Dell (NASDAQ:DELL) PT Lowered to $60.00

Dell (NASDAQ:DELL) had its price objective trimmed by Deutsche Bank from $62.00 to $60.00 in a research note released on Monday morning, The Fly reports. The firm currently has a buy rating on the technology company’s stock.

A number of other analysts have also weighed in on DELL. Raymond James reiterated an outperform rating and set a $69.00 target price (down from $74.00) on shares of Dell in a report on Friday, May 31st. Morgan Stanley dropped their target price on shares of Dell from $74.00 to $70.00 and set an equal weight rating for the company in a report on Friday, May 31st. JPMorgan Chase & Co. increased their target price on shares of Dell from $77.00 to $80.00 and gave the stock an overweight rating in a report on Tuesday, June 25th. Barclays started coverage on shares of Dell in a report on Wednesday, August 7th. They set an equal weight rating and a $53.00 target price for the company. Finally, Wells Fargo & Co started coverage on shares of Dell in a report on Monday, July 29th. They set an outperform rating and a $68.00 target price for the company. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Dell currently has a consensus rating of Buy and an average target price of $63.63.

NASDAQ DELL opened at $48.98 on Monday. The company has a 50-day simple moving average of $52.77 and a two-hundred day simple moving average of $57.48. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 2.81. Dell has a 12-month low of $42.02 and a 12-month high of $70.55. The firm has a market cap of $34.80 billion, a price-to-earnings ratio of 7.94 and a beta of 0.47.

Dell (NASDAQ:DELL) last posted its quarterly earnings results on Thursday, May 30th. The technology company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.30. Dell had a negative net margin of 2.84% and a positive return on equity of 31.57%. The business had revenue of $21.91 billion during the quarter, compared to analyst estimates of $22.24 billion. Dell’s revenue was up 2.6% on a year-over-year basis. Equities analysts expect that Dell will post 6.23 earnings per share for the current fiscal year.

In related news, insider Howard D. Elias sold 7,702 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $46.74, for a total value of $359,991.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Karen H. Quintos sold 150,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $49.80, for a total transaction of $7,470,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,599,179 shares of company stock valued at $83,688,997. 46.00% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Hanson McClain Inc. increased its stake in shares of Dell by 823.4% during the first quarter. Hanson McClain Inc. now owns 434 shares of the technology company’s stock valued at $25,000 after purchasing an additional 387 shares in the last quarter. Trustcore Financial Services LLC bought a new position in shares of Dell during the first quarter valued at approximately $26,000. Israel Discount Bank of New York bought a new position in shares of Dell during the first quarter valued at approximately $27,000. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund bought a new position in shares of Dell during the first quarter valued at approximately $27,000. Finally, Lindbrook Capital LLC bought a new position in shares of Dell during the first quarter valued at approximately $28,000. 22.92% of the stock is owned by institutional investors.

About Dell

Dell Inc (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels. Dell is a holding company that conducts its business worldwide through its subsidiaries. The Company operates in four segments: Large Enterprise, Public, Small and Medium Business, and Consumer.

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