Dell Technologies (NYSE:DELL) Price Target Lowered to $55.00 at Bank of America

Dell Technologies (NYSE:DELLGet Rating) had its price objective trimmed by Bank of America from $60.00 to $55.00 in a research note published on Tuesday morning, The Fly reports.

A number of other analysts also recently issued reports on the stock. Credit Suisse Group reissued a buy rating and set a $60.00 price target on shares of Dell Technologies in a report on Friday, August 26th. The Goldman Sachs Group lowered their price target on shares of Dell Technologies from $52.00 to $43.00 and set a neutral rating on the stock in a report on Friday, August 26th. Citigroup lowered their price target on shares of Dell Technologies from $60.00 to $55.00 and set a buy rating on the stock in a report on Friday, November 18th. Jefferies Financial Group began coverage on shares of Dell Technologies in a report on Monday, October 31st. They set a hold rating and a $39.00 price target on the stock. Finally, Morgan Stanley reduced their price objective on shares of Dell Technologies from $54.00 to $45.00 and set an equal weight rating for the company in a research report on Monday, October 17th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Dell Technologies currently has an average rating of Moderate Buy and a consensus target price of $50.38.

Dell Technologies Price Performance

DELL stock opened at $43.85 on Tuesday. The firm’s fifty day simple moving average is $37.60 and its 200-day simple moving average is $42.39. The company has a market capitalization of $32.14 billion, a P/E ratio of 6.34, a price-to-earnings-growth ratio of 0.62 and a beta of 0.92. Dell Technologies has a 12 month low of $32.90 and a 12 month high of $61.54.

Dell Technologies (NYSE:DELLGet Rating) last released its quarterly earnings data on Monday, November 21st. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $1.59 by $0.71. Dell Technologies had a net margin of 4.98% and a return on equity of 305.10%. The business had revenue of $24.72 million for the quarter, compared to the consensus estimate of $24.61 billion. During the same period in the prior year, the firm earned $2.37 EPS. The business’s revenue for the quarter was down 6.4% on a year-over-year basis. As a group, sell-side analysts forecast that Dell Technologies will post 5.69 earnings per share for the current year.

Dell Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Wednesday, October 19th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Tuesday, October 18th. Dell Technologies’s dividend payout ratio (DPR) is 19.08%.

Insider Activity

In other news, insider William F. Scannell sold 27,536 shares of the stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $40.20, for a total value of $1,106,947.20. Following the completion of the sale, the insider now directly owns 343,835 shares in the company, valued at $13,822,167. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 47.30% of the company’s stock.

Institutional Investors Weigh In On Dell Technologies

A number of hedge funds have recently modified their holdings of DELL. Nisa Investment Advisors LLC grew its holdings in shares of Dell Technologies by 74.1% in the first quarter. Nisa Investment Advisors LLC now owns 3,523 shares of the technology company’s stock valued at $177,000 after purchasing an additional 1,500 shares during the period. Park Avenue Securities LLC purchased a new stake in shares of Dell Technologies in the first quarter valued at about $245,000. SG Americas Securities LLC purchased a new stake in shares of Dell Technologies in the first quarter valued at about $343,000. Signaturefd LLC grew its holdings in shares of Dell Technologies by 9.1% in the first quarter. Signaturefd LLC now owns 3,268 shares of the technology company’s stock valued at $164,000 after purchasing an additional 273 shares during the period. Finally, Atria Investments LLC grew its holdings in shares of Dell Technologies by 4.0% in the first quarter. Atria Investments LLC now owns 21,499 shares of the technology company’s stock valued at $1,079,000 after purchasing an additional 818 shares during the period. Hedge funds and other institutional investors own 26.53% of the company’s stock.

About Dell Technologies

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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).

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