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

Dell Technologies (NYSE:DELL) had its price objective upped by TD Cowen from $130.00 to $150.00 in a research note released on Wednesday,MarketScreener reports. The firm currently has a hold rating on the technology company’s stock.

A number of other research analysts have also commented on the company. Morgan Stanley upped their price objective on Dell Technologies from $135.00 to $144.00 and gave the company an “overweight” rating in a report on Thursday, August 21st. UBS Group upped their price objective on Dell Technologies from $155.00 to $186.00 and gave the company a “buy” rating in a report on Wednesday. Daiwa Capital Markets increased their target price on Dell Technologies from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 11th. Wall Street Zen raised Dell Technologies from a “hold” rating to a “buy” rating in a report on Saturday, September 13th. Finally, Evercore ISI increased their target price on Dell Technologies from $150.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, August 15th. Seventeen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $160.53.

Dell Technologies Price Performance

Shares of NYSE DELL opened at $150.67 on Wednesday. The stock’s fifty day moving average price is $133.98 and its two-hundred day moving average price is $116.82. Dell Technologies has a one year low of $66.25 and a one year high of $166.10. The firm has a market cap of $101.31 billion, a price-to-earnings ratio of 22.16, a P/E/G ratio of 1.06 and a beta of 1.05.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings data on Thursday, October 5th. The technology company reported $1.68 EPS for the quarter. Dell Technologies had a negative return on equity of 236.21% and a net margin of 4.73%.The firm had revenue of $26.43 billion for the quarter. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. On average, equities analysts anticipate that Dell Technologies will post 6.93 earnings per share for the current fiscal year.

Dell Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, October 21st will be paid a dividend of $0.525 per share. This represents a $2.10 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, October 21st. Dell Technologies’s dividend payout ratio (DPR) is presently 30.88%.

Insider Activity

In other news, Director William D. Green sold 42,736 shares of Dell Technologies stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $160.00, for a total transaction of $6,837,760.00. Following the sale, the director directly owned 47,619 shares of the company’s stock, valued at approximately $7,619,040. This trade represents a 47.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director V (Gp) L.L.C. Slta sold 19,256 shares of Dell Technologies stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $154.21, for a total value of $2,969,467.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,734,418 shares of company stock valued at $666,089,211. 42.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dell Technologies

Hedge funds have recently made changes to their positions in the stock. Winnow Wealth LLC bought a new position in shares of Dell Technologies during the second quarter worth about $25,000. Westside Investment Management Inc. raised its position in shares of Dell Technologies by 84.7% during the second quarter. Westside Investment Management Inc. now owns 218 shares of the technology company’s stock worth $27,000 after acquiring an additional 100 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of Dell Technologies during the second quarter worth about $28,000. Central Pacific Bank Trust Division bought a new position in shares of Dell Technologies during the second quarter worth about $29,000. Finally, Johnson Financial Group Inc. raised its position in shares of Dell Technologies by 66.2% during the second quarter. Johnson Financial Group Inc. now owns 251 shares of the technology company’s stock worth $31,000 after acquiring an additional 100 shares during the last quarter. 76.37% of the stock is currently owned by institutional investors.

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).