Wells Fargo & Company Boosts Dell Technologies (NYSE:DELL) Price Target to $170.00

Dell Technologies (NYSE:DELLFree Report) had its price objective raised by Wells Fargo & Company from $140.00 to $170.00 in a research report report published on Tuesday, MarketBeat.com reports. The brokerage currently has an overweight rating on the technology company’s stock.

A number of other analysts have also recently issued reports on the stock. TD Cowen increased their price objective 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. The Goldman Sachs Group boosted their price objective on Dell Technologies from $87.00 to $129.00 and gave the company a buy rating in a research report on Monday, March 4th. JPMorgan Chase & Co. increased their target price on Dell Technologies from $125.00 to $155.00 and gave the stock an overweight rating in a research report on Monday. Evercore ISI boosted their price target on Dell Technologies from $140.00 to $165.00 and gave the stock an outperform rating in a report on Thursday, May 16th. Finally, Morgan Stanley lifted their price objective on shares of Dell Technologies from $128.00 to $152.00 and gave the company an overweight rating in a research report on Wednesday, May 15th. One research 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. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $122.00.

View Our Latest Analysis on Dell Technologies

Dell Technologies Price Performance

NYSE:DELL opened at $153.64 on Tuesday. The firm has a market capitalization of $109.67 billion, a price-to-earnings ratio of 35.16, a price-to-earnings-growth ratio of 2.30 and a beta of 0.87. The business has a fifty day moving average price of $124.87 and a 200-day moving average price of $97.11. Dell Technologies has a one year low of $44.45 and a one year high of $162.71.

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

Dell Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd were paid a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 1.16%. This is a positive change from Dell Technologies’s previous quarterly dividend of $0.37. The ex-dividend date was Monday, April 22nd. Dell Technologies’s dividend payout ratio (DPR) is presently 40.73%.

Insider Activity

In other Dell Technologies news, Director Iv (Gp) L.L.C. Slta sold 42,545 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $134.37, for a total transaction of $5,716,771.65. Following the transaction, the director now owns 535,816 shares in the company, valued at $71,997,595.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Dell Technologies news, insider Jennifer D. Saavedra sold 18,260 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $120.10, for a total value of $2,193,026.00. Following the transaction, the insider now owns 206,961 shares of the company’s stock, valued at approximately $24,856,016.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 42,545 shares of the business’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $134.37, for a total transaction of $5,716,771.65. Following the sale, the director now directly owns 535,816 shares of the company’s stock, valued at $71,997,595.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,382,204 shares of company stock valued at $718,452,037. 48.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dell Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Dell Technologies by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 17,595,478 shares of the technology company’s stock valued at $1,346,054,000 after acquiring an additional 647,192 shares in the last quarter. Boston Partners raised its position in Dell Technologies by 2.1% during the 4th quarter. Boston Partners now owns 9,575,882 shares of the technology company’s stock valued at $733,564,000 after purchasing an additional 197,435 shares in the last quarter. FMR LLC lifted its holdings in shares of Dell Technologies by 59.6% in the 3rd quarter. FMR LLC now owns 9,376,674 shares of the technology company’s stock worth $646,053,000 after buying an additional 3,499,760 shares during the period. Capital World Investors purchased a new position in shares of Dell Technologies during the first quarter valued at $835,946,000. Finally, Morgan Stanley raised its holdings in shares of Dell Technologies by 96.9% in the third quarter. Morgan Stanley now owns 5,023,755 shares of the technology company’s stock valued at $346,137,000 after acquiring an additional 2,472,866 shares in the last quarter. Institutional investors own 38.10% of the company’s stock.

Dell Technologies Company Profile

(Get Free Report)

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).

Further Reading

Analyst Recommendations for Dell Technologies (NYSE:DELL)

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