Dell Technologies (NYSE:DELL) Reaches New 12-Month High on Analyst Upgrade

Dell Technologies Inc. (NYSE:DELLGet Free Report)’s stock price reached a new 52-week high on Wednesday after Bank of America raised their price target on the stock from $130.00 to $180.00. Bank of America currently has a buy rating on the stock. Dell Technologies traded as high as $170.73 and last traded at $169.84, with a volume of 3556429 shares trading hands. The stock had previously closed at $166.08.

A number of other research firms also recently issued reports on DELL. Sanford C. Bernstein boosted their price target on shares of Dell Technologies from $120.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, May 20th. Morgan Stanley upped their target price on shares of Dell Technologies from $128.00 to $152.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Wells Fargo & Company upped their target price on shares of Dell Technologies from $140.00 to $170.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 21st. UBS Group upped their target price on shares of Dell Technologies from $113.00 to $141.00 and gave the company a “buy” rating in a report on Friday, April 19th. Finally, Citigroup upped their target price on shares of Dell Technologies from $125.00 to $170.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $132.25.

Check Out Our Latest Stock Analysis on Dell Technologies

Insider Buying and Selling at Dell Technologies

In other Dell Technologies news, Director Iv (Gp) L.L.C. Slta sold 42,545 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $134.37, for a total transaction of $5,716,771.65. Following the sale, the director now directly owns 535,816 shares of the company’s stock, valued at approximately $71,997,595.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Iv (Gp) L.L.C. Slta sold 42,545 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $134.37, for a total value of $5,716,771.65. Following the sale, the director now directly owns 535,816 shares of the company’s stock, valued at $71,997,595.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael S. Dell sold 624,450 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $119.80, for a total transaction of $74,809,110.00. Following the completion of the sale, the chief executive officer now directly owns 39,787,791 shares in the company, valued at $4,766,577,361.80. The disclosure for this sale can be found here. In the last three months, insiders sold 6,382,204 shares of company stock worth $718,452,037. 46.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Dell Technologies by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 17,595,478 shares of the technology company’s stock worth $1,346,054,000 after buying an additional 647,192 shares during the last quarter. Boston Partners boosted its holdings in Dell Technologies by 2.1% in the fourth quarter. Boston Partners now owns 9,575,882 shares of the technology company’s stock worth $733,564,000 after purchasing an additional 197,435 shares during the period. FMR LLC boosted its holdings in Dell Technologies by 59.6% in the third quarter. FMR LLC now owns 9,376,674 shares of the technology company’s stock worth $646,053,000 after purchasing an additional 3,499,760 shares during the period. Capital World Investors acquired a new position in Dell Technologies in the first quarter worth $835,946,000. Finally, Morgan Stanley boosted its holdings in Dell Technologies by 96.9% in the third quarter. Morgan Stanley now owns 5,023,755 shares of the technology company’s stock worth $346,137,000 after purchasing an additional 2,472,866 shares during the period. 38.10% of the stock is owned by institutional investors and hedge funds.

Dell Technologies Price Performance

The stock has a market cap of $120.84 billion, a price-to-earnings ratio of 38.01, a P/E/G ratio of 2.50 and a beta of 0.87. The business’s fifty day simple moving average is $128.18 and its 200 day simple moving average is $99.36.

Dell Technologies (NYSE:DELLGet Free Report) last released its quarterly earnings data on Thursday, February 29th. The technology company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.47. Dell Technologies had a net margin of 3.63% and a negative return on equity of 172.07%. The firm had revenue of $22.32 billion during the quarter, compared to the consensus estimate of $22.17 billion. During the same quarter in the previous year, the company posted $1.55 earnings per share. The firm’s revenue was down 10.9% on a year-over-year basis. As a group, equities analysts forecast that Dell Technologies Inc. will post 6.74 EPS for the current fiscal year.

Dell Technologies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 3rd. Stockholders of record on Tuesday, April 23rd were issued a dividend of $0.445 per share. This is an increase from Dell Technologies’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Monday, April 22nd. This represents a $1.78 annualized dividend and a dividend yield of 1.05%. Dell Technologies’s payout ratio is 40.73%.

Dell Technologies Company Profile

(Get Free Report)

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).

Further Reading

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