Bank of America Issues Pessimistic Forecast for Dell Technologies (NYSE:DELL) Stock Price

Dell Technologies (NYSE:DELL) had its price objective cut by equities researchers at Bank of America from $155.00 to $150.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Bank of America‘s price objective suggests a potential upside of 31.26% from the company’s current price.

Several other analysts also recently weighed in on DELL. Wells Fargo & Company lifted their price objective on shares of Dell Technologies from $140.00 to $160.00 and gave the company an “overweight” rating in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on Dell Technologies from $144.00 to $142.00 and set a “buy” rating for the company in a research report on Monday, December 2nd. Citigroup lowered their target price on Dell Technologies from $160.00 to $156.00 and set a “buy” rating on the stock 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 note on Wednesday, November 20th. Finally, Melius Research lifted their price objective on shares of Dell Technologies from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Dell Technologies currently has an average rating of “Moderate Buy” and an average target price of $145.65.

Dell Technologies Price Performance

Dell Technologies stock opened at $114.28 on Tuesday. Dell Technologies has a 12 month low of $80.49 and a 12 month high of $179.70. The company has a fifty day moving average price of $112.99 and a two-hundred day moving average price of $117.25. The company has a market cap of $80.05 billion, a PE ratio of 20.19, a P/E/G ratio of 0.91 and a beta of 0.90.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings data on Tuesday, November 26th. The technology company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.83 by $0.32. The firm had revenue of $24.37 billion during the quarter, compared to the consensus estimate of $24.67 billion. Dell Technologies had a negative return on equity of 191.91% and a net margin of 4.36%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.62 EPS. Equities research analysts anticipate that Dell Technologies will post 6.92 earnings per share for the current year.

Insider Transactions at Dell Technologies

In other Dell Technologies news, CFO Yvonne Mcgill sold 8,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 236,419 shares in the company, valued at approximately $33,864,657.56. The trade was a 3.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director V (Gp) L.L.C. Slta sold 103,745 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $125.28, for a total transaction of $12,997,173.60. Following the sale, the director now directly owns 777,347 shares of the company’s stock, valued at $97,386,032.16. This represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 945,407 shares of company stock valued at $115,564,106 over the last three months. Company insiders own 46.70% of the company’s stock.

Institutional Trading of Dell Technologies

A number of hedge funds have recently modified their holdings of DELL. Bellwether Advisors LLC acquired a new position in Dell Technologies during the fourth quarter valued at $25,000. Vision Financial Markets LLC purchased a new position in Dell Technologies during the 4th quarter valued at about $26,000. Lee Danner & Bass Inc. acquired a new position in shares of Dell Technologies in the 4th quarter valued at about $26,000. Byrne Asset Management LLC purchased a new stake in shares of Dell Technologies in the fourth quarter worth approximately $28,000. Finally, True Wealth Design LLC boosted its holdings in shares of Dell Technologies by 2,530.0% during the third quarter. True Wealth Design LLC now owns 263 shares of the technology company’s stock worth $31,000 after purchasing an additional 253 shares during the period. Hedge funds and other 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).