Brokerages Set International Business Machines Co. (NYSE:IBM) Target Price at $208.94

Shares of International Business Machines Co. (NYSE:IBM) have earned a consensus recommendation of “Hold” from the seventeen ratings firms that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $208.94.

Several brokerages recently issued reports on IBM. Stifel Nicolaus raised their price target on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Morgan Stanley increased their price target on International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a research note on Monday, December 16th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research report on Thursday, October 24th. Bank of America increased their price objective on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, BMO Capital Markets lifted their target price on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th.

International Business Machines Stock Down 0.9 %

Shares of NYSE:IBM opened at $222.78 on Wednesday. International Business Machines has a 12-month low of $157.88 and a 12-month high of $239.35. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The firm has a market cap of $205.99 billion, a PE ratio of 32.43, a price-to-earnings-growth ratio of 5.17 and a beta of 0.73. The company has a fifty day simple moving average of $221.08 and a 200 day simple moving average of $205.48.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. During the same period in the previous year, the business earned $2.20 EPS. The business’s quarterly revenue was up 1.5% on a year-over-year basis. On average, equities research analysts anticipate that International Business Machines will post 10.12 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were issued a dividend of $1.67 per share. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.00%. International Business Machines’s dividend payout ratio is 97.23%.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.07% of the company’s stock.

Institutional Trading of International Business Machines

Several large investors have recently added to or reduced their stakes in IBM. Meeder Asset Management Inc. boosted its holdings in International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after purchasing an additional 166 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of International Business Machines during the 2nd quarter worth about $7,160,000. Philip James Wealth Mangement LLC acquired a new position in shares of International Business Machines during the 3rd quarter valued at about $5,117,000. Lord Abbett & CO. LLC bought a new position in shares of International Business Machines in the 3rd quarter valued at approximately $24,761,000. Finally, Aljian Capital Management LLC acquired a new stake in International Business Machines in the 3rd quarter worth approximately $611,000. 58.96% of the stock is owned by institutional investors.

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.