International Business Machines (NYSE:IBM) Now Covered by Citigroup

Key Points

• Citigroup initiated coverage on IBM with a Buy rating and a $285 price target, implying about a 20.1% upside from current levels.
• IBM beat Q4 expectations with $4.52 EPS (vs. $4.33 est.) and $19.69 billion revenue (up 12.2% year‑over‑year), alongside strong profitability metrics (ROE 38.15%, net margin 15.69%).
• The stock trades around $237 and carries a consensus rating of Moderate Buy with an average price target of $309.63, suggesting further upside according to analysts.

Equities research analysts at Citigroup started coverage on shares of International Business Machines (NYSE:IBM - Get Free Report) in a report issued on Friday. The brokerage set a "buy" rating and a $285.00 price target on the technology company's stock. Citigroup's target price would suggest a potential upside of 20.10% from the company's current price.

IBM has been the topic of a number of other reports. Erste Group Bank lowered shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, February 18th. Weiss Ratings reissued a "buy (b)" rating on shares of International Business Machines in a research note on Thursday, January 22nd. Oppenheimer set a $380.00 target price on shares of International Business Machines and gave the stock an "outperform" rating in a research note on Thursday, January 29th. BMO Capital Markets reduced their target price on shares of 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. Finally, Argus set a $360.00 price target on shares of International Business Machines in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $309.63.

International Business Machines Stock Down 1.8%

NYSE:IBM opened at $237.31 on Friday. International Business Machines has a 52 week low of $220.72 and a 52 week high of $324.90. The stock's fifty day moving average is $255.75 and its two-hundred day moving average is $283.31. The stock has a market capitalization of $222.61 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 2.41 and a beta of 0.69. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 1.67.

International Business Machines (NYSE:IBM - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $19.69 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $3.92 earnings per share. Research analysts anticipate that International Business Machines will post 10.78 EPS for the current year.

Insider Activity at International Business Machines

In other news, Director Michael Miebach purchased 434 shares of the firm's stock in a transaction that occurred on Wednesday, February 25th. The stock was bought at an average price of $233.33 per share, for a total transaction of $101,265.22. Following the completion of the purchase, the director directly owned 434 shares of the company's stock, valued at $101,265.22. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David N. Farr purchased 1,000 shares of the stock in a transaction on Friday, January 30th. The shares were purchased at an average price of $304.00 per share, with a total value of $304,000.00. Following the acquisition, the director directly owned 9,258 shares in the company, valued at $2,814,432. This represents a 12.11% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 1,484 shares of company stock worth $417,157. 0.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On International Business Machines

Several large investors have recently bought and sold shares of IBM. J. Derek Lewis & Associates Inc. acquired a new position in International Business Machines in the fourth quarter valued at approximately $465,000. Purpose Unlimited Inc. acquired a new stake in International Business Machines during the fourth quarter worth approximately $817,000. Cornerstone Planning LLC purchased a new stake in shares of International Business Machines during the 4th quarter worth approximately $4,366,000. Forty three Eighteen Advisors LLC purchased a new stake in shares of International Business Machines during the 4th quarter worth approximately $2,063,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of International Business Machines by 20.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 564,188 shares of the technology company's stock valued at $167,118,000 after buying an additional 95,065 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

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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