Dell Technologies (NYSE:DELL) Shares Down 0.2% Following Analyst Downgrade

Dell Technologies Inc. (NYSE:DELL) shares traded down 0.2% during mid-day trading on Tuesday after Citigroup lowered their price target on the stock from $145.00 to $105.00. Citigroup currently has a buy rating on the stock. Dell Technologies traded as low as $84.32 and last traded at $85.01. 1,872,955 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 10,356,926 shares. The stock had previously closed at $85.19.

Several other research analysts have also recently weighed in on DELL. Morgan Stanley dropped their price target on shares of Dell Technologies from $154.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. UBS Group cut their price target on Dell Technologies from $158.00 to $150.00 and set a “buy” rating for the company in a report on Friday, February 28th. Wells Fargo & Company decreased their price objective on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Bank of America cut their price objective on Dell Technologies from $155.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Finally, OTR Global upgraded shares of Dell Technologies from a “negative” rating to a “positive” rating in a research note on Wednesday, February 12th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Dell Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $138.88.

Insider Activity

In other news, CAO Brunilda Rios sold 926 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $93.29, for a total value of $86,386.54. Following the completion of the sale, the chief accounting officer now directly owns 37,948 shares of the company’s stock, valued at $3,540,168.92. This trade represents a 2.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Radakovich Lynn Vojvodich sold 725 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $120.00, for a total transaction of $87,000.00. Following the transaction, the director now owns 23,680 shares in the company, valued at $2,841,600. This trade represents a 2.97 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 46.70% of the company’s stock.

Hedge Funds Weigh In On Dell Technologies

Several hedge funds have recently bought and sold shares of the business. Bellwether Advisors LLC bought a new position in shares of Dell Technologies during the 4th quarter worth $25,000. Vision Financial Markets LLC bought a new position in Dell Technologies during the 4th quarter worth about $26,000. Lee Danner & Bass Inc. purchased a new position in Dell Technologies during the 4th quarter valued at about $26,000. Byrne Asset Management LLC purchased a new stake in shares of Dell Technologies in the 4th quarter worth approximately $28,000. Finally, Versant Capital Management Inc boosted its stake in shares of Dell Technologies by 54.7% during the fourth quarter. Versant Capital Management Inc now owns 314 shares of the technology company’s stock valued at $36,000 after purchasing an additional 111 shares in the last quarter. Institutional investors own 76.37% of the company’s stock.

Dell Technologies Price Performance

The company’s fifty day moving average is $97.77 and its 200-day moving average is $113.07. The company has a market capitalization of $59.67 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 1.10 and a beta of 0.94.

Dell Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Tuesday, April 22nd will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a dividend yield of 2.46%. This is a positive change from Dell Technologies’s previous quarterly dividend of $0.45. The ex-dividend date is Tuesday, April 22nd. Dell Technologies’s payout ratio is presently 33.76%.

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).