International Business Machines Corporation (NYSE:IBM) Stock Has Consensus Price Target of $253.52

Key Points

• Analysts maintain a “Moderate Buy” consensus on IBM, with 18 buy, 12 hold and 2 sell ratings. The average 12-month price target is $253.52.
• IBM reported quarterly earnings of $2.93 per share, matching estimates, while revenue of $17.16 billion fell short of expectations but increased 1.1% year over year.
• The company declared a quarterly dividend of $1.69 per share, equivalent to $6.76 annually and a 3.1% yield; institutional investors own approximately 58.96% of the stock.

Shares of International Business Machines Corporation (NYSE:IBM - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the thirty-two research firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and eighteen have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $253.52.

A number of equities analysts have issued reports on the stock. Citic Securities raised their target price on shares of International Business Machines from $294.00 to $297.00 and gave the stock a "buy" rating in a report on Wednesday, July 29th. Susquehanna increased their price target on International Business Machines from $225.00 to $235.00 and gave the stock a "neutral" rating in a research report on Monday, August 31st. JPMorgan Chase & Co. cut their price target on International Business Machines from $291.00 to $250.00 and set an "overweight" rating on the stock in a report on Friday, July 17th. Wolfe Research lowered International Business Machines to a "peer perform" rating in a research report on Tuesday, June 23rd. Finally, KeyCorp downgraded International Business Machines to a "sector weight" rating in a research note on Tuesday, June 23rd.

International Business Machines Stock Performance

International Business Machines stock opened at $221.39 on Tuesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.79 and a quick ratio of 0.74. International Business Machines has a 12 month low of $199.19 and a 12 month high of $332.46. The company has a fifty day moving average price of $232.38 and a two-hundred day moving average price of $244.65. The company has a market cap of $208.58 billion, a PE ratio of 19.64, a P/E/G ratio of 2.12 and a beta of 0.73.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, July 22nd. The technology company reported $2.93 earnings per share for the quarter, hitting analysts' consensus estimates of $2.93. International Business Machines had a net margin of 15.52% and a return on equity of 35.65%. The company had revenue of $17.16 billion for the quarter, compared to analysts' expectations of $17.46 billion. During the same period in the prior year, the company earned $2.80 earnings per share. The firm's revenue was up 1.1% compared to the same quarter last year. Research analysts expect that International Business Machines will post 12.33 earnings per share for the current year.

International Business Machines Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Monday, August 10th were issued a dividend of $1.69 per share. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Monday, August 10th. International Business Machines's payout ratio is 59.98%.

Insider Transactions at International Business Machines

In related news, SVP Robert Thomas sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $230.32, for a total value of $5,758,000.00. Following the completion of the transaction, the senior vice president directly owned 47,800 shares of the company's stock, valued at $11,009,296. This represents a 34.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.27% of the stock is owned by company insiders.

Institutional Investors Weigh In On International Business Machines

A number of institutional investors have recently added to or reduced their stakes in the company. Friday Financial boosted its stake in shares of International Business Machines by 1.9% during the 2nd quarter. Friday Financial now owns 1,903 shares of the technology company's stock worth $583,000 after acquiring an additional 35 shares in the last quarter. Trinity Wealth Management LLC increased its stake in shares of International Business Machines by 2.3% in the 2nd quarter. Trinity Wealth Management LLC now owns 1,695 shares of the technology company's stock valued at $477,000 after purchasing an additional 38 shares in the last quarter. Pettinga Financial Advisors LLC raised its holdings in International Business Machines by 3.6% in the 2nd quarter. Pettinga Financial Advisors LLC now owns 1,090 shares of the technology company's stock worth $307,000 after purchasing an additional 38 shares during the period. HHM Wealth Advisors LLC raised its holdings in International Business Machines by 4.6% in the 2nd quarter. HHM Wealth Advisors LLC now owns 928 shares of the technology company's stock worth $261,000 after purchasing an additional 41 shares during the period. Finally, Insight Advisors LLC PA boosted its position in International Business Machines by 0.8% during the fourth quarter. Insight Advisors LLC PA now owns 5,255 shares of the technology company's stock worth $1,557,000 after purchasing an additional 43 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

International Business Machines Company Profile

International Business Machines Corporation NYSE: IBM, commonly known as IBM, is a global technology company that provides hybrid cloud, artificial intelligence, software, consulting and infrastructure solutions. Its offerings help businesses and government organizations manage data, modernize applications, automate processes and improve cybersecurity.

IBM's portfolio includes the Red Hat hybrid cloud platform, the watsonx suite of artificial intelligence and data tools, consulting services, and enterprise software for areas such as automation, application management, security and asset management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.