Dell Technologies (NYSE:DELL) Shares Down 3.2% Following Analyst Downgrade

Dell Technologies Inc. (NYSE:DELL)’s stock price traded down 3.2% on Thursday after Morgan Stanley lowered their price target on the stock from $154.00 to $128.00. Morgan Stanley currently has an overweight rating on the stock. Dell Technologies traded as low as $109.26 and last traded at $109.34. 2,275,012 shares were traded during mid-day trading, a decline of 71% from the average session volume of 7,886,983 shares. The stock had previously closed at $112.92.

Several other analysts have also weighed in on the stock. OTR Global upgraded shares of Dell Technologies from a “negative” rating to a “positive” rating in a research note on Wednesday. Citigroup reduced their price target on shares of Dell Technologies from $160.00 to $156.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Evercore ISI reissued 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. cut their price objective on shares of Dell Technologies from $160.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Barclays lifted their price objective on shares of Dell Technologies from $106.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 27th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.94.

Insider Transactions at Dell Technologies

In other news, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $119.73, for a total value of $59,750,657.85. Following the sale, the director now directly owns 810,657 shares of the company’s stock, valued at approximately $97,059,962.61. This represents a 38.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Yvonne Mcgill sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $143.24, for a total transaction of $1,145,920.00. Following the completion of the transaction, the chief financial officer now owns 236,419 shares in the company, valued at approximately $33,864,657.56. This trade represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 946,132 shares of company stock valued at $115,660,009. 46.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DELL. State Street Corp grew its position in Dell Technologies by 92.4% during the third quarter. State Street Corp now owns 12,767,011 shares of the technology company’s stock valued at $1,513,401,000 after acquiring an additional 6,131,507 shares during the last quarter. Norges Bank bought a new position in shares of Dell Technologies in the fourth quarter worth approximately $455,029,000. Vanguard Group Inc. grew its holdings in shares of Dell Technologies by 10.5% in the fourth quarter. Vanguard Group Inc. now owns 27,960,560 shares of the technology company’s stock worth $3,222,175,000 after purchasing an additional 2,662,407 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Dell Technologies by 71.8% in the third quarter. Geode Capital Management LLC now owns 6,317,829 shares of the technology company’s stock worth $746,596,000 after purchasing an additional 2,641,456 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Dell Technologies by 19,376.1% in the third quarter. International Assets Investment Management LLC now owns 2,427,699 shares of the technology company’s stock worth $287,779,000 after purchasing an additional 2,415,234 shares during the last quarter. 76.37% of the stock is currently owned by institutional investors.

Dell Technologies Stock Down 2.4 %

The stock has a market cap of $77.17 billion, a P/E ratio of 19.47, a PEG ratio of 0.91 and a beta of 0.90. The firm’s fifty day moving average price is $113.66 and its 200-day moving average price is $117.15.

Dell Technologies (NYSE:DELL) last announced its quarterly earnings results on Tuesday, November 26th. The technology company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.32. Dell Technologies had a negative return on equity of 191.91% and a net margin of 4.36%. The company had revenue of $24.37 billion during the quarter, compared to analyst estimates of $24.67 billion. During the same quarter last year, the firm posted $1.62 earnings per share. The firm’s revenue was up 9.5% on a year-over-year basis. Sell-side analysts predict that Dell Technologies Inc. will post 6.92 earnings per share for the current year.

Dell Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Wednesday, January 22nd were given a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 1.62%. The ex-dividend date was Wednesday, January 22nd. Dell Technologies’s dividend payout ratio is currently 31.45%.

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).