Citigroup Boosts Dell Technologies (NYSE:DELL) Price Target to $170.00

Dell Technologies (NYSE:DELLFree Report) had its price objective lifted by Citigroup from $125.00 to $170.00 in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They currently have a buy rating on the technology company’s stock.

Several other research analysts have also recently commented on the company. Barclays raised their target price on Dell Technologies from $94.00 to $98.00 and gave the stock an underweight rating in a research report on Tuesday. UBS Group lifted their target price on shares of Dell Technologies from $113.00 to $141.00 and gave the company a buy rating in a research report on Friday, April 19th. TD Cowen raised their price target on shares of Dell Technologies from $75.00 to $105.00 and gave the stock a market perform rating in a research note on Friday, March 1st. Sanford C. Bernstein upped their price objective on Dell Technologies from $120.00 to $155.00 and gave the company an outperform rating in a research note on Monday. Finally, The Goldman Sachs Group raised their target price on Dell Technologies from $87.00 to $129.00 and gave the stock a buy rating in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve 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 an average price target of $122.00.

Check Out Our Latest Research Report on Dell Technologies

Dell Technologies Price Performance

NYSE DELL opened at $153.64 on Tuesday. The company’s fifty day moving average is $124.87 and its two-hundred day moving average is $97.11. The firm has a market capitalization of $109.67 billion, a price-to-earnings ratio of 35.16, a P/E/G ratio of 2.30 and a beta of 0.87. Dell Technologies has a 52-week low of $44.45 and a 52-week high of $162.71.

Dell Technologies (NYSE:DELLGet Free Report) last released its earnings results on Thursday, February 29th. The technology company reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.47. Dell Technologies had a negative return on equity of 172.07% and a net margin of 3.63%. The business had revenue of $22.32 billion for the quarter, compared to the consensus estimate of $22.17 billion. During the same period last year, the business earned $1.55 earnings per share. The firm’s revenue for the quarter was down 10.9% compared to the same quarter last year. As a group, sell-side analysts expect that Dell Technologies will post 6.74 earnings per share for the current fiscal year.

Dell Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 3rd. Shareholders of record on Tuesday, April 23rd were given a dividend of $0.445 per share. This is a boost from Dell Technologies’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, April 22nd. This represents a $1.78 annualized dividend and a dividend yield of 1.16%. Dell Technologies’s payout ratio is presently 40.73%.

Insider Transactions at Dell Technologies

In related news, General Counsel Richard J. Rothberg sold 93,954 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $132.95, for a total value of $12,491,184.30. Following the completion of the sale, the general counsel now owns 86,836 shares in the company, valued at $11,544,846.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Dell Technologies news, General Counsel Richard J. Rothberg sold 93,954 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $132.95, for a total value of $12,491,184.30. Following the completion of the sale, the general counsel now owns 86,836 shares of the company’s stock, valued at $11,544,846.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 42,545 shares of Dell Technologies stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $134.37, for a total transaction of $5,716,771.65. Following the transaction, the director now directly owns 535,816 shares in the company, valued at $71,997,595.92. The disclosure for this sale can be found here. Insiders have sold 6,382,204 shares of company stock worth $718,452,037 in the last three months. Insiders own 48.60% of the company’s stock.

Institutional Investors Weigh In On Dell Technologies

Several large investors have recently modified their holdings of DELL. Atria Investments Inc grew its position in shares of Dell Technologies by 13.9% in the 1st quarter. Atria Investments Inc now owns 37,522 shares of the technology company’s stock valued at $4,282,000 after purchasing an additional 4,583 shares during the period. Swedbank AB bought a new stake in Dell Technologies in the 1st quarter valued at $28,459,000. Citizens Financial Group Inc. RI boosted its stake in Dell Technologies by 66.2% in the 1st quarter. Citizens Financial Group Inc. RI now owns 6,666 shares of the technology company’s stock worth $761,000 after purchasing an additional 2,656 shares during the period. New Covenant Trust Company N.A. bought a new position in Dell Technologies during the 1st quarter worth about $30,000. Finally, Plato Investment Management Ltd raised its stake in shares of Dell Technologies by 2,857.4% in the 1st quarter. Plato Investment Management Ltd now owns 20,554 shares of the technology company’s stock valued at $2,345,000 after purchasing an additional 19,859 shares during the period. 38.10% of the stock is currently owned by institutional investors.

About Dell Technologies

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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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Analyst Recommendations for Dell Technologies (NYSE:DELL)

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