Sanford C. Bernstein Cuts Dell Technologies (NYSE:DELL) Price Target to $140.00

Dell Technologies (NYSE:DELL) had its price objective trimmed by Sanford C. Bernstein from $155.00 to $140.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Several other equities research analysts have also commented on the stock. Morgan Stanley reduced their price target on shares of Dell Technologies from $142.00 to $136.00 and set an overweight rating for the company in a research report on Thursday. JPMorgan Chase & Co. upped their price target on shares of Dell Technologies from $155.00 to $160.00 and gave the company an overweight rating in a research report on Thursday, August 15th. Raymond James reduced their target price on shares of Dell Technologies from $166.00 to $160.00 and set an outperform rating for the company in a report on Friday. Evercore ISI reissued an outperform rating and issued a $140.00 target price on shares of Dell Technologies in a report on Wednesday, August 28th. Finally, Loop Capital increased their target price on shares of Dell Technologies from $125.00 to $185.00 and gave the stock a buy rating in a report on Tuesday, May 28th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $136.80.

Dell Technologies Stock Performance

DELL opened at $115.54 on Friday. The stock has a market capitalization of $81.95 billion, a P/E ratio of 23.58, a P/E/G ratio of 1.43 and a beta of 0.92. The company’s 50-day simple moving average is $120.21 and its two-hundred day simple moving average is $122.49. Dell Technologies has a 52-week low of $53.62 and a 52-week high of $179.70.

Dell Technologies (NYSE:DELL) last released its quarterly earnings results on Thursday, August 29th. The technology company reported $1.89 EPS for the quarter, beating the consensus estimate of $1.49 by $0.40. Dell Technologies had a net margin of 4.32% and a negative return on equity of 182.71%. The firm had revenue of $25.03 billion during the quarter, compared to analyst estimates of $24.14 billion. During the same quarter in the prior year, the firm earned $1.44 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. Research analysts forecast that Dell Technologies will post 6.86 EPS for the current fiscal year.

Dell Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Shareholders of record on Tuesday, July 23rd were issued a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Tuesday, July 23rd. Dell Technologies’s dividend payout ratio (DPR) is currently 36.33%.

Insider Buying and Selling at Dell Technologies

In other news, CMO Jane Tunnell sold 3,624 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $145.98, for a total transaction of $529,031.52. Following the completion of the transaction, the chief marketing officer now directly owns 89,294 shares in the company, valued at approximately $13,035,138.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CMO Jane Tunnell sold 3,624 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $145.98, for a total transaction of $529,031.52. Following the completion of the transaction, the chief marketing officer now directly owns 89,294 shares in the company, valued at approximately $13,035,138.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lake Group L.L.C. Silver sold 25,381 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $134.42, for a total value of $3,411,714.02. Following the transaction, the director now owns 787,669 shares of the company’s stock, valued at $105,878,466.98. The disclosure for this sale can be found here. Insiders sold a total of 7,041,697 shares of company stock valued at $961,072,399 in the last three months. 46.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Dell Technologies

Institutional investors have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Dell Technologies by 22.7% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 135,678 shares of the technology company’s stock worth $15,482,000 after buying an additional 25,117 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Dell Technologies by 171.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 16,378 shares of the technology company’s stock worth $1,253,000 after purchasing an additional 10,350 shares during the last quarter. LRI Investments LLC bought a new stake in shares of Dell Technologies during the first quarter worth $104,000. Oppenheimer Asset Management Inc. lifted its position in shares of Dell Technologies by 31.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 6,485 shares of the technology company’s stock worth $740,000 after purchasing an additional 1,539 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in shares of Dell Technologies during the fourth quarter worth $410,000. 38.10% of the stock is currently owned by institutional investors.

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).