International Business Machines (NYSE:IBM – Get Free Report) had its target price lifted by equities research analysts at BMO Capital Markets from $152.00 to $155.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ price target points to a potential upside of 7.83% from the company’s current price.
IBM has been the subject of several other reports. Wedbush reiterated a “neutral” rating and set a $140.00 price target on shares of International Business Machines in a research report on Thursday, July 20th. Royal Bank of Canada assumed coverage on International Business Machines in a research note on Wednesday, September 20th. They issued an “outperform” rating and a $188.00 target price for the company. Bank of America lifted their price target on shares of International Business Machines from $152.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, July 20th. Stifel Nicolaus increased their price objective on International Business Machines from $140.00 to $144.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. Finally, Morgan Stanley reduced their target price on International Business Machines from $135.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 17th. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $149.91.
Check Out Our Latest Stock Analysis on International Business Machines
International Business Machines Stock Performance
NYSE:IBM traded up $6.67 during mid-day trading on Thursday, hitting $143.75. The company’s stock had a trading volume of 3,641,154 shares, compared to its average volume of 4,479,500. The business’s fifty day moving average is $143.52 and its two-hundred day moving average is $136.41. The stock has a market cap of $130.96 billion, a price-to-earnings ratio of 66.61, a PEG ratio of 3.85 and a beta of 0.85. International Business Machines has a 1 year low of $120.55 and a 1 year high of $153.21. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.06 and a quick ratio of 1.01.
International Business Machines (NYSE:IBM – Get Free Report) last announced its earnings results on Wednesday, October 25th. The technology company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.08. International Business Machines had a net margin of 3.35% and a return on equity of 38.10%. The business had revenue of $14.75 billion for the quarter, compared to analyst estimates of $14.73 billion. During the same quarter last year, the business earned $1.81 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. Analysts anticipate that International Business Machines will post 9.38 EPS for the current fiscal year.
Hedge Funds Weigh In On International Business Machines
Hedge funds and other institutional investors have recently bought and sold shares of the company. Summit Financial Wealth Advisors LLC lifted its holdings in International Business Machines by 39.5% during the 2nd quarter. Summit Financial Wealth Advisors LLC now owns 18,367 shares of the technology company’s stock worth $2,458,000 after buying an additional 5,205 shares in the last quarter. Pitcairn Co. lifted its stake in International Business Machines by 33.8% in the first quarter. Pitcairn Co. now owns 5,888 shares of the technology company’s stock worth $772,000 after acquiring an additional 1,488 shares during the last quarter. Skba Capital Management LLC increased its position in shares of International Business Machines by 4.5% in the 1st quarter. Skba Capital Management LLC now owns 123,800 shares of the technology company’s stock valued at $16,229,000 after purchasing an additional 5,320 shares during the last quarter. Lincoln Capital Corp purchased a new stake in shares of International Business Machines during the 2nd quarter worth $236,000. Finally, American National Bank grew its stake in shares of International Business Machines by 4.8% during the first quarter. American National Bank now owns 3,054 shares of the technology company’s stock worth $400,000 after purchasing an additional 141 shares in the last quarter. 56.16% of the stock is currently owned by hedge funds and other institutional investors.
International Business Machines Company Profile
International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.
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