International Business Machines (NYSE:IBM) Price Target Raised to $290.00

International Business Machines (NYSE:IBM - Free Report) had its price objective hoisted by Bank of America from $270.00 to $290.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the technology company's stock.

A number of other brokerages have also weighed in on IBM. Wedbush reaffirmed an "outperform" rating and issued a $300.00 price objective on shares of International Business Machines in a report on Wednesday, May 7th. Erste Group Bank raised International Business Machines from a "hold" rating to a "strong-buy" rating in a report on Monday, March 17th. BMO Capital Markets reaffirmed a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Wall Street Zen downgraded International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Finally, Citigroup restated an "outperform" rating on shares of International Business Machines in a research report on Saturday, May 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $250.31.

International Business Machines Stock Performance

Shares of NYSE IBM traded down $0.83 during midday trading on Monday, reaching $280.69. 3,413,514 shares of the company were exchanged, compared to its average volume of 4,232,579. The stock has a fifty day simple moving average of $250.36 and a 200 day simple moving average of $242.96. International Business Machines has a 1 year low of $167.23 and a 1 year high of $282.97. The stock has a market cap of $260.87 billion, a P/E ratio of 43.79, a PEG ratio of 5.81 and a beta of 0.66. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. International Business Machines's quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.68 EPS. On average, research analysts forecast that International Business Machines will post 10.78 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a dividend yield of 2.39%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio is 115.66%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Christopher J. Hasenberg Inc acquired a new position in shares of International Business Machines in the first quarter worth $27,000. SSA Swiss Advisors AG purchased a new stake in International Business Machines during the 1st quarter worth about $28,000. Vision Financial Markets LLC acquired a new position in International Business Machines in the 4th quarter valued at about $31,000. Dagco Inc. purchased a new position in International Business Machines in the 1st quarter valued at about $31,000. Finally, Silicon Valley Capital Partners grew its holdings in shares of International Business Machines by 322.6% during the first quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company's stock worth $32,000 after buying an additional 100 shares in the last quarter. 58.96% of the stock is owned by hedge funds and other institutional investors.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.