BMO Capital Markets Forecasts Strong Price Appreciation for International Business Machines (NYSE:IBM) Stock

International Business Machines (NYSE:IBM - Get Free Report) had its price objective raised by equities researchers at BMO Capital Markets from $260.00 to $300.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "market perform" rating on the technology company's stock. BMO Capital Markets' price objective suggests a potential upside of 5.44% from the company's previous close.

IBM has been the topic of a number of other research reports. KGI Securities set a $242.00 price target on International Business Machines and gave the company a "hold" rating in a report on Thursday, April 24th. Royal Bank Of Canada boosted their target price on International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a report on Thursday. Wedbush boosted their target price on International Business Machines from $300.00 to $325.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Wall Street Zen cut International Business Machines from a "buy" rating to a "hold" rating in a report on Wednesday, May 21st. Finally, The Goldman Sachs Group upped their price target on International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $266.19.

International Business Machines Trading Down 0.5%

NYSE:IBM traded down $1.35 during trading hours on Friday, reaching $284.52. 3,047,765 shares of the stock were exchanged, compared to its average volume of 4,227,372. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09. The business has a 50-day moving average of $276.39 and a two-hundred day moving average of $254.50. International Business Machines has a twelve month low of $181.81 and a twelve month high of $296.16. The company has a market capitalization of $264.43 billion, a price-to-earnings ratio of 27.89, a PEG ratio of 6.00 and a beta of 0.69.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. The business had revenue of $14.54 billion for the quarter, compared to analyst estimates of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The company's quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.68 EPS. On average, equities analysts predict that International Business Machines will post 10.78 EPS for the current year.

Institutional Investors Weigh In On International Business Machines

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in International Business Machines by 1.4% during the first quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company's stock worth $23,159,637,000 after buying an additional 1,298,515 shares during the period. Geode Capital Management LLC boosted its position in International Business Machines by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company's stock worth $4,589,145,000 after purchasing an additional 427,499 shares in the last quarter. Capital World Investors lifted its position in shares of International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company's stock valued at $2,634,577,000 after acquiring an additional 9,650,534 shares in the last quarter. Northern Trust Corp increased its stake in International Business Machines by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company's stock valued at $2,384,275,000 after purchasing an additional 1,704,209 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in International Business Machines by 6.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company's stock valued at $2,147,608,000 after purchasing an additional 524,633 shares during 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, 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.