Dell Technologies (NYSE:DELL) Trading Down 12.2% Following Analyst Downgrade

Dell Technologies Inc. (NYSE:DELL) traded down 12.2% during trading on Thursday after Mizuho lowered their price target on the stock from $155.00 to $150.00. Mizuho currently has an outperform rating on the stock. Dell Technologies traded as low as $121.30 and last traded at $124.38. 38,035,422 shares traded hands during mid-day trading, an increase of 275% from the average session volume of 10,142,419 shares. The stock had previously closed at $141.74.

A number of other brokerages have also issued reports on DELL. JPMorgan Chase & Co. boosted their price target on shares of Dell Technologies from $155.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Wells Fargo & Company boosted their price target on shares of Dell Technologies from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Dell Technologies in a research note on Friday, September 27th. They set a “buy” rating and a $144.00 price target on the stock. Evercore ISI reiterated an “outperform” rating and set a $150.00 price target on shares of Dell Technologies in a research note on Wednesday, November 20th. Finally, Citigroup decreased their price objective on shares of Dell Technologies from $160.00 to $156.00 and set a “buy” rating on the stock in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.18.

Insider Buying and Selling at Dell Technologies

In related news, CEO Michael S. Dell sold 1,839,959 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $106.68, for a total transaction of $196,286,826.12. Following the transaction, the chief executive officer now owns 18,350,822 shares of the company’s stock, valued at approximately $1,957,665,690.96. This represents a 9.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Radakovich Lynn Vojvodich sold 725 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $129.50, for a total transaction of $93,887.50. Following the transaction, the director now directly owns 23,680 shares in the company, valued at $3,066,560. The trade was a 2.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,962,112 shares of company stock valued at $2,114,595,059 over the last quarter. Corporate insiders own 46.70% of the company’s stock.

Hedge Funds Weigh In On Dell Technologies

Institutional investors and hedge funds have recently modified their holdings of the company. GPS Wealth Strategies Group LLC increased its position in Dell Technologies by 1.4% during the second quarter. GPS Wealth Strategies Group LLC now owns 5,959 shares of the technology company’s stock worth $822,000 after purchasing an additional 80 shares during the last quarter. Intrepid Financial Planning Group LLC increased its position in Dell Technologies by 0.7% during the third quarter. Intrepid Financial Planning Group LLC now owns 12,002 shares of the technology company’s stock worth $1,423,000 after purchasing an additional 80 shares during the last quarter. Smithfield Trust Co increased its position in Dell Technologies by 8.0% during the third quarter. Smithfield Trust Co now owns 1,139 shares of the technology company’s stock worth $134,000 after purchasing an additional 84 shares during the last quarter. Graypoint LLC increased its position in Dell Technologies by 4.3% during the third quarter. Graypoint LLC now owns 2,086 shares of the technology company’s stock worth $247,000 after purchasing an additional 86 shares during the last quarter. Finally, Affinity Wealth Management LLC increased its position in Dell Technologies by 2.5% during the third quarter. Affinity Wealth Management LLC now owns 3,560 shares of the technology company’s stock worth $422,000 after purchasing an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 38.10% of the company’s stock.

Dell Technologies Price Performance

The firm’s 50-day moving average is $127.21 and its 200 day moving average is $126.94. The stock has a market cap of $87.36 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 1.51 and a beta of 0.89.

Dell Technologies (NYSE:DELL) last released its quarterly earnings data on Tuesday, November 26th. The technology company reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.32. Dell Technologies had a net margin of 4.32% and a negative return on equity of 178.09%. The company had revenue of $24.37 billion during the quarter, compared to analyst estimates of $24.67 billion. During the same quarter in the prior year, the business earned $1.62 earnings per share. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, sell-side analysts forecast that Dell Technologies Inc. will post 6.93 EPS for the current year.

Dell Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 22nd were given a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Tuesday, October 22nd. Dell Technologies’s payout ratio is currently 32.72%.

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).