TLDR
- Director Ellen Kullman sold 150,346 Dell (DELL) shares on March 6, 2026, for roughly $21.8 million, cutting her stake by 69.6%
- The sale came after Dell beat Q4 earnings with EPS of $3.89 vs. $3.53 expected, and revenue of $33.38 billion vs. $31.60 billion expected
- Revenue was up 39.5% year-over-year, driven by strong AI server demand in its Infrastructure Solutions Group
- Dell raised its quarterly dividend from $0.53 to $0.63 per share, with payment set for May 1
- DELL was trading around $143.74, down from a 12-month high of $168.08, with analysts holding a consensus “Moderate Buy” and average price target of $163.28
Dell Technologies director Ellen Jamison Kullman sold 150,346 Class C Common shares on March 6, 2026, at an average price of $145.13, netting just under $21.82 million. The sale reduced her direct ownership by 69.6%, leaving her with 65,662 shares.
The transaction was disclosed in a Form 4 filing with the SEC. Kullman also exercised options to acquire 150,346 shares at prices of $13.60 and $13.98, totalling around $2.05 million — a standard sell-to-cover move, though the scale still caught market attention.
The sale came days after Dell reported a strong fourth quarter on February 26. EPS came in at $3.89, well above the $3.53 consensus. Revenue hit $33.38 billion against expectations of $31.60 billion — a 39.5% jump year-over-year. The previous year’s Q4 EPS was $2.68, so the improvement was hard to ignore.
AI server demand was the headline driver. Dell’s Infrastructure Solutions Group posted strong margins, and the company’s growing backlog in AI-related hardware put it firmly in the spotlight heading into 2026.
Analyst Targets Remain Above Current Price
Following earnings, several analysts moved their price targets higher. Raymond James raised its target to $182, Mizuho went to $180, and Daiwa bumped its target to $170. Goldman Sachs, which initiated coverage in January, carries a Buy rating with a $165 target.
Citigroup trimmed its target slightly from $165 to $160 but kept a Buy. Piper Sandler moved its target down from $172 to $167, also staying Overweight. JPMorgan raised its target to $165. The consensus sits at $163.28, with 16 analysts at Buy, 6 at Hold, and 1 at Sell.
Dell also raised its quarterly dividend from $0.53 to $0.63 per share — an annualized $2.52, yielding roughly 1.8% at current prices. The dividend is payable May 1 to shareholders of record on April 21.
For Q1 2027, Dell guided EPS of approximately $2.90. Full-year FY2027 EPS guidance is set at $12.90. Analysts currently expect the company to post $6.93 EPS for the current fiscal year.
Stock Pulls Back Despite Strong Fundamentals
DELL was trading around $143.74 on Tuesday, down $2.77 on the day, against a 12-month range of $66.25 to $168.08. The 50-day moving average sits at $123.50, well below the current price, while the 200-day is at $132.42.
Market cap stands at roughly $95.25 billion. The PE ratio is 16.48 with a PEG of 0.68 — still considered relatively cheap given its growth profile.
Evercore ISI removed Dell from its top picks list while keeping an Outperform rating, pointing to memory pricing as a near-term headwind. Rising DRAM costs have been flagged as a margin risk despite strong revenue and backlog figures.
Institutional ownership stands at 76.37%, with several smaller funds initiating new positions in Q4. Dell has also been expanding its AI and edge portfolio, including the launch of the PowerEdge XR9700 and new partnerships with Unisys and Dataloop.
The stock was down approximately 1.85% on the day of the latest filings.
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