Dell Technologies Inc. (NYSE:DELL) Sees Significant Decline in Short Interest

Dell Technologies Inc. (NYSE:DELL) was the recipient of a significant decline in short interest in 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. Approximately 3.3% of the shares of the stock are sold short.

Dell Technologies Price Performance

NYSE:DELL traded up $1.90 during mid-day trading on Thursday, hitting $100.62. The company’s stock had a trading volume of 1,769,396 shares, compared to its average volume of 10,061,901. Dell Technologies has a 1 year low of $86.93 and a 1 year high of $179.70. The stock has a market cap of $70.48 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 1.10 and a beta of 0.83. The business’s fifty day moving average is $106.34 and its two-hundred day moving average is $116.82.

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 paid a dividend of $0.525 per share. This is a positive change from Dell Technologies’s previous quarterly dividend of $0.45. This represents a $2.10 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend is Tuesday, April 22nd. Dell Technologies’s dividend payout ratio is presently 33.76%.

Analyst Ratings Changes

Several research analysts have commented on DELL shares. Evercore ISI restated an “outperform” rating and set a $150.00 price objective on shares of Dell Technologies in a report on Wednesday, November 20th. Barclays lifted their price objective on shares of Dell Technologies from $115.00 to $116.00 and gave the company an “equal weight” rating in a report on Friday, February 28th. Bank of America cut their price target on Dell Technologies from $155.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Citigroup cut their target price on Dell Technologies from $156.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Finally, Morgan Stanley cut their price objective on shares of Dell Technologies from $154.00 to $128.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $141.24.

Insider Transactions at Dell Technologies

In other news, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $119.73, for a total value of $59,750,657.85. Following the sale, the director now owns 810,657 shares of the company’s stock, valued at approximately $97,059,962.61. This represents a 38.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director V (Gp) L.L.C. Slta sold 325,167 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $124.52, for a total value of $40,489,794.84. Following the completion of the sale, the director now 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. Over the last quarter, insiders have sold 824,937 shares of company stock valued at $100,327,453. 46.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Burns J W & Co. Inc. NY purchased a new position in shares of Dell Technologies in the fourth quarter valued at approximately $1,272,000. iA Global Asset Management Inc. raised its stake in Dell Technologies by 84.7% during the third quarter. iA Global Asset Management Inc. now owns 11,345 shares of the technology company’s stock worth $1,345,000 after purchasing an additional 5,203 shares during the period. Sky Investment Group LLC purchased a new stake in shares of Dell Technologies during the 4th quarter valued at approximately $1,687,000. Enclave Advisors LLC acquired a new position in Dell Technologies in the fourth quarter valued at about $848,000. Finally, Empowered Funds LLC increased its position in shares of Dell Technologies by 12.9% during the fourth quarter. Empowered Funds LLC now owns 30,388 shares of the technology company’s stock valued at $3,502,000 after acquiring an additional 3,470 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).