Wells Fargo & Company Boosts Dell Technologies (NYSE:DELL) Price Target to $170.00

Dell Technologies (NYSE:DELL) had its price target lifted by Wells Fargo & Company from $140.00 to $170.00 in a research report released on Tuesday morning, Marketbeat reports. Wells Fargo & Company currently has an overweight rating on the technology company’s stock.

Several other research firms have also issued reports on DELL. Morgan Stanley increased their price objective on Dell Technologies from $128.00 to $152.00 and gave the stock an overweight rating in a research note on Wednesday, May 15th. UBS Group lifted their price target on shares of Dell Technologies from $113.00 to $141.00 and gave the company a buy rating in a report on Friday, April 19th. TD Cowen raised their price objective on shares of Dell Technologies from $75.00 to $105.00 and gave the stock a market perform rating in a report on Friday, March 1st. JPMorgan Chase & Co. boosted their target price on Dell Technologies from $125.00 to $155.00 and gave the stock an overweight rating in a report on Monday, May 20th. Finally, The Goldman Sachs Group raised their price target on Dell Technologies from $87.00 to $129.00 and gave the company a buy rating in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Dell Technologies presently has a consensus rating of Moderate Buy and a consensus target price of $122.00.

Dell Technologies Price Performance

Shares of Dell Technologies stock opened at $160.18 on Tuesday. The company’s fifty day moving average price is $125.93 and its two-hundred day moving average price is $97.72. The firm has a market capitalization of $114.33 billion, a PE ratio of 36.65, a price-to-earnings-growth ratio of 2.31 and a beta of 0.87. Dell Technologies has a 52-week low of $44.45 and a 52-week high of $166.77.

Dell Technologies (NYSE:DELL) last announced its quarterly earnings results on Thursday, February 29th. The technology company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $22.32 billion during the quarter, compared to analysts’ expectations of $22.17 billion. During the same quarter last year, the company earned $1.55 earnings per share. The company’s revenue for the quarter was down 10.9% compared to the same quarter last year. Analysts predict that Dell Technologies will post 6.74 earnings per share for the current fiscal year.

Dell Technologies Increases Dividend

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

Insiders Place Their Bets

In related news, CEO Michael S. Dell sold 41,550 shares of Dell Technologies stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $107.03, for a total transaction of $4,447,096.50. Following the transaction, the chief executive officer now owns 36,389,719 shares of the company’s stock, valued at approximately $3,894,791,624.57. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel Richard J. Rothberg sold 93,954 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $132.95, for a total transaction of $12,491,184.30. Following the completion of the sale, the general counsel now owns 86,836 shares of the company’s stock, valued at $11,544,846.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael S. Dell sold 41,550 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $107.03, for a total transaction of $4,447,096.50. Following the completion of the sale, the chief executive officer now directly owns 36,389,719 shares in the company, valued at $3,894,791,624.57. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,382,204 shares of company stock worth $718,452,037. Insiders own 48.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Jones Financial Companies Lllp bought a new stake in shares of Dell Technologies in the fourth quarter worth $25,000. Massmutual Trust Co. FSB ADV increased its position in shares of Dell Technologies by 58.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 223 shares of the technology company’s stock valued at $25,000 after acquiring an additional 82 shares during the last quarter. Anchor Investment Management LLC bought a new stake in Dell Technologies during the fourth quarter worth about $26,000. Pinnacle Bancorp Inc. grew its stake in Dell Technologies by 96.9% in the fourth quarter. Pinnacle Bancorp Inc. now owns 382 shares of the technology company’s stock valued at $29,000 after purchasing an additional 188 shares in the last quarter. Finally, New Covenant Trust Company N.A. acquired a new position in shares of Dell Technologies during the 1st quarter worth approximately $30,000. 38.10% of the stock is currently owned by institutional investors.

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).