TD Cowen Issues Pessimistic Forecast for Dell Technologies (NYSE:DELL) Stock Price

Dell Technologies (NYSE:DELL) had its price target reduced by TD Cowen from $128.00 to $120.00 in a research note issued to investors on Friday, Marketbeat reports. They currently have a hold rating on the technology company’s stock.

Several other research analysts have also recently weighed in on DELL. Mizuho lowered their price target on shares of Dell Technologies from $155.00 to $150.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 27th. Evercore ISI reissued an “outperform” rating and set a $150.00 price target on shares of Dell Technologies in a research report on Wednesday, November 20th. Wells Fargo & Company boosted their price objective on shares of Dell Technologies from $140.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Dell Technologies from $144.00 to $142.00 and set a “buy” rating on the stock in a report on Monday, December 2nd. Finally, Bank of America reduced their price objective on shares of Dell Technologies from $155.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Dell Technologies has an average rating of “Moderate Buy” and a consensus price target of $143.53.

Dell Technologies Trading Down 4.6 %

Shares of DELL stock opened at $102.85 on Friday. The company’s 50-day moving average price is $112.57 and its 200-day moving average price is $118.17. The stock has a market cap of $72.04 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 1.10 and a beta of 0.90. Dell Technologies has a twelve month low of $86.93 and a twelve month high of $179.70.

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 the consensus estimate of $1.83 by $0.32. The firm had revenue of $24.37 billion for the quarter, compared to analysts’ expectations of $24.67 billion. Dell Technologies had a net margin of 4.36% and a negative return on equity of 191.91%. The company’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 EPS. As a group, equities research analysts predict that Dell Technologies will post 6.93 EPS for the current year.

Dell Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Tuesday, April 22nd will be paid a dividend of $0.525 per share. The ex-dividend date is Tuesday, April 22nd. This is a positive change from Dell Technologies’s previous quarterly dividend of $0.45. This represents a $2.10 dividend on an annualized basis and a yield of 2.04%. Dell Technologies’s dividend payout ratio is 31.45%.

Insiders Place Their Bets

In related news, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $119.73, for a total transaction of $59,750,657.85. Following the sale, the director now directly owns 810,657 shares in the company, valued at approximately $97,059,962.61. This represents a 38.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Radakovich Lynn Vojvodich sold 725 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $120.00, for a total transaction of $87,000.00. Following the sale, the director now owns 23,680 shares in the company, valued at $2,841,600. The trade was a 2.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 937,407 shares of company stock worth $114,418,186 over the last three months. Company insiders own 46.70% of the company’s stock.

Institutional Trading of Dell Technologies

A number of large investors have recently made changes to their positions in DELL. Optimist Retirement Group LLC increased its stake in shares of Dell Technologies by 27.3% during the third quarter. Optimist Retirement Group LLC now owns 2,157 shares of the technology company’s stock worth $256,000 after buying an additional 463 shares during the period. abrdn plc boosted its holdings in Dell Technologies by 1,474.6% in the third quarter. abrdn plc now owns 104,630 shares of the technology company’s stock valued at $12,360,000 after purchasing an additional 97,985 shares in the last quarter. Diversify Advisory Services LLC boosted its holdings in Dell Technologies by 24.9% in the third quarter. Diversify Advisory Services LLC now owns 3,428 shares of the technology company’s stock valued at $413,000 after purchasing an additional 684 shares in the last quarter. New York State Teachers Retirement System acquired a new position in Dell Technologies in the third quarter valued at approximately $29,033,000. Finally, First Trust Direct Indexing L.P. boosted its holdings in Dell Technologies by 41.5% in the third quarter. First Trust Direct Indexing L.P. now owns 4,698 shares of the technology company’s stock valued at $557,000 after purchasing an additional 1,379 shares in the last quarter. 76.37% of the stock is currently owned by hedge funds and other institutional investors.

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).