International Business Machines (NYSE:IBM) Price Target Raised to $320.00

International Business Machines (NYSE:IBM - Get Free Report) had its price objective lifted by equities research analysts at Bank of America from $290.00 to $320.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. Bank of America's price target suggests a potential upside of 11.85% from the stock's previous close.

Other analysts have also recently issued research reports about the stock. Jefferies Financial Group reiterated a "hold" rating on shares of International Business Machines in a report on Wednesday, April 23rd. BMO Capital Markets restated a "market perform" rating on shares of International Business Machines in a report on Wednesday, April 23rd. Morgan Stanley reduced their target price on International Business Machines from $237.00 to $233.00 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. Wall Street Zen lowered International Business Machines from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, Royal Bank Of Canada increased their price objective on International Business Machines from $276.00 to $285.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, International Business Machines currently has a consensus rating of "Hold" and a consensus price target of $252.19.

International Business Machines Stock Up 1.1%

Shares of IBM stock traded up $3.04 on Wednesday, reaching $286.09. 471,111 shares of the company were exchanged, compared to its average volume of 4,585,596. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.01 and a quick ratio of 0.97. The company has a 50-day moving average of $254.78 and a 200-day moving average of $244.55. The company has a market cap of $265.89 billion, a price-to-earnings ratio of 49.24, a PEG ratio of 5.92 and a beta of 0.66. International Business Machines has a one year low of $170.41 and a one year high of $285.10.

International Business Machines (NYSE:IBM - Get Free Report) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion for the quarter, compared to analysts' expectations of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The company's quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company earned $1.68 earnings per share. Analysts anticipate that International Business Machines will post 10.78 earnings per share for the current year.

Institutional Trading of International Business Machines

A number of large investors have recently made changes to their positions in the company. Christopher J. Hasenberg Inc bought a new stake in shares of International Business Machines during the 1st quarter worth $27,000. SSA Swiss Advisors AG bought a new position in International Business Machines during the 1st quarter worth approximately $28,000. Vision Financial Markets LLC acquired a new position in International Business Machines in the fourth quarter valued at $31,000. Dagco Inc. bought a new stake in International Business Machines in the first quarter worth approximately $31,000. Finally, Silicon Valley Capital Partners grew its position in shares of International Business Machines by 322.6% during the 1st quarter. Silicon Valley Capital Partners now owns 131 shares of the technology company's stock worth $32,000 after buying an additional 100 shares during the period. 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.

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