Citigroup Has Lowered Expectations for Dell Technologies (NYSE:DELL) Stock Price

Dell Technologies (NYSE:DELL) had its target price cut by Citigroup from $156.00 to $145.00 in a research report issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Citigroup’s price objective indicates a potential upside of 21.91% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Dell Technologies from $160.00 to $150.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. OTR Global raised Dell Technologies from a “negative” rating to a “positive” rating in a report on Wednesday, February 12th. Melius Research lifted their price target on Dell Technologies from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft cut their price target on Dell Technologies from $144.00 to $142.00 and set a “buy” rating for the company in a research note on Monday, December 2nd. Finally, Evercore ISI restated an “outperform” rating and issued a $150.00 price target on shares of Dell Technologies in a research note on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $145.00.

Dell Technologies Stock Performance

DELL traded down $0.95 on Friday, hitting $118.94. The company had a trading volume of 2,496,498 shares, compared to its average volume of 8,193,664. The stock has a market capitalization of $83.31 billion, a price-to-earnings ratio of 21.01, a P/E/G ratio of 1.11 and a beta of 0.90. The stock has a fifty day moving average price of $113.12 and a 200-day moving average price of $117.42. Dell Technologies has a 12-month low of $85.40 and a 12-month high of $179.70.

Dell Technologies (NYSE:DELL) last issued its quarterly earnings data on Tuesday, November 26th. The technology company reported $2.15 EPS for the quarter, beating the consensus estimate of $1.83 by $0.32. Dell Technologies had a negative return on equity of 191.91% and a net margin of 4.36%. The firm had revenue of $24.37 billion during the quarter, compared to analyst estimates of $24.67 billion. During the same quarter in the prior year, the business posted $1.62 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. Analysts forecast that Dell Technologies will post 6.93 EPS for the current fiscal year.

Insider Activity

In related news, Director V (Gp) L.L.C. Slta sold 103,745 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $125.28, for a total value of $12,997,173.60. Following the transaction, the director now directly owns 777,347 shares in the company, valued at approximately $97,386,032.16. This represents a 11.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Yvonne Mcgill sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $125.82, for a total value of $1,006,560.00. Following the completion of the transaction, the chief financial officer now owns 228,419 shares in the company, valued at $28,739,678.58. This represents a 3.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 937,407 shares of company stock worth $114,418,186 over the last ninety days. Corporate insiders own 46.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Dell Technologies by 10.5% during the fourth quarter. Vanguard Group Inc. now owns 27,960,560 shares of the technology company’s stock worth $3,222,175,000 after purchasing an additional 2,662,407 shares in the last quarter. State Street Corp raised its stake in shares of Dell Technologies by 92.4% in 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 acquiring an additional 6,131,507 shares in the last quarter. Capital World Investors increased its holdings in Dell Technologies by 0.6% in the fourth quarter. Capital World Investors now owns 12,460,949 shares of the technology company’s stock valued at $1,436,000,000 after buying an additional 72,271 shares during the last quarter. Geode Capital Management LLC increased its holdings in Dell Technologies by 8.7% in the fourth 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 purchased a new position in Dell Technologies in the fourth quarter valued at $455,029,000. 76.37% of the stock is currently owned by institutional investors and hedge funds.

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).