TD Cowen Cuts Dell Technologies (NYSE:DELL) Price Target to $120.00

Dell Technologies (NYSE:DELL) had its price objective lowered by equities researchers at TD Cowen from $128.00 to $120.00 in a report issued on Friday,Briefing.com Automated Import reports. The firm currently has a “hold” rating on the technology company’s stock. TD Cowen’s price objective suggests a potential upside of 11.49% from the stock’s previous close.

Several other research analysts have also weighed in on the stock. Melius Research upped their price objective on shares of Dell Technologies from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. decreased their target price on shares of Dell Technologies from $160.00 to $150.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. OTR Global raised shares of Dell Technologies from a “negative” rating to a “positive” rating in a research note on Wednesday, February 12th. Evercore ISI reissued an “outperform” rating and set a $150.00 target price on shares of Dell Technologies in a research report on Wednesday, November 20th. Finally, Mizuho dropped their price target on Dell Technologies from $155.00 to $150.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 27th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $144.53.

Dell Technologies Stock Down 6.9 %

Shares of NYSE DELL opened at $107.63 on Friday. The business has a fifty day simple moving average of $112.83 and a 200-day simple moving average of $118.12. The company has a market cap of $75.39 billion, a price-to-earnings ratio of 19.02, a P/E/G ratio of 1.10 and a beta of 0.90. Dell Technologies has a 12 month low of $86.93 and a 12 month high of $179.70.

Dell Technologies (NYSE:DELL) last released its earnings results on Tuesday, November 26th. The technology company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.32. The company had revenue of $24.37 billion during the quarter, compared to analyst estimates of $24.67 billion. Dell Technologies had a negative return on equity of 191.91% and a net margin of 4.36%. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.62 earnings per share. As a group, sell-side analysts expect that Dell Technologies will post 6.93 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Iv (Gp) L.L.C. Slta sold 499,045 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $119.73, for a total transaction of $59,750,657.85. Following the completion of the sale, the director now owns 810,657 shares of the company’s stock, valued at $97,059,962.61. This trade represents a 38.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director V (Gp) L.L.C. Slta sold 103,745 shares of Dell Technologies stock in a transaction on 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 directly owns 777,347 shares of the company’s stock, valued at approximately $97,386,032.16. This trade represents a 11.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 937,407 shares of company stock valued at $114,418,186 over the last quarter. Insiders own 46.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position 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 acquiring an additional 2,662,407 shares in the last quarter. State Street Corp boosted its position in shares of Dell Technologies by 92.4% during the third quarter. State Street Corp now owns 12,767,011 shares of the technology company’s stock valued at $1,513,401,000 after buying an additional 6,131,507 shares during the last quarter. Capital World Investors grew its holdings in Dell Technologies by 0.6% during the fourth quarter. Capital World Investors now owns 12,460,949 shares of the technology company’s stock worth $1,436,000,000 after buying an additional 72,271 shares in the last quarter. Geode Capital Management LLC raised its position in Dell Technologies by 8.7% in the 4th quarter. Geode Capital Management LLC now owns 6,870,042 shares of the technology company’s stock valued at $789,680,000 after buying an additional 552,213 shares during the last quarter. Finally, Norges Bank bought a new position in Dell Technologies during the 4th quarter valued at $455,029,000. 76.37% of the stock is owned by 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).