Wells Fargo & Company Boosts Dell Technologies (NYSE:DELL) Price Target to $160.00

Dell Technologies (NYSE:DELL) had its price target increased by Wells Fargo & Company from $140.00 to $160.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other equities research analysts also recently issued reports on DELL. Mizuho assumed coverage on shares of Dell Technologies in a research report on Tuesday, September 17th. They issued an “outperform” rating and a $135.00 target price for the company. Bank of America increased their price objective on Dell Technologies from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Barclays boosted their target price on Dell Technologies from $97.00 to $106.00 and gave the company an “equal weight” rating in a research note on Friday, August 30th. Evercore ISI reaffirmed an “outperform” rating and set a $140.00 price target on shares of Dell Technologies in a research note on Wednesday, August 28th. Finally, TD Cowen reduced their price target on Dell Technologies from $155.00 to $128.00 and set a “hold” rating for the company in a report on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Dell Technologies has an average rating of “Moderate Buy” and an average price target of $146.50.

Dell Technologies Trading Up 3.5 %

Shares of DELL stock opened at $138.69 on Monday. The company has a market capitalization of $97.41 billion, a price-to-earnings ratio of 25.49, a P/E/G ratio of 1.43 and a beta of 0.89. Dell Technologies has a 1-year low of $67.51 and a 1-year high of $179.70. The stock’s fifty day simple moving average is $125.25 and its 200-day simple moving average is $126.76.

Dell Technologies (NYSE:DELL) last released its earnings results on Thursday, August 29th. The technology company reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.40. The company had revenue of $25.03 billion for the quarter, compared to analysts’ expectations of $24.14 billion. Dell Technologies had a negative return on equity of 178.09% and a net margin of 4.32%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.44 EPS. On average, sell-side analysts predict that Dell Technologies will post 6.91 EPS for the current year.

Dell Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 22nd were given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Tuesday, October 22nd. Dell Technologies’s dividend payout ratio is 32.72%.

Insider Activity

In other Dell Technologies news, Director Radakovich Lynn Vojvodich sold 725 shares of the firm’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $129.50, for a total value of $93,887.50. Following the sale, the director now directly owns 23,680 shares in the company, valued at $3,066,560. This trade represents a 2.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael S. Dell sold 1,839,959 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $106.68, for a total transaction of $196,286,826.12. Following the transaction, the chief executive officer now directly owns 18,350,822 shares of the company’s stock, valued at $1,957,665,690.96. This represents a 9.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,954,112 shares of company stock valued at $2,113,449,139. 46.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Dell Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in DELL. Morse Asset Management Inc grew its holdings in shares of Dell Technologies by 180.1% during the 3rd quarter. Morse Asset Management Inc now owns 21,223 shares of the technology company’s stock worth $2,516,000 after purchasing an additional 13,646 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Dell Technologies during the 3rd quarter worth about $894,000. Citizens Business Bank boosted its stake in Dell Technologies by 326.7% in the 3rd quarter. Citizens Business Bank now owns 31,644 shares of the technology company’s stock valued at $3,751,000 after buying an additional 24,228 shares in the last quarter. TD Private Client Wealth LLC grew its position in Dell Technologies by 9.9% in the third quarter. TD Private Client Wealth LLC now owns 7,458 shares of the technology company’s stock valued at $884,000 after acquiring an additional 671 shares during the period. Finally, Fortem Financial Group LLC lifted its holdings in shares of Dell Technologies by 3.4% during the third quarter. Fortem Financial Group LLC now owns 34,811 shares of the technology company’s stock valued at $4,126,000 after acquiring an additional 1,158 shares during the period. 38.10% of the stock is currently owned by institutional investors.

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).