Wells Fargo & Company Increases Dell Technologies (NYSE:DELL) Price Target to $160.00

Dell Technologies (NYSE:DELL) had its target price hoisted by research analysts at Wells Fargo & Company from $140.00 to $160.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 17.41% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Sanford C. Bernstein cut their price target on Dell Technologies from $155.00 to $140.00 and set an “outperform” rating on the stock in a report on Friday, August 30th. Fox Advisors upgraded shares of Dell Technologies from an “equal weight” rating to an “overweight” rating in a research note on Friday, August 30th. Morgan Stanley increased their price objective on shares of Dell Technologies from $136.00 to $154.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Mizuho began coverage on Dell Technologies in a report on Tuesday, September 17th. They set an “outperform” rating and a $135.00 price target for the company. Finally, Bank of America increased their target price on shares of Dell Technologies from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.88.

Dell Technologies Stock Up 3.5 %

Shares of Dell Technologies stock traded up $4.64 during mid-day trading on Monday, hitting $136.28. The stock had a trading volume of 3,945,207 shares, compared to its average volume of 10,054,069. The firm has a market cap of $95.72 billion, a P/E ratio of 25.04, a price-to-earnings-growth ratio of 1.39 and a beta of 0.89. The firm has a 50-day moving average of $123.03 and a two-hundred day moving average of $126.46. Dell Technologies has a 12-month low of $67.51 and a 12-month high of $179.70.

Dell Technologies (NYSE:DELL) last posted its earnings results on Thursday, August 29th. The technology company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.40. Dell Technologies had a negative return on equity of 178.09% and a net margin of 4.32%. The company had revenue of $25.03 billion during the quarter, compared to analysts’ expectations of $24.14 billion. During the same quarter last year, the firm earned $1.44 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. Sell-side analysts expect that Dell Technologies will post 6.92 earnings per share for the current year.

Insider Activity

In related news, Director Radakovich Lynn Vojvodich sold 725 shares of Dell Technologies stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $129.50, for a total transaction of $93,887.50. Following the completion of the sale, the director now owns 23,680 shares in the company, valued at approximately $3,066,560. This trade represents a 2.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider William F. Scannell sold 42,595 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $117.29, for a total transaction of $4,995,967.55. Following the completion of the transaction, the insider now owns 73,263 shares in the company, valued at approximately $8,593,017.27. This trade represents a 36.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 17,953,387 shares of company stock worth $2,113,353,236. Company insiders own 46.70% of the company’s stock.

Hedge Funds Weigh In On Dell Technologies

A number of institutional investors have recently modified their holdings of the company. Accordant Advisory Group Inc purchased a new stake in Dell Technologies in the 2nd quarter worth approximately $28,000. Clean Yield Group purchased a new position in Dell Technologies during the third quarter worth about $25,000. Nemes Rush Group LLC acquired a new stake in Dell Technologies in the 2nd quarter worth about $33,000. Crewe Advisors LLC purchased a new stake in Dell Technologies in the 2nd quarter valued at about $34,000. Finally, New Covenant Trust Company N.A. purchased a new position in shares of Dell Technologies during the 1st quarter worth about $30,000. Institutional investors and hedge funds own 38.10% of the company’s stock.

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).