Dell Technologies (NYSE:DELL) Shares Down 3.2% Following Analyst Downgrade

Dell Technologies Inc. (NYSE:DELL)’s stock price fell 3.2% during trading on Thursday after Morgan Stanley lowered their price target on the stock from $154.00 to $128.00. Morgan Stanley currently has an overweight rating on the stock. Dell Technologies traded as low as $109.26 and last traded at $109.34. 2,275,012 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 7,886,983 shares. The stock had previously closed at $112.92.

DELL has been the subject of a number of other research reports. JPMorgan Chase & Co. decreased their price objective on shares of Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Tuesday. Citigroup dropped their target price on shares of Dell Technologies from $160.00 to $156.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Evercore ISI reiterated an “outperform” rating and issued a $150.00 target price on shares of Dell Technologies in a report on Wednesday, November 20th. Melius Research lifted their target price on shares of Dell Technologies from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Mizuho decreased their price target on shares of Dell Technologies from $155.00 to $150.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 27th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $145.94.

Insiders Place Their Bets

In other news, CFO Yvonne Mcgill sold 8,000 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $143.24, for a total value of $1,145,920.00. Following the transaction, the chief financial officer now directly owns 236,419 shares of the company’s stock, valued at $33,864,657.56. This represents a 3.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Radakovich Lynn Vojvodich sold 725 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $132.28, for a total transaction of $95,903.00. Following the completion of the transaction, the director now directly owns 23,680 shares in the company, valued at $3,132,390.40. The trade was a 2.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 946,132 shares of company stock valued at $115,660,009. 46.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dell Technologies

Several large investors have recently modified their holdings of the stock. Vision Financial Markets LLC bought a new position in Dell Technologies during the fourth quarter worth about $26,000. Lee Danner & Bass Inc. bought a new position in Dell Technologies during the fourth quarter worth about $26,000. Byrne Asset Management LLC bought a new position in Dell Technologies during the fourth quarter worth about $28,000. True Wealth Design LLC increased its position in Dell Technologies by 2,530.0% during 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 during the period. Finally, MCF Advisors LLC increased its position in Dell Technologies by 132.0% during the third quarter. MCF Advisors LLC now owns 290 shares of the technology company’s stock worth $34,000 after acquiring an additional 165 shares during the period. 76.37% of the stock is owned by institutional investors.

Dell Technologies Price Performance

The firm has a market capitalization of $77.17 billion, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 0.91 and a beta of 0.90. The business’s 50-day moving average is $113.66 and its 200 day moving average is $117.15.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings data 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. The business had revenue of $24.37 billion during the quarter, compared to analyst estimates of $24.67 billion. Dell Technologies had a net margin of 4.36% and a negative return on equity of 191.91%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the business earned $1.62 EPS. Analysts anticipate that Dell Technologies Inc. will post 6.92 EPS for the current fiscal year.

Dell Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Wednesday, January 22nd were issued a $0.445 dividend. The ex-dividend date was Wednesday, January 22nd. This represents a $1.78 dividend on an annualized basis and a yield of 1.62%. Dell Technologies’s dividend payout ratio (DPR) is presently 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).