Weiss Ratings Reaffirms Hold (C+) Rating for Dell Technologies (NYSE:DELL)

Key Points

• Weiss Ratings has reaffirmed a "hold (C+)" rating for Dell Technologies (NYSE: DELL) amid various analyst reports, reflecting a generally mixed sentiment on the stock.
• Multiple analysts have recently raised their price targets for Dell Technologies, with TD Cowen increasing it from $130.00 to $150.00, while JPMorgan raised it from $145.00 to $165.00.
• After trading up 2.9% on Friday, Dell Technologies' stock closed at $158.67, and has a market capitalization of $106.68 billion.

Dell Technologies (NYSE:DELL - Get Free Report)'s stock had its "hold (c+)" rating restated by investment analysts at Weiss Ratings in a report issued on Friday,Weiss Ratings reports.

DELL has been the topic of a number of other reports. TD Cowen upped their price target on Dell Technologies from $130.00 to $150.00 and gave the stock a "hold" rating in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their price target on Dell Technologies from $145.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 8th. Daiwa Capital Markets upped their price objective on Dell Technologies from $125.00 to $140.00 and gave the stock an "outperform" rating in a research report on Thursday, September 11th. Bank of America upped their price objective on Dell Technologies from $167.00 to $170.00 and gave the stock a "buy" rating in a research report on Wednesday, October 1st. Finally, Wall Street Zen raised Dell Technologies from a "hold" rating to a "buy" rating in a research report on Saturday, September 13th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $161.80.

Dell Technologies Stock Up 2.9%

NYSE:DELL traded up $4.44 during trading hours on Friday, reaching $158.67. 5,077,464 shares of the stock were exchanged, compared to its average volume of 8,663,245. The business has a 50-day moving average of $137.17 and a two-hundred day moving average of $121.35. Dell Technologies has a twelve month low of $66.25 and a twelve month high of $166.10. The company has a market capitalization of $106.68 billion, a price-to-earnings ratio of 23.33, a PEG ratio of 1.05 and a beta of 1.05.

Dell Technologies (NYSE:DELL - Get Free Report) last released its quarterly earnings results on Thursday, October 5th. The technology company reported $1.68 EPS for the quarter. Dell Technologies had a negative return on equity of 236.21% and a net margin of 4.73%.The company had revenue of $26.43 billion for the quarter. Dell Technologies has set its FY24 guidance at $6.10-6.50 EPS. On average, research analysts forecast that Dell Technologies will post 6.93 EPS for the current fiscal year.

Insider Transactions at Dell Technologies

In other Dell Technologies news, Director V (Gp) L.L.C. Slta sold 565,000 shares of the stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $132.32, for a total value of $74,760,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 824,999 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $135.98, for a total transaction of $112,183,364.02. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,617,755 shares of company stock valued at $653,694,973. 42.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Meeder Asset Management Inc. increased its stake in shares of Dell Technologies by 33.7% during the 3rd quarter. Meeder Asset Management Inc. now owns 325 shares of the technology company's stock worth $46,000 after purchasing an additional 82 shares in the last quarter. Citizens Financial Group Inc. RI increased its stake in shares of Dell Technologies by 2.9% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 8,687 shares of the technology company's stock worth $1,232,000 after purchasing an additional 248 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of Dell Technologies by 7.7% during the 3rd quarter. New York State Teachers Retirement System now owns 254,672 shares of the technology company's stock worth $36,105,000 after purchasing an additional 18,202 shares in the last quarter. Forum Financial Management LP increased its stake in shares of Dell Technologies by 21.4% during the 3rd quarter. Forum Financial Management LP now owns 2,557 shares of the technology company's stock worth $362,000 after purchasing an additional 450 shares in the last quarter. Finally, Purus Wealth Management LLC purchased a new position in shares of Dell Technologies during the 3rd quarter worth approximately $227,000. 76.37% of the stock is owned by hedge funds and other institutional investors.

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).

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