TD Cowen Cuts Dell Technologies (NYSE:DELL) Price Target to $128.00

Dell Technologies (NYSE:DELL) had its target price lowered by TD Cowen from $155.00 to $128.00 in a research note issued to investors on Friday morning, MarketBeat.com reports. The brokerage currently has a hold rating on the technology company’s stock.

Other equities analysts have also issued research reports about the stock. Barclays upgraded shares of Dell Technologies from an underweight rating to an equal weight rating and set a $97.00 target price for the company in a research report on Tuesday, August 13th. Loop Capital lifted their price objective on shares of Dell Technologies from $125.00 to $185.00 and gave the company a buy rating in a research note on Tuesday, May 28th. JPMorgan Chase & Co. lifted their price objective on shares of Dell Technologies from $155.00 to $160.00 and gave the company an overweight rating in a research note on Thursday, August 15th. Citigroup reduced their price objective on shares of Dell Technologies from $170.00 to $155.00 and set a buy rating for the company in a research note on Thursday, August 15th. Finally, Sanford C. Bernstein raised their price target on shares of Dell Technologies from $120.00 to $155.00 and gave the company an outperform rating in a report on Monday, May 20th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Dell Technologies presently has a consensus rating of Moderate Buy and a consensus target price of $136.80.

Dell Technologies Trading Up 4.3 %

NYSE:DELL opened at $115.54 on Friday. The firm’s 50 day moving average is $120.21 and its 200 day moving average is $122.49. Dell Technologies has a 12 month low of $53.62 and a 12 month high of $179.70. The stock has a market capitalization of $81.95 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 1.43 and a beta of 0.92.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings results on Thursday, August 29th. The technology company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.40. Dell Technologies had a negative return on equity of 182.71% and a net margin of 4.32%. The firm had revenue of $25.03 billion for the quarter, compared to analysts’ expectations of $24.14 billion. During the same quarter in the prior year, the firm earned $1.44 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. Research analysts predict that Dell Technologies will post 6.86 earnings per share for the current year.

Dell Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Tuesday, July 23rd were paid a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Tuesday, July 23rd. Dell Technologies’s dividend payout ratio is presently 36.33%.

Insiders Place Their Bets

In other Dell Technologies news, Director V (Gp) L.L.C. Slta sold 389,189 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $158.79, for a total value of $61,799,321.31. Following the completion of the sale, the director now directly owns 731,612 shares of the company’s stock, valued at $116,172,669.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Dell Technologies news, Director V (Gp) L.L.C. Slta sold 389,189 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $158.79, for a total value of $61,799,321.31. Following the transaction, the director now owns 731,612 shares in the company, valued at $116,172,669.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael S. Dell sold 1,340,823 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $133.67, for a total transaction of $179,227,810.41. Following the completion of the transaction, the chief executive officer now owns 28,931,999 shares in the company, valued at approximately $3,867,340,306.33. The disclosure for this sale can be found here. Insiders sold 7,041,697 shares of company stock valued at $961,072,399 over the last three months. Insiders own 46.70% of the company’s stock.

Hedge Funds Weigh In On Dell Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Accordant Advisory Group Inc purchased a new position in shares of Dell Technologies during the second quarter valued at about $28,000. Massmutual Trust Co. FSB ADV increased its position in shares of Dell Technologies by 58.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 223 shares of the technology company’s stock valued at $25,000 after buying an additional 82 shares during the period. Nemes Rush Group LLC purchased a new position in shares of Dell Technologies during the second quarter valued at about $33,000. Crewe Advisors LLC purchased a new position in shares of Dell Technologies during the second quarter valued at about $34,000. Finally, New Covenant Trust Company N.A. purchased a new position in shares of Dell Technologies during the first quarter valued at about $30,000. Hedge funds and other institutional investors own 38.10% of the company’s stock.

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).