Bank of America Issues Positive Forecast for International Business Machines (NYSE:IBM) Stock Price

International Business Machines (NYSE:IBM - Get Free Report) had its price objective increased by investment analysts at Bank of America from $270.00 to $290.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. Bank of America's target price suggests a potential upside of 6.99% from the stock's previous close.

IBM has been the topic of several other reports. Wall Street Zen downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. UBS Group reiterated a "sell" rating and issued a $170.00 price objective (up from $160.00) on shares of International Business Machines in a report on Wednesday, April 23rd. BMO Capital Markets reissued a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Oppenheimer initiated coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an "outperform" rating and a $320.00 price target on the stock. Finally, Morgan Stanley dropped their price target on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating for the company in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, nine have assigned 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 a consensus rating of "Hold" and a consensus price target of $250.31.

International Business Machines Stock Performance

Shares of NYSE:IBM traded up $2.19 during trading on Monday, hitting $271.06. 848,829 shares of the stock traded hands, compared to its average volume of 4,205,588. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The company has a fifty day moving average price of $248.17 and a two-hundred day moving average price of $242.11. International Business Machines has a 52-week low of $166.81 and a 52-week high of $271.69. The company has a market cap of $251.92 billion, a price-to-earnings ratio of 42.29, a P/E/G ratio of 5.81 and a beta of 0.66.

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

Institutional Investors Weigh In On International Business Machines

Institutional investors and hedge funds have recently made changes to their positions in the stock. Christopher J. Hasenberg Inc purchased a new stake in shares of International Business Machines during the 1st quarter worth $27,000. SSA Swiss Advisors AG purchased a new stake in International Business Machines in the 1st quarter valued at approximately $28,000. Vision Financial Markets LLC purchased a new position in shares of International Business Machines in the 4th quarter valued at about $31,000. Dagco Inc. purchased a new stake in shares of International Business Machines in the 1st quarter worth 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.

International Business Machines Company Profile

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.

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