JPMorgan Chase & Co. Forecasts Strong Price Appreciation for International Business Machines (NYSE:IBM) Stock

International Business Machines (NYSE:IBM) had its price target raised by investment analysts at JPMorgan Chase & Co. from $233.00 to $244.00 in a report released on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential downside of 4.49% from the company’s current price.

A number of other analysts also recently commented on IBM. Bank of America boosted their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday. UBS Group raised their price target on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. Stifel Nicolaus lifted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Monday, January 27th. Finally, Bernstein Bank upped their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and an average price target of $225.53.

International Business Machines Stock Down 1.1 %

Shares of NYSE IBM opened at $255.48 on Thursday. The stock has a market cap of $236.23 billion, a PE ratio of 39.86, a price-to-earnings-growth ratio of 4.25 and a beta of 0.74. International Business Machines has a 52-week low of $162.62 and a 52-week high of $261.80. The business has a 50-day moving average price of $225.96 and a 200 day moving average price of $213.86. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 40.37% and a net margin of 9.60%. Equities research analysts forecast that International Business Machines will post 10.54 earnings per share for the current year.

Insiders Place Their Bets

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares in the company, 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 SEC, which is available through this hyperlink. 0.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Plan Group Financial LLC raised its holdings in International Business Machines by 9.2% during the fourth quarter. Plan Group Financial LLC now owns 4,619 shares of the technology company’s stock valued at $1,015,000 after buying an additional 388 shares in the last quarter. Allied Investment Advisors LLC lifted its stake in shares of International Business Machines by 3.8% in the fourth quarter. Allied Investment Advisors LLC now owns 5,404 shares of the technology company’s stock valued at $1,188,000 after buying an additional 200 shares during the period. Bank of Jackson Hole Trust bought a new stake in shares of International Business Machines in the 4th quarter worth approximately $86,000. Callahan Advisors LLC increased its position in shares of International Business Machines by 81.0% during the fourth quarter. Callahan Advisors LLC now owns 5,558 shares of the technology company’s stock valued at $1,222,000 after purchasing an additional 2,488 shares during the period. Finally, Mcdonald Partners LLC increased its holdings in International Business Machines by 1.8% in the 4th quarter. Mcdonald Partners LLC now owns 18,726 shares of the technology company’s stock valued at $4,117,000 after buying an additional 329 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

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.