International Business Machines (NYSE:IBM) Price Target Raised to $290.00 at JPMorgan Chase & Co.

International Business Machines (NYSE:IBM - Free Report) had its target price upped by JPMorgan Chase & Co. from $244.00 to $290.00 in a research report report published on Thursday,Benzinga reports. They currently have a neutral rating on the technology company's stock.

IBM has been the topic of a number of other reports. Bank of America dropped their price objective on shares of International Business Machines from $320.00 to $310.00 and set a "buy" rating on the stock in a research note on Thursday. Stifel Nicolaus upped their price objective on International Business Machines from $290.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Royal Bank Of Canada increased their price objective on International Business Machines from $285.00 to $315.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Morgan Stanley dropped 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. Finally, Melius Research raised International Business Machines to a "strong-buy" rating in a report on Monday, July 7th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, International Business Machines has an average rating of "Moderate Buy" and an average price target of $268.75.

International Business Machines Stock Down 7.6%

IBM stock traded down $21.45 during midday trading on Thursday, reaching $260.56. 22,630,739 shares of the company were exchanged, compared to its average volume of 3,452,532. The stock's 50-day simple moving average is $277.83 and its 200 day simple moving average is $255.57. International Business Machines has a 1-year low of $181.81 and a 1-year high of $296.16. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The company has a market cap of $242.17 billion, a price-to-earnings ratio of 42.30, a price-to-earnings-growth ratio of 6.01 and a beta of 0.69.

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

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a $1.68 dividend. This is a positive change from International Business Machines's previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a dividend yield of 2.58%. International Business Machines's payout ratio is currently 115.66%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. MinichMacGregor Wealth Management LLC acquired a new position in International Business Machines in the first quarter valued at $396,000. Treasurer of the State of North Carolina grew its holdings in shares of 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 purchasing an additional 4,131 shares during the period. Left Brain Wealth Management LLC raised its holdings in International Business Machines by 1,547.8% in the first quarter. Left Brain Wealth Management LLC now owns 17,664 shares of the technology company's stock valued at $4,392,000 after buying an additional 16,592 shares during the period. Alpha Cubed Investments LLC increased its position 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. lifted its holdings in shares of International Business Machines by 5.6% during the 1st quarter. Wedbush Securities Inc. now owns 62,067 shares of the technology company's stock valued at $15,434,000 after acquiring an additional 3,276 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

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.