Dell Technologies Inc. (NYSE:DELL – Get Rating) gapped down prior to trading on Friday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $48.00 to $45.00. The stock had previously closed at $40.17, but opened at $39.06. Dell Technologies shares last traded at $40.70, with a volume of 1,916,688 shares.
DELL has been the topic of several other reports. Citigroup reduced their price target on Dell Technologies from $53.00 to $50.00 in a report on Friday. JPMorgan Chase & Co. reduced their price target on Dell Technologies from $50.00 to $47.00 and set an “overweight” rating on the stock in a report on Friday. Wells Fargo & Company dropped their price objective on Dell Technologies from $58.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 22nd. Raymond James dropped their price objective on Dell Technologies from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Bank of America dropped their price objective on Dell Technologies from $60.00 to $55.00 in a research note on Tuesday, November 22nd. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Dell Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $47.69.
Insider Activity
In other news, insider William F. Scannell sold 91,938 shares of the stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $42.62, for a total transaction of $3,918,397.56. Following the completion of the sale, the insider now owns 178,627 shares in the company, valued at approximately $7,613,082.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 47.30% of the company’s stock.
Hedge Funds Weigh In On Dell Technologies
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. purchased a new position in Dell Technologies in the 1st quarter worth $27,000. Accurate Wealth Management LLC purchased a new position in Dell Technologies in the 4th quarter worth $26,000. Boulder Wealth Advisors LLC purchased a new position in Dell Technologies in the 4th quarter worth $25,000. Romano Brothers AND Company purchased a new position in Dell Technologies in the 4th quarter worth $27,000. Finally, CI Investments Inc. raised its stake in Dell Technologies by 103.8% in the 4th quarter. CI Investments Inc. now owns 699 shares of the technology company’s stock worth $28,000 after acquiring an additional 356 shares during the last quarter. Hedge funds and other institutional investors own 26.42% of the company’s stock.
Dell Technologies Stock Performance
The company has a market cap of $29.18 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 0.69 and a beta of 1.03. The stock has a 50 day moving average of $41.07 and a 200-day moving average of $40.26.
Dell Technologies Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 3rd. Shareholders of record on Wednesday, January 25th were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Tuesday, January 24th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.24%. Dell Technologies’s payout ratio is currently 55.46%.
Dell Technologies Company Profile
Dell Technologies, Inc is a holding company, which engages in the provision of information technology hardware, software, and service solutions through its subsidiaries. It operates through the following segments: Infrastructure Solutions Group (ISG), Client Solutions Group (CSG), and VMware. The ISG segment includes servers, networking, and storage, as well as services and third-party software and peripherals that are closely tied to the sale of ISG hardware.