Bank of America Cuts Dell Technologies (NYSE:DELL) Price Target to $150.00

Dell Technologies (NYSE:DELL) had its target price cut by Bank of America from $155.00 to $150.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other equities analysts also recently commented on the stock. Citigroup reduced their price objective on shares of Dell Technologies from $160.00 to $156.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Wells Fargo & Company boosted their price target on Dell Technologies from $140.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. OTR Global upgraded Dell Technologies from a “negative” rating to a “positive” rating in a research note on Wednesday, February 12th. JPMorgan Chase & Co. decreased their price target on shares of Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of Dell Technologies in a research report on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $145.65.

Dell Technologies Stock Down 0.8 %

Shares of NYSE DELL opened at $120.00 on Tuesday. Dell Technologies has a twelve month low of $80.49 and a twelve month high of $179.70. The business has a fifty day simple moving average of $113.11 and a two-hundred day simple moving average of $117.40. The firm has a market cap of $84.05 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 1.08 and a beta of 0.90.

Dell Technologies (NYSE:DELL) last released its quarterly earnings data on Tuesday, November 26th. The technology company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.32. The company had revenue of $24.37 billion during the quarter, compared to analyst estimates of $24.67 billion. Dell Technologies had a net margin of 4.36% and a negative return on equity of 191.91%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.62 earnings per share. On average, research analysts expect that Dell Technologies will post 6.93 earnings per share for the current year.

Dell Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 22nd were given a $0.445 dividend. The ex-dividend date was Wednesday, January 22nd. This represents a $1.78 dividend on an annualized basis and a yield of 1.48%. Dell Technologies’s dividend payout ratio is currently 31.45%.

Insider Buying and Selling

In other Dell Technologies news, Director Radakovich Lynn Vojvodich sold 725 shares of Dell Technologies stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $120.00, for a total transaction of $87,000.00. Following the completion of the transaction, the director now owns 23,680 shares in the company, valued at approximately $2,841,600. This trade represents a 2.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Yvonne Mcgill sold 8,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $125.82, for a total value of $1,006,560.00. Following the completion of the sale, the chief financial officer now owns 228,419 shares in the company, valued at $28,739,678.58. The trade was a 3.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 937,407 shares of company stock worth $114,418,186. 46.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of DELL. State Street Corp lifted its stake in shares of Dell Technologies by 92.4% in the 3rd quarter. State Street Corp now owns 12,767,011 shares of the technology company’s stock valued at $1,513,401,000 after purchasing an additional 6,131,507 shares during the period. Norges Bank acquired a new position in shares of Dell Technologies in the fourth quarter worth about $455,029,000. Vanguard Group Inc. boosted its stake in shares of Dell Technologies by 10.5% during the 4th quarter. Vanguard Group Inc. now owns 27,960,560 shares of the technology company’s stock worth $3,222,175,000 after acquiring an additional 2,662,407 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Dell Technologies by 71.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,317,829 shares of the technology company’s stock valued at $746,596,000 after acquiring an additional 2,641,456 shares during the period. Finally, International Assets Investment Management LLC increased its stake in shares of Dell Technologies by 19,376.1% in the 3rd quarter. International Assets Investment Management LLC now owns 2,427,699 shares of the technology company’s stock valued at $287,779,000 after purchasing an additional 2,415,234 shares in the last quarter. 76.37% of the stock is owned by institutional investors and hedge funds.

Dell Technologies Company Profile

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).