Mizuho Cuts Dell Technologies (NYSE:DELL) Price Target to $150.00

Dell Technologies (NYSE:DELL) had its price objective reduced by Mizuho from $155.00 to $150.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Mizuho currently has an outperform rating on the technology company’s stock.

A number of other brokerages have also weighed in on DELL. UBS Group decreased their target price on shares of Dell Technologies from $164.00 to $158.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Barclays increased their target price on Dell Technologies from $106.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday. Fox Advisors upgraded Dell Technologies from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 30th. Raymond James lowered their price objective on shares of Dell Technologies from $166.00 to $160.00 and set an “outperform” rating on the stock in a research note on Friday, August 30th. Finally, TD Cowen reduced their target price on shares of Dell Technologies from $155.00 to $128.00 and set a “hold” rating for the company in a report on Friday, August 30th. Three analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $148.18.

Dell Technologies Price Performance

Shares of NYSE:DELL opened at $127.59 on Wednesday. Dell Technologies has a 1 year low of $67.51 and a 1 year high of $179.70. The stock’s fifty day moving average price is $127.41 and its 200-day moving average price is $126.91. The company has a market cap of $89.62 billion, a P/E ratio of 22.54, a PEG ratio of 1.31 and a beta of 0.89.

Dell Technologies (NYSE:DELL) last announced its quarterly earnings results on Tuesday, November 26th. The technology company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.32. Dell Technologies had a net margin of 4.36% and a negative return on equity of 184.20%. The firm had revenue of $24.37 billion for the quarter, compared to the consensus estimate of $24.67 billion. During the same quarter last year, the firm posted $1.62 EPS. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Dell Technologies will post 6.93 earnings per share for the current year.

Dell Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 22nd were issued a dividend of $0.445 per share. 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 1.40%. Dell Technologies’s dividend payout ratio is presently 31.45%.

Insider Transactions at Dell Technologies

In other Dell Technologies news, CEO Michael S. Dell sold 10,000,000 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $122.40, for a total value of $1,224,000,000.00. Following the sale, the chief executive officer now owns 16,912,241 shares in the company, valued at $2,070,058,298.40. The trade was a 37.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William F. Scannell sold 42,595 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $117.29, for a total value of $4,995,967.55. Following the transaction, the insider now owns 73,263 shares of the company’s stock, valued at approximately $8,593,017.27. The trade was a 36.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,962,112 shares of company stock valued at $2,114,595,059 over the last 90 days. Company insiders own 46.70% of the company’s stock.

Institutional Investors Weigh In On Dell Technologies

A number of hedge funds have recently made changes to their positions in the company. Clean Yield Group purchased a new stake in Dell Technologies during the third quarter valued at $25,000. Accordant Advisory Group Inc purchased a new stake in shares of Dell Technologies during the 2nd quarter valued at about $28,000. New Covenant Trust Company N.A. bought a new position in shares of Dell Technologies in the 1st quarter valued at about $30,000. True Wealth Design LLC grew its position in Dell Technologies by 2,530.0% in the third quarter. True Wealth Design LLC now owns 263 shares of the technology company’s stock worth $31,000 after acquiring an additional 253 shares in the last quarter. Finally, Nemes Rush Group LLC bought a new stake in Dell Technologies during the second quarter worth approximately $33,000. 38.10% of the stock is currently owned by hedge funds and other 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).