Wells Fargo & Company Issues Positive Forecast for Dell Technologies (NYSE:DELL) Stock Price

Dell Technologies (NYSE:DELL) had its price target increased by equities research analysts at Wells Fargo & Company from $140.00 to $160.00 in a report released on Monday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 17.78% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Sanford C. Bernstein lowered their target price on shares of Dell Technologies from $155.00 to $140.00 and set an “outperform” rating for the company in a research note on Friday, August 30th. JPMorgan Chase & Co. upped their target price on shares of Dell Technologies from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Evercore ISI reaffirmed an “outperform” rating and issued a $140.00 target price on shares of Dell Technologies in a research note on Wednesday, August 28th. Mizuho assumed coverage on shares of Dell Technologies in a research note on Tuesday, September 17th. They issued an “outperform” rating and a $135.00 target price for the company. Finally, Bank of America upped their target price on shares of Dell Technologies from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $145.88.

Dell Technologies Price Performance

DELL opened at $135.85 on Monday. The company has a market cap of $95.42 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 1.39 and a beta of 0.89. The firm has a 50 day simple moving average of $124.21 and a 200 day simple moving average of $126.62. Dell Technologies has a fifty-two week low of $67.51 and a fifty-two week high of $179.70.

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

Insider Buying and Selling

In other Dell Technologies news, CEO Michael S. Dell sold 221,460 shares of the stock in a transaction on Friday, September 6th. The shares were sold at an average price of $102.07, for a total value of $22,604,422.20. Following the completion of the sale, the chief executive officer now owns 20,190,781 shares in the company, valued at $2,060,873,016.67. This trade represents a 1.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider William F. Scannell sold 42,595 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $117.29, for a total transaction of $4,995,967.55. Following the completion of the sale, the insider now owns 73,263 shares of the company’s stock, valued at approximately $8,593,017.27. This represents a 36.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,954,112 shares of company stock worth $2,113,449,139. 46.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Dell Technologies

Several large investors have recently modified their holdings of the stock. Citizens Business Bank raised its position in shares of Dell Technologies by 326.7% in the third quarter. Citizens Business Bank now owns 31,644 shares of the technology company’s stock valued at $3,751,000 after purchasing an additional 24,228 shares during the period. TD Private Client Wealth LLC raised its position in shares of Dell Technologies by 9.9% in the third quarter. TD Private Client Wealth LLC now owns 7,458 shares of the technology company’s stock valued at $884,000 after purchasing an additional 671 shares during the period. Fortem Financial Group LLC raised its position in shares of Dell Technologies by 3.4% in the third quarter. Fortem Financial Group LLC now owns 34,811 shares of the technology company’s stock valued at $4,126,000 after purchasing an additional 1,158 shares during the period. Teachers Retirement System of The State of Kentucky raised its position in shares of Dell Technologies by 14.3% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 264,100 shares of the technology company’s stock valued at $31,306,000 after purchasing an additional 33,000 shares during the period. Finally, Sunbelt Securities Inc. raised its position in shares of Dell Technologies by 16,925.2% in the third quarter. Sunbelt Securities Inc. now owns 21,622 shares of the technology company’s stock valued at $2,563,000 after purchasing an additional 21,495 shares during the period. 38.10% of the stock is owned by institutional investors.

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).