Dell Technologies (NYSE:DELL) Shares Down 0.7% After Analyst Downgrade

Dell Technologies Inc. (NYSE:DELL)’s stock price dropped 0.7% during mid-day trading on Tuesday after JPMorgan Chase & Co. lowered their price target on the stock from $160.00 to $150.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Dell Technologies traded as low as $110.11 and last traded at $111.47. Approximately 1,284,038 shares changed hands during trading, a decline of 84% from the average daily volume of 8,075,733 shares. The stock had previously closed at $112.31.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley upped their target price on Dell Technologies from $136.00 to $154.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Citigroup dropped their price objective on shares of Dell Technologies from $160.00 to $156.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Barclays upped their price target on shares of Dell Technologies from $106.00 to $115.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 27th. Mizuho cut their price target on shares of Dell Technologies from $155.00 to $150.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Finally, Evercore ISI restated an “outperform” rating and issued a $150.00 price objective on shares of Dell Technologies in a report on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $147.47.

Insider Activity

In other Dell Technologies news, Director Radakovich Lynn Vojvodich sold 725 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $132.28, for a total value of $95,903.00. Following the transaction, the director now directly owns 23,680 shares of the company’s stock, valued at approximately $3,132,390.40. This trade represents a 2.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $119.73, for a total transaction of $59,750,657.85. Following the completion of the sale, the director now owns 810,657 shares in the company, valued at $97,059,962.61. This represents a 38.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 946,132 shares of company stock worth $115,660,009 in the last quarter. 46.70% of the stock is owned by corporate insiders.

Institutional Trading of Dell Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. Burns J W & Co. Inc. NY bought a new position in Dell Technologies in the 4th quarter valued at $1,272,000. iA Global Asset Management Inc. raised its stake in Dell Technologies by 84.7% in the 3rd quarter. iA Global Asset Management Inc. now owns 11,345 shares of the technology company’s stock valued at $1,345,000 after acquiring an additional 5,203 shares during the period. National Pension Service lifted its holdings in Dell Technologies by 8.8% during the third quarter. National Pension Service now owns 620,406 shares of the technology company’s stock valued at $73,543,000 after purchasing an additional 50,304 shares during the last quarter. Sky Investment Group LLC purchased a new position in shares of Dell Technologies in the fourth quarter worth about $1,687,000. Finally, Enclave Advisors LLC bought a new stake in shares of Dell Technologies in the fourth quarter valued at approximately $848,000. 76.37% of the stock is owned by hedge funds and other institutional investors.

Dell Technologies Stock Performance

The company has a market capitalization of $78.07 billion, a PE ratio of 19.69, a PEG ratio of 0.91 and a beta of 0.90. The stock’s 50 day moving average is $114.20 and its 200 day moving average is $117.19.

Dell Technologies (NYSE:DELL) last announced its quarterly earnings results on Tuesday, November 26th. The technology company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.32. The company 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 191.91% and a net margin of 4.36%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.62 earnings per share. On average, equities research analysts forecast that Dell Technologies Inc. will post 6.92 EPS for the current fiscal year.

Dell Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Wednesday, January 22nd were issued a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Wednesday, January 22nd. Dell Technologies’s payout ratio is 31.45%.

About Dell Technologies

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).