Dell Technologies (NYSE:DELL) Shares Down 3.1% on Analyst Downgrade

Shares of Dell Technologies Inc. (NYSE:DELL) dropped 3.1% on Monday after The Goldman Sachs Group lowered their price target on the stock from $165.00 to $145.00. The Goldman Sachs Group currently has a buy rating on the stock. Dell Technologies traded as low as $98.10 and last traded at $99.59. Approximately 3,900,707 shares traded hands during mid-day trading, a decline of 55% from the average daily volume of 8,593,667 shares. The stock had previously closed at $102.76.

A number of other brokerages also recently weighed in on DELL. Citigroup cut their price objective on Dell Technologies from $156.00 to $145.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Evercore ISI reaffirmed an “outperform” rating and issued a $150.00 price target on shares of Dell Technologies in a research report on Wednesday, November 20th. JPMorgan Chase & Co. decreased their target price on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Bank of America dropped their price target on Dell Technologies from $155.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. Finally, UBS Group reduced their price objective on Dell Technologies from $158.00 to $150.00 and set a “buy” rating for the company in a research report on Friday. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $144.47.

Insider Buying and Selling at Dell Technologies

In related news, Director V (Gp) L.L.C. Slta sold 103,745 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 777,347 shares in the company, valued at $97,386,032.16. This represents a 11.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Radakovich Lynn Vojvodich sold 725 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $120.00, for a total transaction of $87,000.00. Following the completion of the transaction, the director now owns 23,680 shares of the company’s stock, valued at $2,841,600. This trade represents a 2.97 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 929,407 shares of company stock valued at $113,411,626. 46.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dell Technologies

Large investors have recently bought and sold shares of the business. Optimist Retirement Group LLC raised its stake in Dell Technologies by 27.3% during the 3rd 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. US Bancorp DE increased its holdings in Dell Technologies by 11.7% during the 3rd quarter. US Bancorp DE now owns 29,730 shares of the technology company’s stock worth $3,524,000 after purchasing an additional 3,116 shares in the last quarter. Stephens Inc. AR raised its stake in shares of Dell Technologies by 89.4% in the 3rd quarter. Stephens Inc. AR now owns 10,286 shares of the technology company’s stock valued at $1,219,000 after purchasing an additional 4,854 shares during the period. Focus Financial Network Inc. lifted its holdings in shares of Dell Technologies by 99.4% in the third quarter. Focus Financial Network Inc. now owns 4,044 shares of the technology company’s stock valued at $479,000 after purchasing an additional 2,016 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Dell Technologies by 74.3% during the third quarter. Farther Finance Advisors LLC now owns 840 shares of the technology company’s stock worth $100,000 after buying an additional 358 shares during the period. 76.37% of the stock is currently owned by institutional investors and hedge funds.

Dell Technologies Stock Down 7.0 %

The firm has a market capitalization of $66.93 billion, a P/E ratio of 16.88, a P/E/G ratio of 1.10 and a beta of 0.90. The stock has a fifty day moving average of $112.10 and a 200-day moving average of $118.30.

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 $0.525 dividend. This is a positive change from Dell Technologies’s previous quarterly dividend of $0.45. This represents a $2.10 annualized dividend and a yield of 2.20%. The ex-dividend date is Tuesday, April 22nd. Dell Technologies’s payout ratio is presently 33.76%.

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).