Citigroup Increases Dell Technologies (NYSE:DELL) Price Target to $170.00

Dell Technologies (NYSE:DELL) had its price target raised by Citigroup from $125.00 to $170.00 in a research report released on Tuesday, Marketbeat.com reports. They currently have a buy rating on the technology company’s stock.

A number of other analysts also recently weighed in on the company. Loop Capital began coverage on Dell Technologies in a research report on Wednesday, February 28th. They issued a buy rating and a $125.00 target price for the company. Wells Fargo & Company upped their price objective on shares of Dell Technologies from $140.00 to $170.00 and gave the company an overweight rating in a research note on Tuesday. Sanford C. Bernstein lifted their target price on shares of Dell Technologies from $120.00 to $155.00 and gave the stock an outperform rating in a research report on Monday, May 20th. TD Cowen raised their price objective on Dell Technologies from $75.00 to $105.00 and gave the company a market perform rating in a research note on Friday, March 1st. Finally, The Goldman Sachs Group boosted their target price on Dell Technologies from $87.00 to $129.00 and gave the company a buy rating in a research note on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $122.00.

Dell Technologies Price Performance

Shares of Dell Technologies stock opened at $160.18 on Tuesday. The company has a 50 day simple moving average of $125.93 and a two-hundred day simple moving average of $97.72. The firm has a market cap of $114.33 billion, a PE ratio of 36.65, a PEG ratio of 2.31 and a beta of 0.87. Dell Technologies has a 1 year low of $44.45 and a 1 year high of $166.77.

Dell Technologies (NYSE:DELL) last announced its earnings results on Thursday, February 29th. The technology company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.47. Dell Technologies had a net margin of 3.63% and a negative return on equity of 172.07%. The company had revenue of $22.32 billion during the quarter, compared to analyst estimates of $22.17 billion. During the same period in the previous year, the business earned $1.55 earnings per share. The firm’s quarterly revenue was down 10.9% compared to the same quarter last year. As a group, research analysts anticipate that Dell Technologies will post 6.74 earnings per share for the current year.

Dell Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 3rd. Investors of record on Tuesday, April 23rd were issued a $0.445 dividend. The ex-dividend date of this dividend was Monday, April 22nd. This represents a $1.78 annualized dividend and a yield of 1.11%. This is a boost from Dell Technologies’s previous quarterly dividend of $0.37. Dell Technologies’s payout ratio is 40.73%.

Insiders Place Their Bets

In related news, CEO Michael S. Dell sold 624,450 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $119.80, for a total transaction of $74,809,110.00. Following the transaction, the chief executive officer now owns 39,787,791 shares in the company, valued at $4,766,577,361.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Michael S. Dell sold 624,450 shares of Dell Technologies stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $119.80, for a total transaction of $74,809,110.00. Following the sale, the chief executive officer now directly owns 39,787,791 shares in the company, valued at $4,766,577,361.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael S. Dell sold 41,550 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $107.03, for a total value of $4,447,096.50. Following the transaction, the chief executive officer now directly owns 36,389,719 shares of the company’s stock, valued at approximately $3,894,791,624.57. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,382,204 shares of company stock worth $718,452,037. 48.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in DELL. Massmutual Trust Co. FSB ADV increased its stake in Dell Technologies by 58.2% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 223 shares of the technology company’s stock valued at $25,000 after purchasing an additional 82 shares in the last quarter. New Covenant Trust Company N.A. bought a new stake in Dell Technologies in the 1st quarter worth about $30,000. Central Bank & Trust Co. purchased a new position in Dell Technologies in the 1st quarter worth about $34,000. Jones Financial Companies Lllp bought a new position in Dell Technologies during the 4th quarter valued at about $25,000. Finally, EntryPoint Capital LLC boosted its holdings in shares of Dell Technologies by 748.7% during the 1st quarter. EntryPoint Capital LLC now owns 331 shares of the technology company’s stock valued at $38,000 after acquiring an additional 292 shares during the last quarter. Hedge funds and other institutional investors own 38.10% of the company’s stock.

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).