International Business Machines (NYSE:IBM) PT Raised to $250.00

International Business Machines (NYSE:IBM) had its price target hoisted by stock analysts at Bank of America from $209.00 to $250.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Bank of America‘s target price points to a potential upside of 6.61% from the company’s previous close.

A number of other research analysts have also recently issued reports on the stock. BMO Capital Markets increased their target price on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, July 25th. Royal Bank of Canada raised their price objective on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. UBS Group raised their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research note on Wednesday, September 4th. Finally, Stifel Nicolaus lifted their target price on shares of International Business Machines from $190.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average price target of $196.12.

International Business Machines Stock Performance

NYSE:IBM traded up $5.89 during mid-day trading on Wednesday, reaching $234.51. The stock had a trading volume of 2,895,571 shares, compared to its average volume of 4,206,406. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The firm has a market capitalization of $215.42 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 4.90 and a beta of 0.70. International Business Machines has a twelve month low of $135.87 and a twelve month high of $234.90. The business has a 50 day simple moving average of $205.08 and a 200 day simple moving average of $186.69.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter last year, the firm earned $2.18 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. On average, analysts expect that International Business Machines will post 10.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On International Business Machines

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after buying an additional 5,546,855 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in International Business Machines by 151.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after buying an additional 2,118,165 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in International Business Machines by 306.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after buying an additional 1,056,759 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in International Business Machines by 12,282.2% in the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock worth $817,000 after buying an additional 468,567 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after buying an additional 444,698 shares in the last quarter. Institutional investors and hedge funds 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.