Dell Technologies (NYSE:DELL) Price Target Raised to $160.00 at Citigroup

Key Points

• Citigroup has raised its price target for Dell Technologies from $135 to $160, suggesting a potential upside of 15.36% from the stock's previous closing price.
• Despite a recent earnings report that showed a miss in EPS expectations, Dell Technologies reported a year-over-year revenue increase of 5.1%.
• Currently, 16 investment analysts have assigned a buy rating to Dell Technologies, contributing to a consensus rating of "Moderate Buy" with an average target price of $141.53.

Dell Technologies (NYSE:DELL - Free Report) had its target price boosted by Citigroup from $135.00 to $160.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the technology company's stock.

Other analysts have also recently issued reports about the company. Bank of America boosted their price target on Dell Technologies from $155.00 to $165.00 and gave the stock a "buy" rating in a report on Friday, July 18th. UBS Group reduced their price target on Dell Technologies from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Friday, May 30th. KeyCorp assumed coverage on Dell Technologies in a report on Thursday, June 26th. They set a "sector weight" rating on the stock. JPMorgan Chase & Co. boosted their price target on Dell Technologies from $125.00 to $145.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Finally, Barclays boosted their price target on Dell Technologies from $116.00 to $123.00 and gave the stock an "equal weight" rating in a report on Friday, May 30th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Dell Technologies has an average rating of "Moderate Buy" and a consensus target price of $141.82.

Dell Technologies Trading Down 1.6%

Dell Technologies stock traded down $2.31 during midday trading on Monday, reaching $139.33. The company's stock had a trading volume of 6,022,481 shares, compared to its average volume of 5,052,525. Dell Technologies has a 52 week low of $66.25 and a 52 week high of $147.66. The business has a 50-day moving average price of $124.76 and a 200-day moving average price of $108.18. The stock has a market cap of $94.58 billion, a PE ratio of 22.22, a price-to-earnings-growth ratio of 0.99 and a beta of 1.02.

Dell Technologies (NYSE:DELL - Get Free Report) last released its earnings results on Thursday, May 29th. The technology company reported $1.55 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.68 by ($0.13). Dell Technologies had a net margin of 4.63% and a negative return on equity of 226.48%. The business had revenue of $23.38 billion during the quarter, compared to the consensus estimate of $23.17 billion. During the same quarter in the prior year, the firm earned $1.27 EPS. The business's revenue was up 5.1% on a year-over-year basis. As a group, research analysts predict that Dell Technologies will post 6.93 EPS for the current fiscal year.

Dell Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd were paid a $0.525 dividend. The ex-dividend date of this dividend was Tuesday, July 22nd. This represents a $2.10 annualized dividend and a yield of 1.5%. Dell Technologies's payout ratio is 33.49%.

Insider Transactions at Dell Technologies

In other Dell Technologies news, CEO Michael S. Dell sold 10,000,000 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $122.27, for a total value of $1,222,700,000.00. Following the transaction, the chief executive officer directly owned 25,912,241 shares of the company's stock, valued at approximately $3,168,289,707.07. The trade was a 27.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Richard J. Rothberg sold 70,165 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $108.82, for a total value of $7,635,355.30. Following the completion of the transaction, the general counsel directly owned 79,928 shares in the company, valued at approximately $8,697,764.96. This trade represents a 46.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,989,063 shares of company stock valued at $1,583,673,412. 42.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Dell Technologies

Several institutional investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Dell Technologies during the second quarter worth $528,279,000. Michael & Susan Dell Foundation acquired a new position in Dell Technologies during the fourth quarter worth $265,052,000. Janus Henderson Group PLC raised its holdings in Dell Technologies by 160.5% during the fourth quarter. Janus Henderson Group PLC now owns 3,027,066 shares of the technology company's stock worth $348,814,000 after buying an additional 1,865,013 shares during the last quarter. Boston Partners raised its holdings in Dell Technologies by 34.4% during the first quarter. Boston Partners now owns 5,132,877 shares of the technology company's stock worth $466,418,000 after buying an additional 1,312,600 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Dell Technologies by 4.1% during the first quarter. Vanguard Group Inc. now owns 29,106,218 shares of the technology company's stock worth $2,653,032,000 after buying an additional 1,145,658 shares in the last quarter. 76.37% of the stock is owned by institutional investors and hedge funds.

Dell Technologies Company Profile

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).