Dell (NASDAQ:DELL) Stock Price Down 9.2%

Dell Inc. (NASDAQ:DELL) dropped 9.2% during trading on Friday . The stock traded as low as $51.45 and last traded at $52.41, approximately 10,525,961 shares changed hands during trading. An increase of 309% from the average daily volume of 2,571,540 shares. The stock had previously closed at $57.69.

DELL has been the subject of several recent research reports. Raymond James restated an “outperform” rating and set a $69.00 price objective (down previously from $74.00) on shares of Dell in a report on Friday, May 31st. Deutsche Bank initiated coverage on Dell in a report on Wednesday, June 19th. They set a “buy” rating and a $62.00 price objective for the company. UBS Group boosted their price objective on Dell from $61.00 to $67.00 and gave the company a “neutral” rating in a report on Friday, May 31st. Morgan Stanley decreased their price objective on Dell from $74.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, May 31st. Finally, Zacks Investment Research downgraded Dell from a “hold” rating to a “sell” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $66.27.

The stock has a fifty day simple moving average of $53.75. The company has a market cap of $37.66 billion, a price-to-earnings ratio of 8.49 and a beta of 0.47. The company has a debt-to-equity ratio of 2.81, a quick ratio of 0.82 and a current ratio of 0.90.

Dell (NASDAQ:DELL) last announced its quarterly earnings results on Thursday, May 30th. The technology company reported $1.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.30. Dell had a positive return on equity of 31.57% and a negative net margin of 2.84%. The business had revenue of $21.91 billion during the quarter, compared to the consensus estimate of $22.24 billion. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Sell-side analysts expect that Dell Inc. will post 6.23 earnings per share for the current fiscal year.

In other Dell news, Vice Chairman Jeffrey W. Clarke sold 303,753 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $52.28, for a total value of $15,880,206.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Allison Dew sold 22,590 shares of the business’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $58.50, for a total value of $1,321,515.00. The disclosure for this sale can be found here. Insiders have sold 1,441,477 shares of company stock valued at $75,859,006 in the last quarter. 46.00% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Hanson McClain Inc. boosted its position in Dell by 823.4% in the first quarter. Hanson McClain Inc. now owns 434 shares of the technology company’s stock worth $25,000 after purchasing an additional 387 shares during the last quarter. Baystate Wealth Management LLC purchased a new position in Dell in the first quarter worth $29,000. Trustcore Financial Services LLC purchased a new position in Dell in the first quarter worth $26,000. Israel Discount Bank of New York purchased a new position in Dell in the first quarter worth $27,000. Finally, Kistler Tiffany Companies LLC purchased a new position in Dell in the first quarter worth $28,000. 22.92% of the stock is currently owned by institutional investors and hedge funds.

Dell Company Profile (NASDAQ:DELL)

Dell Inc (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels. Dell is a holding company that conducts its business worldwide through its subsidiaries. The Company operates in four segments: Large Enterprise, Public, Small and Medium Business, and Consumer.

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