Dell Technologies (NYSE:DELL) Shares Down 3% After Analyst Downgrade

Dell Technologies Inc. (NYSE:DELL)’s share price dropped 3% on Tuesday after Loop Capital lowered their price target on the stock from $185.00 to $130.00. Loop Capital currently has a buy rating on the stock. Dell Technologies traded as low as $92.41 and last traded at $92.72. Approximately 5,131,487 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 8,729,166 shares. The stock had previously closed at $95.56.

Several other equities research analysts have also recently commented on the company. JPMorgan Chase & Co. lowered their target price on Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Evercore ISI reissued an “outperform” rating and set a $150.00 price objective on shares of Dell Technologies in a report on Wednesday, November 20th. Barclays lifted their price target on shares of Dell Technologies from $115.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Friday, February 28th. Citigroup cut their price objective on shares of Dell Technologies from $156.00 to $145.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Finally, Wells Fargo & Company cut their target price 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. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $141.24.

Insiders Place Their Bets

In other Dell Technologies news, Director Radakovich Lynn Vojvodich sold 725 shares of Dell Technologies stock in a transaction on Monday, December 16th. 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 directly owns 23,680 shares of the company’s stock, valued at $2,841,600. The trade was a 2.97 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director V (Gp) L.L.C. Slta sold 103,745 shares of the stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $125.28, for a total transaction of $12,997,173.60. Following the completion of the sale, the director now owns 777,347 shares of the company’s stock, valued at approximately $97,386,032.16. This represents a 11.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 929,407 shares of company stock worth $113,411,626. Corporate insiders own 46.70% of the company’s stock.

Institutional Investors Weigh In On Dell Technologies

A number of institutional investors have recently added to or reduced their stakes in DELL. State Street Corp boosted its stake in shares of Dell Technologies by 92.4% in the 3rd quarter. State Street Corp now owns 12,767,011 shares of the technology company’s stock worth $1,513,401,000 after buying an additional 6,131,507 shares during the last quarter. Norges Bank purchased a new position in Dell Technologies in the fourth quarter worth $455,029,000. Vanguard Group Inc. grew its stake in Dell Technologies by 10.5% in the 4th quarter. Vanguard Group Inc. now owns 27,960,560 shares of the technology company’s stock valued at $3,222,175,000 after purchasing an additional 2,662,407 shares during the period. Geode Capital Management LLC increased its position in shares of Dell Technologies by 71.8% during the 3rd quarter. Geode Capital Management LLC now owns 6,317,829 shares of the technology company’s stock valued at $746,596,000 after purchasing an additional 2,641,456 shares during the last quarter. Finally, Michael & Susan Dell Foundation bought a new stake in shares of Dell Technologies during the 4th quarter worth $265,052,000. 76.37% of the stock is owned by institutional investors.

Dell Technologies Trading Down 1.4 %

The stock’s fifty day moving average is $111.61 and its two-hundred day moving average is $118.18. The company has a market capitalization of $65.99 billion, a PE ratio of 16.64, a P/E/G ratio of 1.10 and a beta of 0.90.

Dell Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Tuesday, April 22nd will be given a dividend of $0.525 per share. This is an increase from Dell Technologies’s previous quarterly dividend of $0.45. This represents a $2.10 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Tuesday, April 22nd. Dell Technologies’s dividend payout ratio is currently 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).