Citigroup Cuts Dell Technologies (NYSE:DELL) Price Target to $145.00

Dell Technologies (NYSE:DELL) had its price target cut by Citigroup from $156.00 to $145.00 in a research note released on Friday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other brokerages have also commented on DELL. Barclays boosted their price target on Dell Technologies from $106.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, November 27th. Bank of America lowered their target price on Dell Technologies from $155.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday. OTR Global raised Dell Technologies from a “negative” rating to a “positive” rating in a research report on Wednesday, February 12th. Evercore ISI reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Dell Technologies in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. lowered their target price on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Dell Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $145.00.

Dell Technologies Price Performance

Shares of Dell Technologies stock opened at $117.66 on Friday. The firm has a market cap of $82.41 billion, a price-to-earnings ratio of 20.79, a price-to-earnings-growth ratio of 1.11 and a beta of 0.90. The stock’s 50-day moving average is $113.12 and its 200-day moving average is $117.42. Dell Technologies has a one year low of $85.40 and a one year high of $179.70.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings results on Tuesday, November 26th. The technology company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.83 by $0.32. The company had revenue of $24.37 billion for the quarter, compared to analyst estimates of $24.67 billion. Dell Technologies had a negative return on equity of 191.91% and a net margin of 4.36%. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.62 earnings per share. On average, equities analysts expect that Dell Technologies will post 6.93 EPS for the current year.

Dell Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 22nd were issued a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Wednesday, January 22nd. Dell Technologies’s dividend payout ratio is presently 31.45%.

Insider Transactions at Dell Technologies

In other news, Director Radakovich Lynn Vojvodich sold 725 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $120.00, for a total transaction of $87,000.00. Following the completion of the sale, the director now owns 23,680 shares in the company, valued at $2,841,600. The trade was a 2.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Yvonne Mcgill sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $125.82, for a total value of $1,006,560.00. Following the completion of the sale, the chief financial officer now owns 228,419 shares of the company’s stock, valued at approximately $28,739,678.58. This trade represents a 3.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 937,407 shares of company stock worth $114,418,186 over the last quarter. Company insiders own 46.70% of the company’s stock.

Institutional Investors Weigh In On Dell Technologies

Institutional investors have recently made changes to their positions in the stock. Burns J W & Co. Inc. NY bought a new stake in shares of Dell Technologies in the fourth quarter valued at approximately $1,272,000. iA Global Asset Management Inc. boosted its stake in shares of Dell Technologies by 84.7% in the third quarter. iA Global Asset Management Inc. now owns 11,345 shares of the technology company’s stock valued at $1,345,000 after buying an additional 5,203 shares during the period. National Pension Service lifted its stake in Dell Technologies by 8.8% during the third quarter. National Pension Service now owns 620,406 shares of the technology company’s stock worth $73,543,000 after purchasing an additional 50,304 shares during the last quarter. Sky Investment Group LLC bought a new stake in Dell Technologies during the fourth quarter worth $1,687,000. Finally, Enclave Advisors LLC bought a new stake in Dell Technologies during the fourth quarter worth $848,000. 76.37% of the stock is currently owned by institutional investors.

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).