Jefferies Financial Group Raises International Business Machines (NYSE:IBM) Price Target to $270.00

International Business Machines (NYSE:IBM) had its price objective raised by equities research analysts at Jefferies Financial Group from $245.00 to $270.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Jefferies Financial Group’s price objective suggests a potential upside of 5.68% from the stock’s current price.

A number of other equities research analysts also recently commented on the stock. UBS Group lifted their target price on shares of International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Bernstein Bank boosted their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Sanford C. Bernstein lifted their price target on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. Morgan Stanley boosted their price target on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $225.53.

International Business Machines Trading Down 1.1 %

Shares of IBM stock opened at $255.48 on Thursday. The firm has a market cap of $236.23 billion, a P/E ratio of 39.86, a price-to-earnings-growth ratio of 4.25 and a beta of 0.74. International Business Machines has a 12-month low of $162.62 and a 12-month high of $261.80. The business has a 50-day moving average price of $225.96 and a two-hundred 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 issued its quarterly earnings data 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 40.37%. Equities analysts anticipate that International Business Machines will post 10.54 EPS for the current fiscal year.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines 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 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 document filed with the SEC, which can be accessed through this hyperlink. 0.07% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in IBM. State Street Corp grew its holdings in shares of International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after acquiring an additional 1,200,803 shares during the period. FMR LLC grew its position in shares of International Business Machines by 6.0% in the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock valued at $1,148,717,000 after purchasing an additional 294,276 shares during the last quarter. Swiss National Bank lifted its stake in International Business Machines by 0.5% in the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after buying an additional 12,400 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in International Business Machines by 20,324.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after purchasing an additional 2,702,340 shares in the last quarter. Finally, Holocene Advisors LP acquired a new stake in International Business Machines during the third quarter worth approximately $573,306,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

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.