International Business Machines (NYSE:IBM) Price Target Raised to $260.00

International Business Machines (NYSE:IBM) had its price target increased by Bank of America from $250.00 to $260.00 in a research report sent to investors on Thursday morning,Benzinga reports. Bank of America currently has a buy rating on the technology company’s stock.

A number of other brokerages have also issued reports on IBM. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Thursday, October 24th. UBS Group boosted their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research report on Wednesday, October 2nd. Jefferies Financial Group increased their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Finally, Morgan Stanley lifted their price objective on shares of International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $220.73.

International Business Machines Trading Down 0.6 %

NYSE:IBM opened at $224.69 on Thursday. The stock has a market capitalization of $207.75 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 4.78 and a beta of 0.74. International Business Machines has a 1 year low of $162.62 and a 1 year high of $239.35. The stock has a fifty day moving average price of $224.33 and a two-hundred day moving average price of $212.32. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. International Business Machines’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.20 EPS. As a group, sell-side analysts anticipate that International Business Machines will post 10.16 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a $1.67 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.97%. International Business Machines’s payout ratio is currently 97.23%.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s 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 directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.07% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On International Business Machines

Hedge funds have recently modified their holdings of the business. Hazlett Burt & Watson Inc. raised its stake in shares of International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC bought a new position in International Business Machines in the 3rd quarter worth approximately $29,000. Avondale Wealth Management lifted its position in International Business Machines by 56.0% during the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares during the period. Valued Wealth Advisors LLC lifted its stake in shares of International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after purchasing an additional 90 shares during the period. Finally, Modus Advisors LLC acquired a new position in International Business Machines during the fourth quarter valued at approximately $40,000. 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.