Dell Technologies (NYSE:DELL) Stock Price Up 3.3% Following Analyst Upgrade

Dell Technologies Inc. (NYSE:DELL)’s stock price was up 3.3% during trading on Monday after Wells Fargo & Company raised their price target on the stock from $140.00 to $160.00. Wells Fargo & Company currently has an overweight rating on the stock. Dell Technologies traded as high as $136.47 and last traded at $136.04. Approximately 1,932,444 shares were traded during trading, a decline of 81% from the average daily volume of 10,045,463 shares. The stock had previously closed at $131.64.

Several other brokerages also recently commented on DELL. Susquehanna initiated coverage on Dell Technologies in a report on Tuesday, September 10th. They set a “neutral” rating and a $120.00 target price for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Dell Technologies in a research note on Friday, September 27th. They set a “buy” rating and a $144.00 price objective for the company. Morgan Stanley lifted their target price on shares of Dell Technologies from $136.00 to $154.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Raymond James decreased their price objective on shares of Dell Technologies from $166.00 to $160.00 and set an “outperform” rating for the company in a research note on Friday, August 30th. Finally, Fox Advisors raised shares of Dell Technologies from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 30th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $145.88.

Insider Transactions at Dell Technologies

In other Dell Technologies news, insider William F. Scannell sold 42,595 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $117.29, for a total transaction of $4,995,967.55. Following the transaction, the insider now directly owns 73,263 shares of the company’s stock, valued at $8,593,017.27. This represents a 36.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael S. Dell sold 10,000,000 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $122.40, for a total value of $1,224,000,000.00. Following the sale, the chief executive officer now owns 16,912,241 shares of the company’s stock, valued at approximately $2,070,058,298.40. This trade represents a 37.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,954,112 shares of company stock valued at $2,113,449,139 in the last three months. Corporate insiders own 46.70% of the company’s stock.

Hedge Funds Weigh In On Dell Technologies

Large investors have recently bought and sold shares of the stock. Clean Yield Group acquired a new stake in Dell Technologies in the 3rd quarter valued at $25,000. Accordant Advisory Group Inc acquired a new stake in shares of Dell Technologies in the 2nd quarter valued at $28,000. New Covenant Trust Company N.A. bought a new stake in shares of Dell Technologies in the 1st quarter worth about $30,000. True Wealth Design LLC increased its position in shares of Dell Technologies by 2,530.0% during the 3rd quarter. True Wealth Design LLC now owns 263 shares of the technology company’s stock worth $31,000 after purchasing an additional 253 shares in the last quarter. Finally, Nemes Rush Group LLC bought a new position in Dell Technologies during the 2nd quarter valued at about $33,000. 38.10% of the stock is currently owned by institutional investors and hedge funds.

Dell Technologies Stock Down 0.1 %

The stock has a market capitalization of $95.42 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 1.39 and a beta of 0.89. The stock’s 50-day simple moving average is $124.21 and its 200 day simple moving average is $126.62.

Dell Technologies (NYSE:DELL) last released its quarterly earnings results on Thursday, August 29th. The technology company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.40. Dell Technologies had a negative return on equity of 178.09% and a net margin of 4.32%. The business had revenue of $25.03 billion for the quarter, compared to analyst estimates of $24.14 billion. During the same period in the prior year, the company earned $1.44 EPS. Dell Technologies’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, equities research analysts anticipate that Dell Technologies Inc. will post 6.92 earnings per share for the current year.

Dell Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 22nd were given a dividend of $0.445 per share. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $1.78 annualized dividend and a yield of 1.31%. Dell Technologies’s dividend payout ratio (DPR) is 32.72%.

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).