Wells Fargo & Company Lowers Dell Technologies (NYSE:DELL) Price Target to $150.00

Dell Technologies (NYSE:DELL) had its target price cut by Wells Fargo & Company from $175.00 to $150.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 50.14% from the company’s current price.

DELL has been the topic of a number of other research reports. Morgan Stanley restated an “overweight” rating and issued a $155.00 target price on shares of Dell Technologies in a report on Monday, June 17th. Loop Capital increased their price objective on Dell Technologies from $125.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Sanford C. Bernstein lifted their target price on Dell Technologies from $120.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, May 20th. Citigroup increased their price target on Dell Technologies from $125.00 to $170.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Finally, Barclays raised shares of Dell Technologies from an “underweight” rating to an “equal weight” rating and set a $97.00 price objective on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.69.

Dell Technologies Stock Up 4.9 %

NYSE DELL opened at $99.91 on Wednesday. Dell Technologies has a 52 week low of $53.62 and a 52 week high of $179.70. The business has a 50 day moving average price of $127.42 and a 200-day moving average price of $120.36. The company has a market cap of $70.87 billion, a price-to-earnings ratio of 20.39, a P/E/G ratio of 1.34 and a beta of 0.92.

Dell Technologies (NYSE:DELL) last posted its quarterly earnings results on Thursday, May 30th. The technology company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.04. Dell Technologies had a net margin of 4.00% and a negative return on equity of 173.72%. The business had revenue of $22.24 billion during the quarter, compared to the consensus estimate of $21.70 billion. On average, equities research analysts anticipate that Dell Technologies will post 6.85 earnings per share for the current year.

Insider Activity

In other Dell Technologies news, Director V (Gp) L.L.C. Slta sold 389,189 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $158.79, for a total value of $61,799,321.31. Following the completion of the sale, the director now directly owns 731,612 shares of the company’s stock, valued at $116,172,669.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Dell Technologies news, Director V (Gp) L.L.C. Slta sold 389,189 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $158.79, for a total transaction of $61,799,321.31. Following the sale, the director now directly owns 731,612 shares of the company’s stock, valued at $116,172,669.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael S. Dell sold 2,837,829 shares of Dell Technologies stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $133.75, for a total transaction of $379,559,628.75. Following the completion of the transaction, the chief executive officer now owns 20,412,241 shares of the company’s stock, valued at approximately $2,730,137,233.75. The disclosure for this sale can be found here. Insiders sold 7,058,131 shares of company stock valued at $963,293,619 in the last three months. Company insiders own 46.70% of the company’s stock.

Institutional Investors Weigh In On Dell Technologies

Several institutional investors have recently made changes to their positions in DELL. EverSource Wealth Advisors LLC raised its stake in shares of Dell Technologies by 97.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 428 shares of the technology company’s stock valued at $59,000 after purchasing an additional 211 shares during the period. Fairscale Capital LLC bought a new stake in shares of Dell Technologies during the second quarter valued at about $39,000. First City Capital Management Inc. purchased a new stake in shares of Dell Technologies in the second quarter worth about $204,000. Frank Rimerman Advisors LLC bought a new position in shares of Dell Technologies in the second quarter valued at approximately $1,545,000. Finally, Holderness Investments Co. grew its stake in Dell Technologies by 44.8% during the second quarter. Holderness Investments Co. now owns 18,514 shares of the technology company’s stock valued at $2,553,000 after acquiring an additional 5,730 shares in the last quarter. Hedge funds and other institutional investors own 38.10% 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).