Citigroup Begins Coverage on Dell Technologies (NYSE:DELL)

Citigroup began coverage on shares of Dell Technologies (NYSE:DELL) in a research note issued to investors on Friday, The Fly reports. The firm issued a buy rating on the technology company’s stock.

A number of other equities research analysts have also recently commented on the company. Raymond James decreased their price objective on Dell Technologies from $118.00 to $115.00 and set an outperform rating for the company in a research note on Friday, August 27th. Barclays boosted their target price on Dell Technologies from $80.00 to $92.00 and gave the company an equal weight rating in a research note on Friday, May 28th. Evercore ISI assumed coverage on Dell Technologies in a research note on Friday, August 20th. They issued a buy rating and a $110.00 target price for the company. UBS Group boosted their target price on Dell Technologies from $113.00 to $116.00 and gave the company a buy rating in a research note on Friday, August 27th. Finally, Societe Generale decreased their target price on Dell Technologies from $112.00 to $104.00 and set a hold rating for the company in a research note on Tuesday, August 31st. Four investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Buy and a consensus target price of $106.53.

Shares of DELL opened at $100.87 on Friday. The stock has a fifty day moving average price of $97.50 and a two-hundred day moving average price of $96.86. The company has a debt-to-equity ratio of 3.74, a quick ratio of 0.71 and a current ratio of 0.79. Dell Technologies has a 52-week low of $58.88 and a 52-week high of $104.62. The company has a market cap of $77.18 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 0.99 and a beta of 0.99.

Dell Technologies (NYSE:DELL) last announced its quarterly earnings data on Wednesday, August 25th. The technology company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.21. Dell Technologies had a return on equity of 88.70% and a net margin of 3.77%. The business had revenue of $26.12 billion during the quarter, compared to analysts’ expectations of $25.55 billion. During the same period in the previous year, the firm earned $1.92 earnings per share. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, research analysts predict that Dell Technologies will post 8.51 EPS for the current fiscal year.

In related news, major shareholder Lieberman Dell Separate Susan sold 131,616 shares of the stock in a transaction that occurred on Friday, June 25th. The stock was sold at an average price of $99.56, for a total transaction of $13,103,688.96. Following the sale, the insider now owns 7,090 shares of the company’s stock, valued at $705,880.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael S. Dell sold 1,316,156 shares of the firm’s stock in a transaction on Friday, June 25th. The shares were sold at an average price of $99.56, for a total value of $131,036,491.36. Following the completion of the sale, the chief executive officer now directly owns 6,022,159 shares in the company, valued at approximately $599,566,150.04. The disclosure for this sale can be found here. Insiders sold 3,406,727 shares of company stock worth $337,831,370 in the last 90 days. Corporate insiders own 47.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. JTC Employer Solutions Trusteee Ltd bought a new position in shares of Dell Technologies in the 2nd quarter valued at $29,000. Van ECK Associates Corp acquired a new stake in shares of Dell Technologies in the 1st quarter valued at about $27,000. Highlander Capital Management LLC grew its stake in shares of Dell Technologies by 3,000.0% in the 2nd quarter. Highlander Capital Management LLC now owns 310 shares of the technology company’s stock valued at $31,000 after buying an additional 300 shares during the period. Abundance Wealth Counselors acquired a new stake in shares of Dell Technologies in the 1st quarter valued at about $44,000. Finally, Bessemer Group Inc. grew its stake in shares of Dell Technologies by 172.3% in the 1st quarter. Bessemer Group Inc. now owns 580 shares of the technology company’s stock valued at $51,000 after buying an additional 367 shares during the period. Institutional investors own 30.04% of the company’s stock.

About Dell Technologies

Dell Technologies, Inc is a holding company, which engages in the provision of information technology hardware, software, and service solutions through its subsidiaries. It operates through the following segments: Infrastructure Solutions Group (ISG), Client Solutions Group (CSG), and VMware. The ISG segment includes servers, networking, and storage, as well as services and third-party software and peripherals that are closely tied to the sale of ISG hardware.

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