objective for the company. TD Cowen decreased their price objective on Dell Technologies from $155.00 to $128.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. Finally, UBS Group dropped their target price on 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 equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.47.

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).