Citigroup Issues Pessimistic Forecast for Dell Technologies (NYSE:DELL) Stock Price

Dell Technologies (NYSE:DELL) had its target price cut by Citigroup from $145.00 to $105.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group reduced their price target on Dell Technologies from $165.00 to $145.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Morgan Stanley decreased their target price on shares of Dell Technologies from $154.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Loop Capital dropped their price target on shares of Dell Technologies from $185.00 to $130.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. JPMorgan Chase & Co. lowered their target price on shares of Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Finally, TD Cowen cut their price target on shares of Dell Technologies from $128.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday, February 28th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $138.88.

Dell Technologies Stock Performance

Shares of NYSE:DELL opened at $83.45 on Monday. The firm has a market cap of $58.23 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 1.10 and a beta of 0.94. Dell Technologies has a 52 week low of $66.25 and a 52 week high of $179.70. The firm’s fifty day moving average is $96.90 and its 200-day moving average is $112.68.

Dell Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Tuesday, April 22nd will be issued a $0.525 dividend. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Tuesday, April 22nd. This is a positive change from Dell Technologies’s previous quarterly dividend of $0.45. Dell Technologies’s dividend payout ratio is currently 33.76%.

Insider Buying and Selling at Dell Technologies

In other Dell Technologies news, CAO Brunilda Rios sold 926 shares of the firm’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $93.29, for a total transaction of $86,386.54. Following the transaction, the chief accounting officer now directly owns 37,948 shares in the company, valued at approximately $3,540,168.92. This trade represents a 2.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Radakovich Lynn Vojvodich sold 725 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $120.00, for a total transaction of $87,000.00. Following the completion of the sale, the director now owns 23,680 shares of the company’s stock, valued at approximately $2,841,600. This represents a 2.97 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 46.70% of the company’s stock.

Hedge Funds Weigh In On Dell Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Optimist Retirement Group LLC boosted its position 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 purchasing an additional 463 shares during the last quarter. Orion Portfolio Solutions LLC grew its position in Dell Technologies by 24.0% during the third quarter. Orion Portfolio Solutions LLC now owns 2,319 shares of the technology company’s stock valued at $275,000 after buying an additional 449 shares during the period. Coldstream Capital Management Inc. purchased a new stake in Dell Technologies during the third quarter worth about $313,000. Virtu Financial LLC bought a new stake in Dell Technologies in the third quarter worth about $894,000. Finally, Morse Asset Management Inc boosted its stake in Dell Technologies by 180.1% in the third quarter. Morse Asset Management Inc now owns 21,223 shares of the technology company’s stock valued at $2,516,000 after acquiring an additional 13,646 shares during the last quarter. Hedge funds and other institutional investors own 76.37% 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).