International Business Machines (NYSE:IBM - Get Free Report) had its price target increased by research analysts at Wedbush from $300.00 to $325.00 in a report issued on Friday,Benzinga reports. The firm presently has an "outperform" rating on the technology company's stock. Wedbush's price target would suggest a potential upside of 12.36% from the stock's previous close.
A number of other equities research analysts also recently weighed in on IBM. Wall Street Zen downgraded shares of International Business Machines from a "buy" rating to a "hold" rating in a research note on Wednesday, May 21st. Erste Group Bank upgraded shares of International Business Machines from a "hold" rating to a "strong-buy" rating in a research note on Monday, March 17th. Royal Bank Of Canada raised their price target on shares of International Business Machines from $276.00 to $285.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. UBS Group restated a "sell" rating and issued a $170.00 price target (up from $160.00) on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Citigroup restated an "outperform" rating on shares of International Business Machines in a research note on Saturday, May 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $253.75.
Get Our Latest Stock Analysis on International Business Machines
International Business Machines Price Performance
International Business Machines stock traded up $8.28 during trading hours on Friday, reaching $289.25. 3,779,323 shares of the stock were exchanged, compared to its average volume of 4,221,319. The company has a market cap of $268.83 billion, a P/E ratio of 49.78, a price-to-earnings-growth ratio of 5.90 and a beta of 0.66. The company has a current ratio of 1.01, a quick ratio of 0.97 and a debt-to-equity ratio of 2.09. International Business Machines has a twelve month low of $170.41 and a twelve month high of $291.65. The stock has a 50 day moving average of $258.71 and a two-hundred day moving average of $246.07.
International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.42 by $0.18. The firm had revenue of $14.54 billion for the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The business's revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the company posted $1.68 earnings per share. Equities analysts expect that International Business Machines will post 10.78 EPS for the current fiscal year.
Institutional Trading of International Business Machines
Several hedge funds have recently modified their holdings of IBM. Tallon Kerry Patrick acquired a new stake in International Business Machines in the 4th quarter valued at $902,000. Brighton Jones LLC boosted its holdings in International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company's stock worth $4,619,000 after acquiring an additional 2,323 shares during the last quarter. Advyzon Investment Management LLC purchased a new position in International Business Machines during the 4th quarter worth $328,000. Boston Financial Mangement LLC boosted its holdings in International Business Machines by 12.8% during the 4th quarter. Boston Financial Mangement LLC now owns 7,035 shares of the technology company's stock worth $1,547,000 after acquiring an additional 800 shares during the last quarter. Finally, Aspen Investment Management Inc boosted its holdings in International Business Machines by 1.9% during the 4th quarter. Aspen Investment Management Inc now owns 5,925 shares of the technology company's stock worth $1,302,000 after acquiring an additional 110 shares during the last quarter. Institutional investors own 58.96% of the company's stock.
About International Business Machines
(
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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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