International Business Machines (NYSE:IBM) Trading Up 1.5% - Here's Why

Key Points

• IBM's stock price increased by 1.5%, trading at $242.89, with a notable drop in trading volume at 878,813 shares compared to the average of 4.7 million shares.
• JPMorgan raised IBM's price target from $244 to $290, while various analysts have given the stock ratings ranging from "Strong Buy" to "Sell," culminating in a current consensus rating of "Hold."
• For the most recent quarter, IBM reported an EPS of $2.80, exceeding estimates, and had a revenue of $16.98 billion, reflecting a 7.7% increase year-over-year.

International Business Machines Corporation (NYSE:IBM - Get Free Report) traded up 1.5% during mid-day trading on Friday . The company traded as high as $243.67 and last traded at $242.89. 878,813 shares were traded during trading, a decline of 81% from the average session volume of 4,712,415 shares. The stock had previously closed at $239.40.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Erste Group Bank lowered International Business Machines from a "buy" rating to a "hold" rating in a report on Thursday, August 14th. Royal Bank Of Canada lifted their price objective on International Business Machines from $285.00 to $315.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. The Goldman Sachs Group lifted their price objective on International Business Machines from $270.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Bank of America lowered their price objective on International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a report on Thursday, July 24th. Finally, JPMorgan Chase & Co. lifted their price objective on International Business Machines from $244.00 to $290.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, International Business Machines presently has an average rating of "Hold" and an average price target of $268.75.

International Business Machines Price Performance

The company has a 50 day moving average price of $269.61 and a 200 day moving average price of $257.98. The firm has a market cap of $224.63 billion, a PE ratio of 39.24, a price-to-earnings-growth ratio of 3.73 and a beta of 0.69. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.00.

International Business Machines (NYSE:IBM - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.65 by $0.15. The business had revenue of $16.98 billion for the quarter, compared to analyst estimates of $16.58 billion. International Business Machines had a return on equity of 37.62% and a net margin of 9.11%.The company's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.43 EPS. International Business Machines has set its FY 2025 guidance at EPS. On average, sell-side analysts expect that International Business Machines Corporation will post 10.78 EPS for the current year.

Institutional Investors Weigh In On International Business Machines

Institutional investors have recently modified their holdings of the company. MinichMacGregor Wealth Management LLC acquired a new position in shares of International Business Machines during the 1st quarter worth approximately $396,000. Brooklyn Investment Group raised its position in shares of International Business Machines by 32.7% during the 1st quarter. Brooklyn Investment Group now owns 6,622 shares of the technology company's stock worth $1,647,000 after purchasing an additional 1,630 shares during the last quarter. Edgar Lomax Co. VA raised its position in shares of International Business Machines by 5.7% during the 1st quarter. Edgar Lomax Co. VA now owns 235,967 shares of the technology company's stock worth $58,676,000 after purchasing an additional 12,690 shares during the last quarter. Left Brain Wealth Management LLC raised its position in shares of 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 purchasing an additional 16,592 shares during the last quarter. Finally, Alpha Cubed Investments LLC raised its position in shares of International Business Machines by 47.0% during the 1st quarter. Alpha Cubed Investments LLC now owns 7,507 shares of the technology company's stock worth $1,867,000 after purchasing an additional 2,399 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company's stock.

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.