Dell Technologies (NYSE:DELL) Trading 4.4% Higher on Analyst Upgrade

Dell Technologies Inc. (NYSE:DELL)’s share price shot up 4.4% during mid-day trading on Friday after Bank of America raised their price target on the stock from $155.00 to $165.00. Bank of America currently has a buy rating on the stock. Dell Technologies traded as high as $130.40 and last traded at $129.38. 3,259,489 shares traded hands during trading, a decline of 56% from the average session volume of 7,468,816 shares. The stock had previously closed at $123.88.

Other equities research analysts have also issued research reports about the stock. TD Cowen upped their target price on shares of Dell Technologies from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Friday, May 30th. Citigroup upped their target price on shares of Dell Technologies from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, May 30th. JPMorgan Chase & Co. upped their target price on shares of Dell Technologies from $125.00 to $145.00 and gave the stock an “overweight” rating in a report on Thursday. Barclays upped their target price on shares of Dell Technologies from $116.00 to $123.00 and gave the stock an “equal weight” rating in a report on Friday, May 30th. Finally, KeyCorp began coverage on shares of Dell Technologies in a report on Thursday, June 26th. They set a “sector weight” rating for the company. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $140.06.

Insider Buying and Selling

In other Dell Technologies news, Director V (Gp) L.L.C. Slta sold 527,187 shares of the company’s stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $112.83, for a total value of $59,482,509.21. Following the transaction, the director owned 938,741 shares of the company’s stock, valued at $105,918,147.03. This represents a 35.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider William F. Scannell sold 91,230 shares of the company’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $118.42, for a total transaction of $10,803,456.60. Following the completion of the transaction, the insider directly owned 56,429 shares in the company, valued at $6,682,322.18. The trade was a 61.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,897,063 shares of company stock valued at $1,570,909,812 over the last three months. Company insiders own 42.00% of the company’s stock.

Institutional Trading of Dell Technologies

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Dell Technologies by 4.1% during the first quarter. Vanguard Group Inc. now owns 29,106,218 shares of the technology company’s stock worth $2,653,032,000 after purchasing an additional 1,145,658 shares in the last quarter. Capital World Investors lifted its position in shares of Dell Technologies by 0.6% during the fourth quarter. Capital World Investors now owns 12,460,949 shares of the technology company’s stock worth $1,436,000,000 after purchasing an additional 72,271 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Dell Technologies by 8.7% during the fourth quarter. Geode Capital Management LLC now owns 6,870,042 shares of the technology company’s stock worth $789,680,000 after purchasing an additional 552,213 shares in the last quarter. Boston Partners lifted its position in shares of Dell Technologies by 34.4% during the first quarter. Boston Partners now owns 5,132,877 shares of the technology company’s stock worth $466,418,000 after purchasing an additional 1,312,600 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Dell Technologies by 38.1% during the first quarter. Deutsche Bank AG now owns 4,141,618 shares of the technology company’s stock worth $377,508,000 after purchasing an additional 1,142,012 shares in the last quarter. Institutional investors and hedge funds own 76.37% of the company’s stock.

Dell Technologies Stock Up 5.8%

The firm has a market cap of $88.98 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 1.14 and a beta of 1.02. The company’s 50-day moving average price is $117.32 and its 200-day moving average price is $105.99.

Dell Technologies (NYSE:DELL) last issued its earnings results on Thursday, May 29th. The technology company reported $1.55 earnings per share for the quarter, missing the consensus estimate of $1.68 by ($0.13). The firm had revenue of $23.38 billion during the quarter, compared to analyst estimates of $23.17 billion. Dell Technologies had a net margin of 4.63% and a negative return on equity of 226.48%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same period last year, the business earned $1.27 EPS. On average, sell-side analysts predict that Dell Technologies Inc. will post 6.93 earnings per share for the current fiscal year.

Dell Technologies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Tuesday, July 22nd will be issued a $0.525 dividend. The ex-dividend date of this dividend is Tuesday, July 22nd. This represents a $2.10 annualized dividend and a yield of 1.60%. Dell Technologies’s dividend payout ratio (DPR) is 33.49%.

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).