Dell Technologies (NYSE:DELL) Trading Down 12.2% on Analyst Downgrade

Dell Technologies Inc. (NYSE:DELL) shares fell 12.2% during trading on Thursday after Mizuho lowered their price target on the stock from $155.00 to $150.00. Mizuho currently has an outperform rating on the stock. Dell Technologies traded as low as $121.30 and last traded at $124.38. 38,035,422 shares changed hands during trading, an increase of 275% from the average session volume of 10,142,419 shares. The stock had previously closed at $141.74.

DELL has been the topic of a number of other reports. Wells Fargo & Company raised their price objective on shares of Dell Technologies from $140.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. JPMorgan Chase & Co. lifted their price target on Dell Technologies from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Raymond James lowered their price objective on Dell Technologies from $166.00 to $160.00 and set an “outperform” rating for the company in a research note on Friday, August 30th. Melius Research lifted their target price on Dell Technologies from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Sanford C. Bernstein lowered their price target on Dell Technologies from $155.00 to $140.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.18.

Insiders Place Their Bets

In other news, CEO Michael S. Dell sold 221,460 shares of Dell Technologies stock in a transaction on Friday, September 6th. The stock was sold at an average price of $102.07, for a total value of $22,604,422.20. Following the completion of the transaction, the chief executive officer now directly owns 20,190,781 shares in the company, valued at approximately $2,060,873,016.67. The trade was a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William F. Scannell sold 42,595 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $117.29, for a total value of $4,995,967.55. Following the sale, the insider now directly owns 73,263 shares in the company, valued at $8,593,017.27. This trade represents a 36.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,962,112 shares of company stock worth $2,114,595,059 over the last quarter. 46.70% of the stock is currently owned by company insiders.

Institutional Trading of Dell Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Dell Technologies by 92.4% in the 3rd quarter. State Street Corp now owns 12,767,011 shares of the technology company’s stock valued at $1,513,401,000 after acquiring an additional 6,131,507 shares in the last quarter. Geode Capital Management LLC raised its stake in Dell Technologies by 71.8% in the third quarter. Geode Capital Management LLC now owns 6,317,829 shares of the technology company’s stock valued at $746,596,000 after purchasing an additional 2,641,456 shares in the last quarter. International Assets Investment Management LLC lifted its position in Dell Technologies by 19,376.1% during the third quarter. International Assets Investment Management LLC now owns 2,427,699 shares of the technology company’s stock valued at $287,779,000 after purchasing an additional 2,415,234 shares during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Dell Technologies by 2.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 2,276,779 shares of the technology company’s stock worth $319,771,000 after buying an additional 51,804 shares during the last quarter. Finally, Alkeon Capital Management LLC raised its position in shares of Dell Technologies by 48.3% during the 3rd quarter. Alkeon Capital Management LLC now owns 2,146,777 shares of the technology company’s stock valued at $254,479,000 after buying an additional 699,204 shares in the last quarter. Institutional investors own 38.10% of the company’s stock.

Dell Technologies Trading Up 2.6 %

The company has a market capitalization of $89.62 billion, a P/E ratio of 22.54, a P/E/G ratio of 1.31 and a beta of 0.89. The business’s fifty day moving average price is $127.41 and its 200-day moving average price is $126.91.

Dell Technologies (NYSE:DELL) last posted its quarterly earnings data on Tuesday, November 26th. The technology company reported $2.15 earnings per share (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 analysts’ expectations of $24.67 billion. Dell Technologies had a negative return on equity of 184.20% and a net margin of 4.36%. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.62 EPS. As a group, equities research analysts forecast that Dell Technologies Inc. will post 6.93 EPS for the current year.

Dell Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 22nd were issued a $0.445 dividend. The ex-dividend date of this dividend was Tuesday, October 22nd. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.40%. Dell Technologies’s payout ratio is 31.45%.

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).