International Business Machines (NYSE:IBM) Price Target Raised to $200.00

International Business Machines (NYSE:IBM - Free Report) had its target price raised by UBS Group from $195.00 to $200.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a sell rating on the technology company's stock.

IBM has been the topic of several other research reports. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Stifel Nicolaus boosted their price objective on International Business Machines from $290.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Wall Street Zen lowered International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Wedbush raised their price objective on International Business Machines from $300.00 to $325.00 and gave the company an "outperform" rating in a report on Friday, June 20th. Finally, Royal Bank Of Canada increased their target price on shares of International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $268.75.

International Business Machines Price Performance

Shares of NYSE:IBM traded down $21.45 during trading on Thursday, reaching $260.56. 22,630,739 shares of the company's stock traded hands, compared to its average volume of 3,452,532. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. International Business Machines has a fifty-two week low of $181.81 and a fifty-two week high of $296.16. The company has a 50-day simple moving average of $277.83 and a 200-day simple moving average of $255.57. The firm has a market cap of $242.17 billion, a PE ratio of 42.30, a P/E/G ratio of 6.01 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, beating analysts' consensus estimates of $2.65 by $0.15. International Business Machines had a return on equity of 38.09% and a net margin of 9.11%. The business had revenue of $16.98 billion during the quarter, compared to analysts' expectations of $16.58 billion. During the same period in the previous year, the business earned $2.43 earnings per share. The business's revenue was up 7.7% compared to the same quarter last year. As a group, analysts predict that International Business Machines will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were issued a $1.68 dividend. This represents a $6.72 annualized dividend and a yield of 2.58%. This is an increase from International Business Machines's previous quarterly dividend of $1.67. International Business Machines's dividend payout ratio (DPR) is 115.66%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. MinichMacGregor Wealth Management LLC purchased a new stake in International Business Machines during the first quarter worth about $396,000. Treasurer of the State of North Carolina increased its stake in International Business Machines by 0.8% during the 4th quarter. Treasurer of the State of North Carolina now owns 495,574 shares of the technology company's stock worth $108,942,000 after buying an additional 4,131 shares during the period. Left Brain Wealth Management LLC lifted its holdings in International Business Machines by 1,547.8% during the 1st quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock worth $4,392,000 after buying an additional 16,592 shares in the last quarter. Alpha Cubed Investments LLC grew its stake in shares of International Business Machines by 47.0% in the first quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock worth $1,867,000 after acquiring an additional 2,399 shares in the last quarter. Finally, Wedbush Securities Inc. increased its position in shares of International Business Machines by 5.6% during the first quarter. Wedbush Securities Inc. now owns 62,067 shares of the technology company's stock worth $15,434,000 after acquiring an additional 3,276 shares during the period. 58.96% of the stock is currently 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.