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

Dell Technologies (NYSE:DELL) had its target price lowered by Bank of America from $155.00 to $150.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

DELL has been the subject of a number of other reports. Citigroup cut their price objective on shares of Dell Technologies from $160.00 to $156.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Melius Research increased their price objective on shares of Dell Technologies from $140.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Morgan Stanley cut their price objective on shares of Dell Technologies from $154.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Wells Fargo & Company increased 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. Finally, JPMorgan Chase & Co. cut their price objective on shares of Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $145.65.

Dell Technologies Stock Up 5.2 %

Shares of NYSE:DELL opened at $120.35 on Tuesday. The firm’s 50 day moving average price is $112.99 and its 200-day moving average price is $117.25. Dell Technologies has a twelve month low of $80.49 and a twelve month high of $179.70. The stock has a market capitalization of $84.30 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 0.91 and a beta of 0.90.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings data on Tuesday, November 26th. The technology company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.32. Dell Technologies had a net margin of 4.36% and a negative return on equity of 191.91%. The firm had revenue of $24.37 billion for the quarter, compared to analysts’ expectations of $24.67 billion. During the same quarter in the prior year, the business earned $1.62 EPS. The business’s quarterly revenue was up 9.5% on a year-over-year basis. Analysts expect that Dell Technologies will post 6.92 earnings per share for the current fiscal year.

Dell Technologies Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the business’s stock in a transaction 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 completion of the sale, the director now directly owns 810,657 shares of the company’s stock, valued at approximately $97,059,962.61. The trade was a 38.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director V (Gp) L.L.C. Slta sold 103,745 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $125.28, for a total transaction of $12,997,173.60. Following the sale, the director now directly owns 777,347 shares of the company’s stock, valued at $97,386,032.16. This represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 945,407 shares of company stock valued at $115,564,106 over the last three months. 46.70% of the stock is owned by company insiders.

Institutional Trading of Dell Technologies

A number of large investors have recently made changes to their positions in DELL. Creative Planning lifted its stake in Dell Technologies by 16.8% in the third quarter. Creative Planning now owns 98,961 shares of the technology company’s stock worth $11,435,000 after acquiring an additional 14,217 shares during the period. Optimist Retirement Group LLC lifted its stake in Dell Technologies by 27.3% in the third quarter. Optimist Retirement Group LLC now owns 2,157 shares of the technology company’s stock worth $256,000 after acquiring an additional 463 shares during the period. Blue Trust Inc. lifted its stake in Dell Technologies by 132.1% in the third quarter. Blue Trust Inc. now owns 1,409 shares of the technology company’s stock worth $167,000 after acquiring an additional 802 shares during the period. Raymond James & Associates lifted its stake in Dell Technologies by 21.4% in the third quarter. Raymond James & Associates now owns 586,858 shares of the technology company’s stock worth $69,566,000 after acquiring an additional 103,296 shares during the period. Finally, Cyndeo Wealth Partners LLC lifted its stake in Dell Technologies by 10.6% in the third quarter. Cyndeo Wealth Partners LLC now owns 4,626 shares of the technology company’s stock worth $548,000 after acquiring an additional 443 shares during the period. 76.37% of the stock is owned by hedge funds and other institutional investors.

About Dell Technologies

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).