Dell Technologies Inc. (NYSE:DELL) Announces Quarterly Dividend of $0.33 – MarketBeat
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Dell Technologies Inc. (NYSE:DELL – Get Rating) announced a quarterly dividend on Tuesday, December 6th, Zacks reports. Stockholders of record on Wednesday, January 25th will be given a dividend of 0.33 per share by the technology company on Friday, February 3rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Tuesday, January 24th.
Dell Technologies has a payout ratio of 17.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Dell Technologies to earn $5.07 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 26.0%.
Dell Technologies Trading Down 1.3 %
NYSE:DELL opened at $41.92 on Thursday. The stock has a market cap of $30.73 billion, a P/E ratio of 17.61, a PEG ratio of 0.55 and a beta of 0.96. The stock has a 50 day simple moving average of $39.21 and a 200 day simple moving average of $42.40. Dell Technologies has a 1-year low of $32.90 and a 1-year high of $61.54.
Dell Technologies (NYSE:DELL – Get Rating) last released its quarterly earnings results on Monday, November 21st. The technology company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.69. The business had revenue of $24.72 million during the quarter, compared to analysts’ expectations of $24.61 billion. Dell Technologies had a negative return on equity of 208.47% and a net margin of 1.74%. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the firm posted $2.37 EPS. As a group, sell-side analysts forecast that Dell Technologies will post 6.46 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. The Goldman Sachs Group dropped their price objective on Dell Technologies from $52.00 to $43.00 and set a “neutral” rating for the company in a report on Friday, August 26th. UBS Group dropped their price objective on Dell Technologies from $65.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, November 22nd. Evercore ISI dropped their price objective on Dell Technologies from $50.00 to $48.00 in a report on Tuesday, November 22nd. Jefferies Financial Group assumed coverage on Dell Technologies in a report on Monday, October 31st. They issued a “hold” rating and a $39.00 price objective for the company. Finally, Credit Suisse Group dropped their price objective on Dell Technologies from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Tuesday, November 22nd. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Dell Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.38.
Insider Activity
In other Dell Technologies news, insider William F. Scannell sold 27,536 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $40.20, for a total transaction of $1,106,947.20. Following the completion of the transaction, the insider now directly owns 343,835 shares of the company’s stock, valued at $13,822,167. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 47.30% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Dell Technologies
Several institutional investors and hedge funds have recently bought and sold shares of DELL. Goldman Sachs Group Inc. grew its holdings in Dell Technologies by 80.7% during the first quarter. Goldman Sachs Group Inc. now owns 4,976,265 shares of the technology company’s stock valued at $249,759,000 after purchasing an additional 2,222,995 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Dell Technologies by 78.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,424,666 shares of the technology company’s stock worth $71,566,000 after acquiring an additional 624,628 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Dell Technologies by 10.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 4,693,844 shares of the technology company’s stock worth $235,584,000 after acquiring an additional 427,038 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Dell Technologies by 154.4% during the first quarter. Royal Bank of Canada now owns 642,991 shares of the technology company’s stock worth $32,272,000 after acquiring an additional 390,285 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Dell Technologies by 1.8% during the first quarter. Vanguard Group Inc. now owns 17,498,328 shares of the technology company’s stock worth $878,241,000 after acquiring an additional 301,756 shares in the last quarter. 26.53% of the stock is owned by institutional investors.
Dell Technologies Company Profile
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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).
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