Dell Technologies (NYSE:DELL) Stock Price Down 5.5% After Analyst Downgrade

Dell Technologies Inc. (NYSE:DELL)’s stock price fell 5.5% during mid-day trading on Friday after UBS Group lowered their price target on the stock from $158.00 to $150.00. UBS Group currently has a buy rating on the stock. Dell Technologies traded as low as $99.00 and last traded at $101.86. 9,765,437 shares changed hands during mid-day trading, an increase of 16% from the average session volume of 8,444,978 shares. The stock had previously closed at $107.83.

A number of other equities analysts also recently commented on DELL. Evercore ISI reiterated an “outperform” rating and set a $150.00 price objective on shares of Dell Technologies in a research report on Wednesday, November 20th. Citigroup reduced their price objective on Dell Technologies from $156.00 to $145.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Morgan Stanley reduced their price objective on Dell Technologies from $154.00 to $128.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. TD Cowen reduced their price objective on Dell Technologies from $128.00 to $120.00 and set a “hold” rating on the stock in a research report on Friday. Finally, Barclays lifted their price objective on Dell Technologies from $106.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 27th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $143.53.

Insider Activity at Dell Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $119.73, for a total value of $59,750,657.85. Following the sale, the director now owns 810,657 shares in the company, valued at approximately $97,059,962.61. The trade was a 38.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Radakovich Lynn Vojvodich sold 725 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $120.00, for a total value of $87,000.00. Following the completion of the sale, the director now owns 23,680 shares in the company, valued at $2,841,600. This represents a 2.97 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 937,407 shares of company stock worth $114,418,186. 46.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DELL. Optimist Retirement Group LLC grew its stake in Dell Technologies by 27.3% during the 3rd quarter. Optimist Retirement Group LLC now owns 2,157 shares of the technology company’s stock worth $256,000 after purchasing an additional 463 shares in the last quarter. abrdn plc grew its stake in Dell Technologies by 1,474.6% during the 3rd quarter. abrdn plc now owns 104,630 shares of the technology company’s stock worth $12,360,000 after purchasing an additional 97,985 shares in the last quarter. First Trust Direct Indexing L.P. grew its stake in Dell Technologies by 41.5% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,698 shares of the technology company’s stock worth $557,000 after purchasing an additional 1,379 shares in the last quarter. US Bancorp DE grew its stake in Dell Technologies by 11.7% during the 3rd quarter. US Bancorp DE now owns 29,730 shares of the technology company’s stock worth $3,524,000 after purchasing an additional 3,116 shares in the last quarter. Finally, Cigna Investments Inc. New grew its stake in Dell Technologies by 7.4% during the 3rd quarter. Cigna Investments Inc. New now owns 2,788 shares of the technology company’s stock worth $331,000 after purchasing an additional 193 shares in the last quarter. 76.37% of the stock is owned by institutional investors and hedge funds.

Dell Technologies Stock Performance

The firm has a market capitalization of $72.04 billion, a price-to-earnings ratio of 18.17, a PEG ratio of 1.10 and a beta of 0.90. The company has a 50-day moving average price of $112.57 and a 200-day moving average price of $118.30.

Dell Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Tuesday, April 22nd will be issued a $0.525 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.04%. This is an increase from Dell Technologies’s previous quarterly dividend of $0.45. Dell Technologies’s dividend payout ratio is presently 31.45%.

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).