Dell Technologies Inc. (NYSE: DELL) has received a consensus recommendation of “Moderate Buy” from twenty-six ratings firms, according to Marketbeat.com. This rating reflects a balance of opinions, with seven analysts recommending a hold, eighteen suggesting a buy, and one analyst advocating for a strong buy. The average price target set for the stock over the next year stands at $162.80.
Several analysts have recently adjusted their price targets for Dell Technologies. Mizuho raised its target from $160.00 to $170.00, assigning an “outperform” rating in a report dated October 8, 2023. On the same date, Barclays increased its target to $151.00 while maintaining an “equal weight” rating. Earlier, Wall Street Zen upgraded the stock from a “hold” to a “buy” rating on September 13, 2023.
In another notable shift, Zacks Research elevated its rating from “hold” to “strong buy” on October 13, 2023. Similarly, Daiwa Capital Markets increased its price objective from $125.00 to $140.00 with an “outperform” rating on September 11, 2023. These changes reflect growing confidence in Dell’s performance in the tech sector.
Institutional Investor Activity
Recent trading activities show increased interest from institutional investors and hedge funds in Dell Technologies. Brighton Jones LLC reported a 42.7% increase in its holdings during the fourth quarter, now owning 3,011 shares valued at approximately $347,000 after acquiring an additional 901 shares.
Cerity Partners LLC also expanded its position by 23.8% in the first quarter, bringing its total to 47,636 shares, worth around $4.34 million. The Louisiana State Employees Retirement System increased its stake by 1.8%, now holding 16,800 shares valued at $1.53 million after adding 300 shares.
Bleakley Financial Group LLC enhanced its holdings by 10.2% during the first quarter, totaling 10,299 shares worth roughly $939,000. Sigma Planning Corp increased its stake by 11.4%, now owning 10,945 shares valued at approximately $998,000. Institutional investors and hedge funds collectively own approximately 76.37% of Dell Technologies’ stock.
Recent Performance and Financials
On the trading front, Dell Technologies shares opened at $133.58 on Friday, with a market capitalization of $89.82 billion. The company reported a price-to-earnings ratio of 19.64 and a PEG ratio of 0.91. Over the past year, the stock has experienced a low of $66.25 and a high of $168.08. Its 50-day moving average stands at $143.87, while the 200-day moving average is $128.95.
Dell Technologies released its most recent earnings results on October 5, 2023, reporting earnings per share (EPS) of $1.68 for the quarter. The company recorded a net margin of 4.73% and reported revenues of $26.43 billion. For the fiscal year 2024, Dell has provided guidance for EPS in the range of $6.10 to $6.50. Analysts project an EPS of $6.93 for the current year.
In addition to financial performance, Dell Technologies recently announced a quarterly dividend of $0.525 per share, which was paid on October 31, 2023. Investors of record as of October 21, 2023, received this dividend, resulting in an annualized dividend of $2.10 and a yield of 1.6%. The company’s dividend payout ratio currently stands at 30.88%.
Dell Technologies Inc. continues to establish itself as a major player in the technology landscape, offering a range of integrated solutions, products, and services worldwide. The company operates through two main segments: the Infrastructure Solutions Group (ISG) and the Client Solutions Group (CSG). As analysts refine their outlooks and institutional investment grows, Dell’s position in the market appears increasingly robust.
