International Business Machines (NYSE:IBM) Given New $290.00 Price Target at Stifel Nicolaus

Key Points

• Stifel Nicolaus cut its price target on IBM from $340 to $290 but kept a "buy" rating, implying roughly a 17.9% upside from the current share price.
• Analyst consensus is a "Moderate Buy" with a consensus target of $311.27, though recent notes show mixed views (one Strong Buy, 11 Buy, 8 Hold) and several divergent price-target changes.
• IBM posted a quarterly beat with $4.52 EPS versus $4.33 expected and revenue of $19.69 billion (up 12.2% year-over-year), signaling solid near-term fundamentals.

International Business Machines (NYSE:IBM - Get Free Report) had its target price lowered by stock analysts at Stifel Nicolaus from $340.00 to $290.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. Stifel Nicolaus' price objective would suggest a potential upside of 17.91% from the company's current price.

A number of other equities research analysts also recently weighed in on the company. BMO Capital Markets reduced their target price on International Business Machines from $350.00 to $290.00 and set a "market perform" rating on the stock in a report on Thursday, March 19th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of International Business Machines in a report on Thursday, January 22nd. UBS Group raised International Business Machines from a "sell" rating to a "neutral" rating and set a $236.00 target price on the stock in a report on Wednesday, February 25th. Oppenheimer set a $380.00 target price on International Business Machines and gave the company an "outperform" rating in a report on Thursday, January 29th. Finally, JPMorgan Chase & Co. dropped their price target on International Business Machines from $317.00 to $283.00 and set a "neutral" rating for the company in a research note on Wednesday, March 18th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $311.27.

International Business Machines Price Performance

NYSE:IBM traded up $0.88 during trading hours on Wednesday, reaching $245.95. 811,158 shares of the company were exchanged, compared to its average volume of 5,661,253. The company has a market capitalization of $230.71 billion, a P/E ratio of 22.06, a P/E/G ratio of 2.47 and a beta of 0.69. International Business Machines has a 1-year low of $215.16 and a 1-year high of $324.90. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.96 and a quick ratio of 0.92. The business has a 50 day moving average of $258.23 and a 200 day moving average of $283.92.

International Business Machines (NYSE:IBM - Get Free Report) last issued its earnings results on Wednesday, January 28th. The technology company reported $4.52 earnings per share for the quarter, beating analysts' consensus estimates of $4.33 by $0.19. The firm had revenue of $19.69 billion for the quarter, compared to the consensus estimate of $19.23 billion. International Business Machines had a return on equity of 38.15% and a net margin of 15.69%.The company's revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.92 EPS. Research analysts forecast that International Business Machines will post 10.78 EPS for the current year.

Insider Buying and Selling at International Business Machines

In related news, Director Michael Miebach bought 434 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was acquired at an average cost of $233.33 per share, with a total value of $101,265.22. Following the transaction, the director directly owned 434 shares in the company, valued at approximately $101,265.22. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David N. Farr bought 1,000 shares of the stock in a transaction that occurred on Friday, January 30th. The shares were bought at an average cost of $304.00 per share, with a total value of $304,000.00. Following the completion of the transaction, the director owned 9,258 shares in the company, valued at $2,814,432. The trade was a 12.11% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 1,484 shares of company stock valued at $417,157. 0.27% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IBM. CVA Family Office LLC grew its holdings in International Business Machines by 1.4% during the 4th quarter. CVA Family Office LLC now owns 2,389 shares of the technology company's stock worth $708,000 after acquiring an additional 33 shares during the period. Foster Group Inc. boosted its stake in International Business Machines by 1.3% during the 4th quarter. Foster Group Inc. now owns 2,507 shares of the technology company's stock valued at $742,000 after purchasing an additional 33 shares during the last quarter. New Covenant Trust Company N.A. boosted its stake in International Business Machines by 3.8% during the 4th quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company's stock valued at $264,000 after purchasing an additional 33 shares during the last quarter. McGowan Group Asset Management Inc. boosted its stake in International Business Machines by 1.2% during the 4th quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company's stock valued at $798,000 after purchasing an additional 33 shares during the last quarter. Finally, CFS Investment Advisory Services LLC boosted its stake in International Business Machines by 0.4% during the 3rd quarter. CFS Investment Advisory Services LLC now owns 9,359 shares of the technology company's stock valued at $2,878,000 after purchasing an additional 34 shares during the last quarter. 58.96% of the stock is owned by institutional investors.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM's principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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