Dell Technologies (NYSE:DELL) Trading Up 6.2% After Analyst Upgrade

Dell Technologies Inc. (NYSE:DELL)’s stock price shot up 6.2% during trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $155.00 to $160.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Dell Technologies traded as high as $109.80 and last traded at $109.35. 5,991,263 shares were traded during mid-day trading, a decline of 41% from the average session volume of 10,219,899 shares. The stock had previously closed at $102.95.

Other equities research analysts also recently issued research reports about the company. TD Cowen increased their price objective on Dell Technologies from $105.00 to $155.00 and gave the stock a “hold” rating in a research report on Friday, May 31st. UBS Group raised their price target on Dell Technologies from $113.00 to $141.00 and gave the company a “buy” rating in a report on Friday, April 19th. Loop Capital boosted their price objective on Dell Technologies from $125.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Wells Fargo & Company lowered their target price on shares of Dell Technologies from $175.00 to $150.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Bank of America boosted their price target on shares of Dell Technologies from $130.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Dell Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $132.06.

Insider Activity at Dell Technologies

In other news, Director V (Gp) L.L.C. Slta sold 389,189 shares of Dell Technologies stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $158.79, for a total value of $61,799,321.31. Following the transaction, the director now owns 731,612 shares in the company, valued at $116,172,669.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Dell Technologies news, Director Iv (Gp) L.L.C. Slta sold 16,434 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $135.16, for a total value of $2,221,219.44. Following the transaction, the director now owns 806,352 shares in the company, valued at $108,986,536.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director V (Gp) L.L.C. Slta sold 389,189 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $158.79, for a total transaction of $61,799,321.31. Following the sale, the director now owns 731,612 shares of the company’s stock, valued at $116,172,669.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,058,131 shares of company stock valued at $963,293,619. Insiders own 46.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dark Forest Capital Management LP bought a new stake in Dell Technologies in the second quarter valued at $585,000. Element Pointe Advisors LLC bought a new stake in shares of Dell Technologies during the 2nd quarter valued at about $493,000. APG Asset Management N.V. increased its position in shares of Dell Technologies by 24.0% during the second quarter. APG Asset Management N.V. now owns 285,454 shares of the technology company’s stock valued at $36,731,000 after buying an additional 55,320 shares during the period. Caxton Associates LP raised its stake in Dell Technologies by 71.1% in the second quarter. Caxton Associates LP now owns 76,122 shares of the technology company’s stock worth $10,498,000 after buying an additional 31,622 shares in the last quarter. Finally, Troluce Capital Advisors LLC purchased a new stake in Dell Technologies in the second quarter worth about $13,791,000. Institutional investors own 38.10% of the company’s stock.

Dell Technologies Stock Performance

The company has a 50-day simple moving average of $126.73 and a two-hundred day simple moving average of $120.24. The firm has a market capitalization of $78.12 billion, a P/E ratio of 22.48, a PEG ratio of 1.34 and a beta of 0.92.

Dell Technologies (NYSE:DELL) last released its quarterly earnings results on Thursday, May 30th. The technology company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.04. The company had revenue of $22.24 billion for the quarter, compared to analyst estimates of $21.70 billion. Dell Technologies had a negative return on equity of 173.72% and a net margin of 4.00%. As a group, research analysts forecast that Dell Technologies Inc. will post 6.85 earnings per share for the current fiscal year.

Dell Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Tuesday, July 23rd were given a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Tuesday, July 23rd. Dell Technologies’s dividend payout ratio is presently 36.33%.

About Dell Technologies

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).