Citigroup Lowers Dell Technologies (NYSE:DELL) Price Target to $156.00

Dell Technologies (NYSE:DELL) had its price target dropped by equities research analysts at Citigroup from $160.00 to $156.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Citigroup’s target price would indicate a potential upside of 26.34% from the stock’s current price.

Several other research firms have also commented on DELL. UBS Group cut 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. Morgan Stanley boosted their price target on shares of Dell Technologies from $136.00 to $154.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Barclays upped their price objective on shares of Dell Technologies from $106.00 to $115.00 and gave the company an “equal weight” rating in a research note on Wednesday. Fox Advisors upgraded shares of Dell Technologies from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 30th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Dell Technologies in a research note on Friday, September 27th. They set a “buy” rating and a $144.00 price target on the stock. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Dell Technologies currently has an average rating of “Moderate Buy” and an average target price of $146.81.

Dell Technologies Stock Down 12.9 %

NYSE DELL traded down $18.26 on Wednesday, hitting $123.48. The stock had a trading volume of 19,014,439 shares, compared to its average volume of 10,038,517. The company’s 50-day moving average is $126.91 and its two-hundred day moving average is $126.97. The stock has a market cap of $86.73 billion, a price-to-earnings ratio of 23.30, a P/E/G ratio of 1.51 and a beta of 0.89. Dell Technologies has a one year low of $67.51 and a one year high of $179.70.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings results on Tuesday, November 26th. The technology company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.83 by $0.32. The company had revenue of $24.37 billion during the quarter, compared to analyst estimates of $24.67 billion. Dell Technologies had a net margin of 4.32% and a negative return on equity of 178.09%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.62 EPS. On average, sell-side analysts anticipate that Dell Technologies will post 6.93 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider William F. Scannell sold 42,595 shares of the company’s stock in a transaction on 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 sale, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Yvonne Mcgill sold 8,000 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $143.24, for a total transaction of $1,145,920.00. Following the completion of the sale, the chief financial officer now directly owns 236,419 shares in the company, valued at approximately $33,864,657.56. This represents a 3.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,962,112 shares of company stock valued at $2,114,595,059 in the last ninety days. 46.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Tidal Investments LLC lifted its position in shares of Dell Technologies by 49.0% during the 3rd quarter. Tidal Investments LLC now owns 147,383 shares of the technology company’s stock valued at $17,471,000 after acquiring an additional 48,436 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Dell Technologies during the 3rd quarter valued at $198,000. Morse Asset Management Inc raised its holdings in Dell Technologies by 180.1% during the third quarter. Morse Asset Management Inc now owns 21,223 shares of the technology company’s stock worth $2,516,000 after buying an additional 13,646 shares during the last quarter. Virtu Financial LLC acquired a new position in Dell Technologies during the third quarter worth $894,000. Finally, Citizens Business Bank raised its holdings in Dell Technologies by 326.7% during the third quarter. Citizens Business Bank now owns 31,644 shares of the technology company’s stock worth $3,751,000 after buying an additional 24,228 shares during the last quarter. Institutional investors and hedge funds own 38.10% of the company’s stock.

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).