Dell Technologies (NYSE:DELL) Price Target Increased to $50.00 by Analysts at Raymond James

Dell Technologies (NYSE:DELLGet Rating) had its price target lifted by Raymond James from $47.00 to $50.00 in a research note released on Tuesday, The Fly reports. They currently have an outperform rating on the technology company’s stock.

Several other research firms have also recently commented on DELL. Jefferies Financial Group started coverage on Dell Technologies in a research report on Monday, October 31st. They set a hold rating and a $39.00 target price for the company. Citigroup cut their price objective on Dell Technologies from $60.00 to $55.00 and set a buy rating for the company in a report on Friday, November 18th. Cowen cut their price objective on Dell Technologies from $58.00 to $45.00 and set a market perform rating for the company in a report on Friday, August 26th. Deutsche Bank Aktiengesellschaft cut their price objective on Dell Technologies from $60.00 to $55.00 and set a buy rating for the company in a report on Friday, August 26th. Finally, Bank of America cut their price objective on Dell Technologies from $66.00 to $60.00 and set a buy rating for the company in a report on Friday, August 26th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Dell Technologies presently has a consensus rating of Moderate Buy and an average price target of $50.38.

Dell Technologies Stock Up 6.8 %

Dell Technologies stock opened at $43.85 on Tuesday. Dell Technologies has a 52 week low of $32.90 and a 52 week high of $61.54. The business has a 50-day simple moving average of $37.60 and a 200 day simple moving average of $42.39. The stock has a market cap of $32.14 billion, a price-to-earnings ratio of 6.34, a PEG ratio of 0.62 and a beta of 0.92.

Dell Technologies (NYSE:DELLGet Rating) last posted its earnings results on Monday, November 21st. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $1.59 by $0.71. Dell Technologies had a return on equity of 305.10% and a net margin of 4.98%. The business had revenue of $24.72 million during the quarter, compared to analysts’ expectations of $24.61 billion. During the same period in the previous year, the business earned $2.37 earnings per share. The firm’s revenue was down 6.4% on a year-over-year basis. On average, research analysts anticipate that Dell Technologies will post 5.69 earnings per share for the current year.

Dell Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Wednesday, October 19th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date was Tuesday, October 18th. Dell Technologies’s dividend payout ratio (DPR) is presently 19.08%.

Insider Activity

In other Dell Technologies news, insider William F. Scannell sold 27,536 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $40.20, for a total transaction of $1,106,947.20. Following the completion of the transaction, the insider now owns 343,835 shares of the company’s stock, valued at approximately $13,822,167. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 47.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its position in Dell Technologies by 0.8% during the 1st quarter. BlackRock Inc. now owns 20,537,671 shares of the technology company’s stock valued at $1,030,788,000 after purchasing an additional 156,953 shares during the last quarter. Vanguard Group Inc. raised its position in Dell Technologies by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 17,498,328 shares of the technology company’s stock valued at $878,241,000 after purchasing an additional 301,756 shares during the last quarter. State Street Corp raised its position in Dell Technologies by 2.0% during the 1st quarter. State Street Corp now owns 7,107,031 shares of the technology company’s stock valued at $356,702,000 after purchasing an additional 138,821 shares during the last quarter. LSV Asset Management raised its position in Dell Technologies by 4.9% during the 3rd quarter. LSV Asset Management now owns 6,028,475 shares of the technology company’s stock valued at $205,993,000 after purchasing an additional 283,988 shares during the last quarter. Finally, Lyrical Asset Management LP raised its position in Dell Technologies by 2.0% during the 1st quarter. Lyrical Asset Management LP now owns 5,238,044 shares of the technology company’s stock valued at $262,897,000 after purchasing an additional 100,912 shares during the last quarter. Institutional investors own 26.53% of the company’s stock.

About Dell Technologies

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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).

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