International Business Machines (NYSE:IBM) Cut to “Hold” at StockNews.com

International Business Machines (NYSE:IBM) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other analysts have also recently commented on IBM. JPMorgan Chase & Co. boosted their price target on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. Wedbush assumed coverage on shares of International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating on the stock. Bank of America boosted their target price on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Oppenheimer assumed coverage on shares of International Business Machines in a report on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price on the stock. Finally, Sanford C. Bernstein boosted their target price on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Up 1.0 %

Shares of IBM stock opened at $248.15 on Friday. The stock has a market cap of $230.10 billion, a P/E ratio of 38.71, a PEG ratio of 5.81 and a beta of 0.74. International Business Machines has a 52 week low of $162.62 and a 52 week high of $266.45. The company has a quick ratio of 1.00, a current ratio of 1.04 and a debt-to-equity ratio of 1.82. The company’s fifty day simple moving average is $244.23 and its two-hundred day simple moving average is $228.05.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Analysts predict that International Business Machines will post 10.78 EPS for the current fiscal year.

Insider Transactions at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On International Business Machines

Hedge funds have recently modified their holdings of the business. Compass Financial Services Inc purchased a new stake in International Business Machines during the fourth quarter valued at approximately $26,000. Vision Financial Markets LLC purchased a new stake in International Business Machines during the fourth quarter valued at approximately $31,000. Avondale Wealth Management lifted its position in International Business Machines by 56.0% during the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after acquiring an additional 56 shares during the last quarter. Valued Wealth Advisors LLC lifted its position in International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after acquiring an additional 90 shares during the last quarter. Finally, Rialto Wealth Management LLC purchased a new stake in International Business Machines during the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors 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.