Dell Technologies (NYSE:DELL) Stock Price Up 4.4% Following Analyst Upgrade

Dell Technologies Inc. (NYSE:DELL - Get Free Report)'s stock price shot up 4.4% on Friday after Bank of America raised their price target on the stock from $155.00 to $165.00. Bank of America currently has a buy rating on the stock. Dell Technologies traded as high as $130.40 and last traded at $129.38. 3,259,489 shares were traded during mid-day trading, a decline of 56% from the average session volume of 7,468,816 shares. The stock had previously closed at $123.88.

DELL has been the subject of several other research reports. UBS Group lowered their price target on shares of Dell Technologies from $150.00 to $145.00 and set a "buy" rating for the company in a report on Friday, May 30th. Morgan Stanley lifted their target price on Dell Technologies from $89.00 to $126.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Raymond James Financial lifted their target price on Dell Technologies from $144.00 to $150.00 and gave the stock an "outperform" rating in a report on Friday, May 30th. Citigroup lifted their target price on Dell Technologies from $128.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Finally, Wall Street Zen downgraded Dell Technologies from a "buy" rating to a "hold" rating in a report on Monday, July 14th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $140.06.

Insider Buying and Selling

In other news, Director Iv (Gp) L.L.C. Slta sold 600,000 shares of the business's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $127.56, for a total value of $76,536,000.00. Following the transaction, the director directly owned 980,295 shares in the company, valued at $125,046,430.20. The trade was a 37.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Brunilda Rios sold 6,000 shares of the business's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $126.29, for a total value of $757,740.00. Following the completion of the sale, the chief accounting officer owned 18,948 shares in the company, valued at $2,392,942.92. This represents a 24.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,897,063 shares of company stock valued at $1,570,909,812 over the last ninety days. 42.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Dell Technologies

Several large investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC grew its stake in shares of Dell Technologies by 42.7% during the fourth quarter. Brighton Jones LLC now owns 3,011 shares of the technology company's stock valued at $347,000 after buying an additional 901 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Dell Technologies during the fourth quarter valued at approximately $237,000. Envestnet Portfolio Solutions Inc. grew its stake in shares of Dell Technologies by 93.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 16,765 shares of the technology company's stock valued at $1,932,000 after buying an additional 8,113 shares during the last quarter. Creative Financial Designs Inc. ADV grew its stake in shares of Dell Technologies by 144.4% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 457 shares of the technology company's stock valued at $53,000 after buying an additional 270 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Dell Technologies by 8.9% during the fourth quarter. Parallel Advisors LLC now owns 5,876 shares of the technology company's stock valued at $677,000 after buying an additional 479 shares during the last quarter. 76.37% of the stock is owned by institutional investors.

Dell Technologies Stock Up 5.8%

The stock has a market cap of $88.98 billion, a P/E ratio of 20.91, a PEG ratio of 1.14 and a beta of 1.02. The business has a 50 day moving average price of $117.32 and a 200 day moving average price of $105.99.

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

Dell Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Tuesday, July 22nd will be issued a dividend of $0.525 per share. The ex-dividend date is Tuesday, July 22nd. This represents a $2.10 dividend on an annualized basis and a yield of 1.60%. Dell Technologies's dividend payout ratio is currently 33.49%.

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).