Morgan Stanley cut shares of Dell Technologies (NYSE:DELL – Get Rating) from an overweight rating to an equal weight rating in a report issued on Thursday, Marketbeat reports. The firm currently has $60.00 price objective on the technology company’s stock, down from their previous price objective of $66.00.
DELL has been the subject of several other research reports. TheStreet cut shares of Dell Technologies from a b rating to a c+ rating in a research report on Friday, February 25th. Barclays cut their price target on shares of Dell Technologies from $59.00 to $54.00 in a research note on Friday, February 25th. Evercore ISI raised shares of Dell Technologies from an in-line rating to an outperform rating and set a $60.00 price target on the stock in a research note on Tuesday, March 8th. Sanford C. Bernstein raised shares of Dell Technologies from a market perform rating to an outperform rating and boosted their price objective for the stock from $35.57 to $72.00 in a research report on Monday, January 10th. Finally, Raymond James cut their price objective on shares of Dell Technologies from $60.00 to $57.00 and set an outperform rating on the stock in a research report on Monday, February 28th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $87.69.
Shares of DELL opened at $50.19 on Thursday. The company’s fifty day moving average is $55.02 and its 200-day moving average is $68.15. Dell Technologies has a 12 month low of $43.81 and a 12 month high of $61.54. The firm has a market cap of $38.34 billion, a price-to-earnings ratio of 7.12, a price-to-earnings-growth ratio of 0.81 and a beta of 0.92. The company has a quick ratio of 0.70, a current ratio of 0.80 and a debt-to-equity ratio of 2.23.
Dell Technologies (NYSE:DELL – Get Rating) last issued its quarterly earnings results on Thursday, February 24th. The technology company reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.23). The company had revenue of $27.99 billion during the quarter, compared to the consensus estimate of $27.52 billion. Dell Technologies had a net margin of 5.20% and a return on equity of 87.33%. Dell Technologies’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period last year, the company earned $2.70 earnings per share. As a group, research analysts predict that Dell Technologies will post 5.58 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 29th. Shareholders of record on Wednesday, April 20th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, April 19th. This is a boost from Dell Technologies’s previous quarterly dividend of $0.08. This represents a $1.32 annualized dividend and a yield of 2.63%.
In other news, insider Howard D. Elias sold 67,613 shares of Dell Technologies stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $54.67, for a total transaction of $3,696,402.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Richard J. Rothberg sold 64,895 shares of the business’s stock in a transaction that occurred on Thursday, March 24th. The stock was sold at an average price of $52.58, for a total value of $3,412,179.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 257,226 shares of company stock worth $13,783,489. Company insiders own 47.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Point Break Capital Management LLC purchased a new stake in shares of Dell Technologies in the third quarter worth $83,232,000. Qtron Investments LLC grew its position in shares of Dell Technologies by 14.3% during the third quarter. Qtron Investments LLC now owns 9,765 shares of the technology company’s stock worth $1,016,000 after purchasing an additional 1,218 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Dell Technologies by 3.7% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 516,252 shares of the technology company’s stock worth $53,710,000 after purchasing an additional 18,475 shares in the last quarter. Saltoro Capital LP purchased a new position in Dell Technologies during the 3rd quarter valued at approximately $2,271,000. Finally, Ritholtz Wealth Management grew its holdings in Dell Technologies by 49.0% during the 4th quarter. Ritholtz Wealth Management now owns 20,380 shares of the technology company’s stock valued at $1,145,000 after buying an additional 6,702 shares in the last quarter. Hedge funds and other institutional investors own 32.20% of the company’s stock.
Dell Technologies Company Profile (Get Rating)
Dell Technologies Inc designs, develops, manufactures, markets, sells, and supports Information technology solutions, products, and services worldwide. It operates through three segments: Infrastructure Solutions Group (ISG), Client Solutions Group (CSG), and VMware. The ISG segment provides traditional and next-generation storage solutions; and rack, blade, tower, and hyperscale servers.
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