Dell Technologies Inc. (NYSE: DELL) has received a consensus “Moderate Buy” recommendation from analysts, with a target price set at $162.80. This assessment comes from a review of the stock by twenty-six ratings firms, as reported by Marketbeat.com. Among these analysts, seven issued hold ratings, eighteen recommended buying the stock, and one assigned a strong buy rating.
Several recent reports reflect a positive outlook for Dell’s shares. On October 8, 2023, Mizuho increased its target price for Dell from $160.00 to $170.00, categorizing the stock as “outperform.” Following a similar trend, Barclays raised its target from $133.00 to $151.00, while maintaining an “equal weight” rating. Zacks Research upgraded Dell from a “hold” to a “strong buy” on October 13, 2023. Additionally, Daiwa Capital Markets revised its price objective from $125.00 to $140.00 with an “outperform” rating.
Institutional Investment Activity
Recent trading activity has seen a notable increase in institutional investments in Dell Technologies. Brighton Jones LLC boosted its holdings by 42.7% during the fourth quarter, owning 3,011 shares worth approximately $347,000. Cerity Partners LLC also increased its stake by 23.8% in the first quarter, bringing its total to 47,636 shares, valued at $4.34 million.
Other significant transactions include the Louisiana State Employees Retirement System, which raised its holdings by 1.8%, and Bleakley Financial Group LLC, which increased its stake by 10.2%. Notably, institutional investors and hedge funds now collectively hold 76.37% of Dell Technologies’ stock.
Current Stock Performance and Earnings Report
As of the latest trading session, Dell Technologies stock opened at $133.58. The company boasts a market capitalization of $89.82 billion, with a price-to-earnings (P/E) ratio of 19.64 and a beta of 1.02. Over the past year, the stock has fluctuated between a low of $66.25 and a high of $168.08. Its 50-day moving average price stands at $143.87, while the 200-day moving average is at $128.95.
Dell Technologies recently released its earnings report for the quarter ending October 5, 2023, posting earnings per share (EPS) of $1.68. The company reported a net revenue of $26.43 billion for the quarter. Dell has also set its fiscal year 2024 guidance for EPS between $6.10 and $6.50, with analysts projecting an average EPS of $6.93.
Additionally, Dell Technologies declared a quarterly dividend of $0.525 per share, which was distributed on October 31, 2023. This dividend represents an annualized amount of $2.10 and a yield of 1.6%, with a payout ratio currently at 30.88%.
Dell Technologies continues to be a significant player in the technology sector, providing integrated solutions and services globally, and its stock performance is closely monitored by investors and analysts alike.
