Dell Technologies (NYSE:DELL) Shares Up 3.3% Following Analyst Upgrade

Shares of Dell Technologies Inc. (NYSE:DELL) were up 3.3% on Monday after Wells Fargo & Company raised their price target on the stock from $140.00 to $160.00. Wells Fargo & Company currently has an overweight rating on the stock. Dell Technologies traded as high as $136.47 and last traded at $136.04. Approximately 1,932,444 shares were traded during trading, a decline of 81% from the average daily volume of 10,045,463 shares. The stock had previously closed at $131.64.

DELL has been the topic of a number of other reports. Fox Advisors raised Dell Technologies from an “equal weight” rating to an “overweight” rating in a report on Friday, August 30th. Sanford C. Bernstein decreased their price objective on Dell Technologies from $155.00 to $140.00 and set an “outperform” rating on the stock in a report on Friday, August 30th. Citigroup upped their price objective on Dell Technologies from $155.00 to $160.00 and gave the company a “buy” rating in a report on Friday, August 30th. Evercore ISI reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of Dell Technologies in a report on Wednesday, August 28th. Finally, Mizuho initiated coverage on Dell Technologies in a report on Tuesday, September 17th. They issued an “outperform” rating and a $135.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, Dell Technologies has an average rating of “Moderate Buy” and an average price target of $145.88.

Insider Buying and Selling

In other Dell Technologies news, 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 completion of the transaction, the insider now directly owns 73,263 shares in the company, valued at approximately $8,593,017.27. This trade represents a 36.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Radakovich Lynn Vojvodich sold 725 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $129.50, for a total value of $93,887.50. Following the completion of the transaction, the director now owns 23,680 shares of the company’s stock, valued at $3,066,560. This represents a 2.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,953,387 shares of company stock worth $2,113,353,236 in the last ninety days. 46.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Dell Technologies

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp raised its position in shares of Dell Technologies by 92.4% during the third quarter. State Street Corp now owns 12,767,011 shares of the technology company’s stock worth $1,513,401,000 after acquiring an additional 6,131,507 shares during the last quarter. Capital World Investors acquired a new stake in Dell Technologies during the first quarter worth approximately $835,946,000. Geode Capital Management LLC grew its stake in Dell Technologies by 71.8% during the third quarter. Geode Capital Management LLC now owns 6,317,829 shares of the technology company’s stock worth $746,596,000 after purchasing an additional 2,641,456 shares during the period. International Assets Investment Management LLC grew its stake 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 worth $287,779,000 after purchasing an additional 2,415,234 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its stake in Dell Technologies by 2.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 2,276,779 shares of the technology company’s stock worth $319,771,000 after purchasing an additional 51,804 shares during the period. 38.10% of the stock is currently owned by institutional investors.

Dell Technologies Stock Up 3.4 %

The firm has a 50 day moving average of $123.63 and a 200 day moving average of $126.55. The firm has a market cap of $95.56 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 1.39 and a beta of 0.89.

Dell Technologies (NYSE:DELL) last released its earnings results on Thursday, August 29th. The technology company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.49 by $0.40. Dell Technologies had a negative return on equity of 178.09% and a net margin of 4.32%. The business had revenue of $25.03 billion during the quarter, compared to analysts’ expectations of $24.14 billion. During the same quarter last year, the firm posted $1.44 earnings per share. The firm’s revenue was up 9.1% on a year-over-year basis. Equities analysts expect that Dell Technologies Inc. will post 6.92 EPS for the current year.

Dell Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 22nd were paid 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 yield of 1.31%. Dell Technologies’s dividend payout ratio (DPR) is presently 32.72%.

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).