JPMorgan Chase & Co. Cuts Dell Technologies (NYSE:DELL) Price Target to $108.00

Dell Technologies (NYSE:DELL - Free Report) had its target price trimmed by JPMorgan Chase & Co. from $150.00 to $108.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company's stock.

A number of other equities research analysts also recently issued reports on DELL. UBS Group cut their price objective on shares of Dell Technologies from $158.00 to $150.00 and set a "buy" rating for the company in a research report on Friday, February 28th. Loop Capital dropped their target price on shares of Dell Technologies from $185.00 to $130.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Bank of America decreased their price objective on Dell Technologies from $155.00 to $150.00 and set a "buy" rating on the stock in a report on Tuesday, February 18th. Citigroup dropped their target price on Dell Technologies from $145.00 to $105.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, TD Cowen dropped their price objective on shares of Dell Technologies from $128.00 to $120.00 and set a "hold" rating for the company in a research note on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Dell Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $136.41.

Dell Technologies Stock Down 4.0 %

DELL traded down $3.38 during mid-day trading on Thursday, reaching $81.42. 2,651,492 shares of the company traded hands, compared to its average volume of 10,376,822. The stock has a market capitalization of $56.82 billion, a P/E ratio of 14.39, a P/E/G ratio of 1.10 and a beta of 0.94. Dell Technologies has a 52-week low of $66.25 and a 52-week high of $179.70. The company's fifty day moving average price is $95.82 and its 200-day moving average price is $112.22.

Dell Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Tuesday, April 22nd will be issued a $0.525 dividend. The ex-dividend date of this dividend is Tuesday, April 22nd. This represents a $2.10 annualized dividend and a dividend yield of 2.58%. This is a positive change from Dell Technologies's previous quarterly dividend of $0.45. Dell Technologies's payout ratio is currently 33.76%.

Insider Activity

In related news, CAO Brunilda Rios sold 926 shares of Dell Technologies stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $93.29, for a total transaction of $86,386.54. Following the completion of the sale, the chief accounting officer now owns 37,948 shares of the company's stock, valued at $3,540,168.92. The trade was a 2.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Radakovich Lynn Vojvodich sold 725 shares of the stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $120.00, for a total transaction of $87,000.00. Following the completion of the sale, the director now owns 23,680 shares in the company, valued at $2,841,600. The trade was a 2.97 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 46.70% of the company's stock.

Institutional Trading of Dell Technologies

A number of hedge funds have recently modified their holdings of DELL. Allen Capital Group LLC increased its position in shares of Dell Technologies by 3.3% in the fourth quarter. Allen Capital Group LLC now owns 2,936 shares of the technology company's stock valued at $338,000 after buying an additional 95 shares in the last quarter. Brooklyn Investment Group raised its holdings in shares of Dell Technologies by 18.7% during the 4th quarter. Brooklyn Investment Group now owns 610 shares of the technology company's stock worth $70,000 after acquiring an additional 96 shares during the period. Sunflower Bank N.A. grew its stake in shares of Dell Technologies by 3.1% in the 4th quarter. Sunflower Bank N.A. now owns 3,256 shares of the technology company's stock valued at $375,000 after buying an additional 98 shares during the period. Bogart Wealth LLC raised its position in Dell Technologies by 7.7% in the fourth quarter. Bogart Wealth LLC now owns 1,398 shares of the technology company's stock valued at $161,000 after purchasing an additional 100 shares during the period. Finally, Tortoise Investment Management LLC increased its position in shares of Dell Technologies by 23.0% during the 4th quarter. Tortoise Investment Management LLC now owns 535 shares of the technology company's stock worth $62,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 76.37% of the company's stock.

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).