Dell Technologies’ (DELL) “Underweight” Rating Reiterated at Morgan Stanley

Morgan Stanley reiterated their underweight rating on shares of Dell Technologies (NYSE:DELL) in a research note issued to investors on Monday, Marketbeat.com reports. They currently have a $110.00 target price on the technology company’s stock, down from their previous target price of $144.00.

Other equities analysts also recently issued reports about the company. Bank of America boosted their price objective on Dell Technologies from $167.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. Evercore ISI set a $180.00 price objective on Dell Technologies and gave the stock an “outperform” rating in a report on Monday, November 3rd. Cowen restated a “hold” rating on shares of Dell Technologies in a report on Friday, August 29th. Fox Advisors lowered shares of Dell Technologies from an “overweight” rating to an “equal weight” rating in a research note on Friday, August 29th. Finally, Zacks Research upgraded Dell Technologies from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $161.35.

Dell Technologies Price Performance

NYSE DELL opened at $119.27 on Monday. Dell Technologies has a 12 month low of $66.25 and a 12 month high of $168.08. The company has a 50-day moving average of $143.79 and a 200-day moving average of $129.29. The company has a market cap of $80.20 billion, a P/E ratio of 17.54, a P/E/G ratio of 0.84 and a beta of 1.02.

Dell Technologies (NYSE:DELL) last released its quarterly earnings data on Thursday, October 5th. The technology company reported $1.68 earnings per share for the quarter. Dell Technologies had a negative return on equity of 236.21% and a net margin of 4.73%.The business had revenue of $26.43 billion for the quarter. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. As a group, equities research analysts anticipate that Dell Technologies will post 6.93 EPS for the current year.

Dell Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Tuesday, October 21st were given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 1.8%. The ex-dividend date was Tuesday, October 21st. Dell Technologies’s dividend payout ratio (DPR) is presently 30.88%.

Insider Buying and Selling at Dell Technologies

In other news, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of Dell Technologies stock in a transaction on Monday, September 22nd. The shares were sold at an average price of $135.98, for a total transaction of $112,183,364.02. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director V (Gp) L.L.C. Slta sold 565,000 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $132.32, for a total value of $74,760,800.00. The SEC filing for this sale provides additional information. Insiders have sold 4,537,755 shares of company stock worth $642,644,973 in the last ninety days. 42.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dell Technologies

Several hedge funds have recently modified their holdings of DELL. Norges Bank bought a new position in Dell Technologies in the second quarter valued at about $528,279,000. Wellington Management Group LLP raised its position in Dell Technologies by 4,279.1% during the 3rd quarter. Wellington Management Group LLP now owns 3,005,776 shares of the technology company’s stock worth $426,129,000 after purchasing an additional 2,937,137 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Dell Technologies by 82.3% in the third quarter. Invesco Ltd. now owns 4,855,154 shares of the technology company’s stock worth $688,315,000 after acquiring an additional 2,191,317 shares during the period. Franklin Resources Inc. lifted its position in shares of Dell Technologies by 541.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,996,557 shares of the technology company’s stock worth $283,052,000 after purchasing an additional 1,685,529 shares during the period. Finally, Boston Partners grew its holdings in Dell Technologies by 34.4% during the 1st quarter. Boston Partners now owns 5,132,877 shares of the technology company’s stock worth $466,418,000 after acquiring an additional 1,312,600 shares during the period. Institutional investors own 76.37% of the company’s stock.

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).