Dell Technologies (NYSE:DELL) Trading Up 6.2% After Analyst Upgrade

Dell Technologies Inc. (NYSE:DELL)’s share price shot up 6.2% on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $155.00 to $160.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Dell Technologies traded as high as $109.80 and last traded at $109.35. 5,991,263 shares were traded during mid-day trading, a decline of 41% from the average session volume of 10,219,899 shares. The stock had previously closed at $102.95.

DELL has been the subject of several other reports. Barclays upgraded shares of Dell Technologies from an “underweight” rating to an “equal weight” rating and set a $97.00 target price for the company in a report on Tuesday. Morgan Stanley reissued an “overweight” rating and set a $155.00 price objective on shares of Dell Technologies in a research note on Monday, June 17th. Citigroup reduced their target price on Dell Technologies from $170.00 to $155.00 and set a “buy” rating on the stock in a research note on Thursday. Wells Fargo & Company reduced their price objective on Dell Technologies from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Evercore ISI dropped their target price on Dell Technologies from $165.00 to $140.00 and set an “outperform” rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.06.

Insider Transactions at Dell Technologies

In other Dell Technologies news, Director Iv (Gp) L.L.C. Slta sold 16,434 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $135.16, for a total value of $2,221,219.44. Following the sale, the director now directly owns 806,352 shares in the company, valued at $108,986,536.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director David W. Dorman sold 75,000 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $135.26, for a total transaction of $10,144,500.00. Following the completion of the sale, the director now directly owns 114,317 shares of the company’s stock, valued at $15,462,517.42. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Iv (Gp) L.L.C. Slta sold 16,434 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $135.16, for a total value of $2,221,219.44. Following the completion of the transaction, the director now owns 806,352 shares in the company, valued at $108,986,536.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,058,131 shares of company stock worth $963,293,619. 46.70% of the stock is currently owned by company insiders.

Institutional Trading of Dell Technologies

Hedge funds have recently added to or reduced their stakes in the business. Capital World Investors bought a new stake in shares of Dell Technologies during the first quarter worth $835,946,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Dell Technologies by 449.8% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,714,573 shares of the technology company’s stock worth $284,165,000 after purchasing an additional 3,038,891 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Dell Technologies by 83.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 2,224,975 shares of the technology company’s stock valued at $250,676,000 after purchasing an additional 1,011,512 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Dell Technologies by 311.5% in the first quarter. Assenagon Asset Management S.A. now owns 1,195,871 shares of the technology company’s stock valued at $136,461,000 after purchasing an additional 905,279 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Dell Technologies by 2,466.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 886,409 shares of the technology company’s stock worth $67,810,000 after buying an additional 851,867 shares in the last quarter. Institutional investors and hedge funds own 38.10% of the company’s stock.

Dell Technologies Stock Performance

The firm has a market cap of $78.12 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92. The stock has a 50-day moving average of $126.73 and a 200-day moving average of $120.24.

Dell Technologies (NYSE:DELL) last announced its quarterly earnings data on Thursday, May 30th. The technology company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.04. Dell Technologies had a net margin of 4.00% and a negative return on equity of 173.72%. The business had revenue of $22.24 billion for the quarter, compared to analyst estimates of $21.70 billion. Sell-side analysts predict that Dell Technologies Inc. will post 6.85 EPS for the current fiscal year.

Dell Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Tuesday, July 23rd were paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date was Tuesday, July 23rd. Dell Technologies’s dividend payout ratio is currently 36.33%.

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).