Dell Technologies (NYSE:DELL) Sets New 52-Week High Following Strong Earnings

Dell Technologies Inc. (NYSE:DELL)’s share price reached a new 52-week high on Wednesday after the company announced better than expected quarterly earnings. The stock traded as high as $57.60 and last traded at $57.29, with a volume of 284054 shares trading hands. The stock had previously closed at $54.67.

The technology company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.19. Dell Technologies had a net margin of 3.77% and a return on equity of 88.70%. The firm had revenue of $28.41 billion for the quarter, compared to analysts’ expectations of $27.02 billion. During the same quarter last year, the company earned $2.03 EPS. The firm’s revenue for the quarter was up 20.8% compared to the same quarter last year.

A number of research firms recently issued reports on DELL. The Goldman Sachs Group raised shares of Dell Technologies from a “buy” rating to a “conviction-buy” rating in a research note on Monday, September 13th. Evercore ISI initiated coverage on Dell Technologies in a report on Friday, August 20th. They issued a “buy” rating and a $110.00 price objective on the stock. Raymond James decreased their price objective on Dell Technologies from $121.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, November 4th. UBS Group raised their price objective on Dell Technologies from $113.00 to $116.00 and gave the company a “buy” rating in a report on Friday, August 27th. Finally, Cowen raised their price objective on Dell Technologies from $98.00 to $101.00 and gave the company an “outperform” rating in a report on Friday, August 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $99.20.

In related news, CMO Allison Dew sold 77,182 shares of the firm’s stock in a transaction dated Tuesday, October 19th. The stock was sold at an average price of $110.43, for a total transaction of $8,523,208.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Richard J. Rothberg sold 6,099 shares of the firm’s stock in a transaction dated Thursday, September 2nd. The stock was sold at an average price of $97.03, for a total value of $591,785.97. The disclosure for this sale can be found here. In the last quarter, insiders have sold 433,642 shares of company stock worth $43,205,901. Insiders own 47.00% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SouthState Corp acquired a new position in Dell Technologies in the 3rd quarter valued at about $28,000. JTC Employer Solutions Trusteee Ltd acquired a new position in shares of Dell Technologies during the second quarter worth about $29,000. TCI Wealth Advisors Inc. grew its position in shares of Dell Technologies by 341.8% during the third quarter. TCI Wealth Advisors Inc. now owns 296 shares of the technology company’s stock worth $31,000 after buying an additional 229 shares in the last quarter. Motco grew its position in shares of Dell Technologies by 285.9% during the third quarter. Motco now owns 301 shares of the technology company’s stock worth $31,000 after buying an additional 223 shares in the last quarter. Finally, Highlander Capital Management LLC grew its position in shares of Dell Technologies by 3,000.0% during the second quarter. Highlander Capital Management LLC now owns 310 shares of the technology company’s stock worth $31,000 after buying an additional 300 shares in the last quarter. 42.43% of the stock is owned by institutional investors.

The firm has a 50 day moving average of $88.28 and a two-hundred day moving average of $95.04. The stock has a market cap of $43.84 billion, a PE ratio of 11.86, a PEG ratio of 0.59 and a beta of 0.93. The company has a debt-to-equity ratio of 3.74, a current ratio of 0.79 and a quick ratio of 0.71.

Dell Technologies Company Profile (NYSE:DELL)

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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