JPMorgan Chase & Co. Cuts Dell Technologies (NYSE:DELL) Price Target to $150.00

Dell Technologies (NYSE:DELL) had its price objective lowered by equities research analysts at JPMorgan Chase & Co. from $160.00 to $150.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 32.83% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the stock. Citigroup decreased their price target on shares of Dell Technologies from $160.00 to $156.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Morgan Stanley lifted their price objective on Dell Technologies from $136.00 to $154.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Evercore ISI reissued an “outperform” rating and issued a $150.00 price objective on shares of Dell Technologies in a research report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Dell Technologies from $144.00 to $142.00 and set a “buy” rating on the stock in a research report on Monday, December 2nd. Finally, Mizuho lowered their price objective on Dell Technologies from $155.00 to $150.00 and set an “outperform” rating for the company in a research note on Wednesday, November 27th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Dell Technologies has an average rating of “Moderate Buy” and a consensus target price of $147.47.

Dell Technologies Stock Up 1.3 %

NYSE:DELL opened at $112.93 on Tuesday. The firm’s fifty day simple moving average is $113.92 and its 200-day simple moving average is $117.18. Dell Technologies has a fifty-two week low of $80.49 and a fifty-two week high of $179.70. The stock has a market cap of $79.10 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 0.91 and a beta of 0.90.

Dell Technologies (NYSE:DELL) last announced its quarterly earnings results on Tuesday, November 26th. The technology company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.83 by $0.32. Dell Technologies had a negative return on equity of 191.91% and a net margin of 4.36%. The business had revenue of $24.37 billion during the quarter, compared to analysts’ expectations of $24.67 billion. During the same quarter last year, the business posted $1.62 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. Equities analysts anticipate that Dell Technologies will post 6.92 earnings per share for the current year.

Insider Activity at Dell Technologies

In other Dell Technologies news, Director Radakovich Lynn Vojvodich sold 725 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $132.28, for a total value of $95,903.00. Following the completion of the sale, the director now directly owns 23,680 shares of the company’s stock, valued at approximately $3,132,390.40. This represents a 2.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director V (Gp) L.L.C. Slta sold 325,167 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $124.52, for a total transaction of $40,489,794.84. Following the completion of the sale, the director now owns 810,657 shares in the company, valued at $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. Insiders have sold 946,132 shares of company stock worth $115,660,009 over the last quarter. 46.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dell Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Dell Technologies by 361.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,623 shares of the technology company’s stock valued at $311,000 after acquiring an additional 2,054 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Dell Technologies by 1,290.7% in the third quarter. Exchange Traded Concepts LLC now owns 5,076 shares of the technology company’s stock worth $602,000 after buying an additional 4,711 shares during the period. Redhawk Wealth Advisors Inc. raised its position in Dell Technologies by 11.9% during the third quarter. Redhawk Wealth Advisors Inc. now owns 1,885 shares of the technology company’s stock valued at $223,000 after buying an additional 200 shares during the period. Wesbanco Bank Inc. lifted its stake in Dell Technologies by 38.2% in the 3rd quarter. Wesbanco Bank Inc. now owns 29,181 shares of the technology company’s stock worth $3,459,000 after acquiring an additional 8,065 shares in the last quarter. Finally, Creative Planning boosted its position in Dell Technologies by 16.8% during the 3rd quarter. Creative Planning now owns 98,961 shares of the technology company’s stock worth $11,435,000 after acquiring an additional 14,217 shares during the period. 76.37% of the stock is owned by institutional investors and hedge funds.

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).