Fintel reports that on September 7, 2023, Barclays downgraded their outlook for Dell Technologies Inc – Class C (NYSE:DELL) from Equal-Weight to Underweight.

Analyst Price Forecast Suggests 16.67% Downside

As of August 31, 2023, the average one-year price target for Dell Technologies Inc – Class C is 58.72. The forecasts range from a low of 45.45 to a high of $68.25. The average price target represents a decrease of 16.67% from its latest reported closing price of 70.47.

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The projected annual revenue for Dell Technologies Inc – Class C is 93,264MM, a decrease of 0.38%. The projected annual non-GAAP EPS is 6.46.

Dell Technologies Inc – Class C Declares $0.37 Dividend

On June 16, 2023 the company declared a regular quarterly dividend of $0.37 per share ($1.48 annualized). Shareholders of record as of July 25, 2023 received the payment on August 4, 2023. Previously, the company paid $0.37 per share.

At the current share price of $70.47 / share, the stock’s dividend yield is 2.10%.

Looking back five years and taking a sample every week, the average dividend yield has been 3.79%, the lowest has been 1.34%, and the highest has been 8.14%. The standard deviation of yields is 1.24 (n=220).

The current dividend yield is 1.37 standard deviations below the historical average.

Additionally, the company’s dividend payout ratio is 0.53. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company’s 3-Year dividend growth rate is 0.06%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 1115 funds or institutions reporting positions in Dell Technologies Inc – Class C. This is a decrease of 29 owner(s) or 2.53% in the last quarter. Average portfolio weight of all funds dedicated to DELL is 0.19%, an increase of 12.79%. Total shares owned by institutions increased in the last three months by 2.16% to 218,664K shares. The put/call ratio of DELL is 0.78, indicating a bullish outlook.

What are Other Shareholders Doing?

Dodge & Cox holds 16,564K shares representing 2.28% ownership of the company. In it’s prior filing, the firm reported owning 18,473K shares, representing a decrease of 11.52%. The firm increased its portfolio allocation in DELL by 18.16% over the last quarter.

DODGX – Dodge & Cox Stock Fund holds 11,805K shares representing 1.62% ownership of the company. In it’s prior filing, the firm reported owning 12,982K shares, representing a decrease of 9.97%. The firm increased its portfolio allocation in DELL by 17.33% over the last quarter.

Boston Partners holds 9,783K shares representing 1.35% ownership of the company. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 7,592K shares representing 1.04% ownership of the company. In it’s prior filing, the firm reported owning 7,121K shares, representing an increase of 6.20%. The firm increased its portfolio allocation in DELL by 32.37% over the last quarter.

Arrowstreet Capital, Limited Partnership holds 6,894K shares representing 0.95% ownership of the company. In it’s prior filing, the firm reported owning 4,535K shares, representing an increase of 34.22%. The firm increased its portfolio allocation in DELL by 92.15% over the last quarter.

Dell Technologies Background Information
(This description is provided by the company.)

Dell Technologies helps organizations and individuals build their digital future and transform how they work, live and play. The company provides customers with the industry’s broadest and most innovative technology and services portfolio for the data era.

This article originally appeared on Fintel

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