Dell Technologies (NYSE:DELL) Stock Price Down 3% on Analyst Downgrade

Dell Technologies Inc. (NYSE:DELL)’s share price dropped 3% during trading on Tuesday after Loop Capital lowered their price target on the stock from $185.00 to $130.00. Loop Capital currently has a buy rating on the stock. Dell Technologies traded as low as $92.41 and last traded at $92.72. Approximately 5,131,487 shares traded hands during mid-day trading, a decline of 41% from the average daily volume of 8,729,166 shares. The stock had previously closed at $95.56.

A number of other equities research analysts have also recently issued reports on DELL. JPMorgan Chase & Co. cut their target price on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Deutsche Bank Aktiengesellschaft dropped their target price on Dell Technologies from $144.00 to $142.00 and set a “buy” rating on the stock in a report on Monday, December 2nd. Melius Research boosted their price objective on Dell Technologies from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Mizuho lowered their target price on Dell Technologies from $155.00 to $150.00 and set an “outperform” rating on the stock in a report on Wednesday, November 27th. Finally, UBS Group lowered their price objective on shares of Dell Technologies from $158.00 to $150.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $141.24.

Insider Activity

In other news, Director Radakovich Lynn Vojvodich sold 725 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $120.00, for a total value of $87,000.00. Following the sale, the director now directly owns 23,680 shares of the company’s stock, valued at approximately $2,841,600. This trade represents a 2.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director V (Gp) L.L.C. Slta sold 325,167 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $124.52, for a total value of $40,489,794.84. Following the sale, the director now owns 810,657 shares of the company’s stock, valued at approximately $100,943,009.64. The trade was a 28.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 929,407 shares of company stock valued at $113,411,626. Insiders own 46.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DELL. State Street Corp raised its stake in shares of Dell Technologies by 92.4% in the 3rd quarter. State Street Corp now owns 12,767,011 shares of the technology company’s stock valued at $1,513,401,000 after buying an additional 6,131,507 shares in the last quarter. Norges Bank acquired a new position in Dell Technologies in the fourth quarter worth about $455,029,000. Vanguard Group Inc. lifted its stake in Dell Technologies by 10.5% during the fourth quarter. Vanguard Group Inc. now owns 27,960,560 shares of the technology company’s stock worth $3,222,175,000 after purchasing an additional 2,662,407 shares during the period. Geode Capital Management LLC boosted its holdings in Dell Technologies by 71.8% during the third quarter. Geode Capital Management LLC now owns 6,317,829 shares of the technology company’s stock valued at $746,596,000 after purchasing an additional 2,641,456 shares in the last quarter. Finally, Michael & Susan Dell Foundation bought a new stake in shares of Dell Technologies in the 4th quarter valued at approximately $265,052,000. 76.37% of the stock is currently owned by institutional investors and hedge funds.

Dell Technologies Trading Down 1.4 %

The firm has a market capitalization of $65.99 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 1.10 and a beta of 0.90. The stock has a fifty day moving average price of $111.61 and a 200-day moving average price of $118.18.

Dell Technologies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Tuesday, April 22nd will be paid 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 2.23%. This is a boost from Dell Technologies’s previous quarterly dividend of $0.45. Dell Technologies’s payout ratio is 33.76%.

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).