IBM (NYSE:IBM) had its price target hoisted by JPMorgan Chase & Co. from $135.00 to $148.00 in a research note published on Monday, The Fly reports. They currently have a neutral rating on the technology company’s stock.
Several other research firms have also commented on IBM. UBS Group reduced their target price on shares of IBM from $140.00 to $120.00 and set a neutral rating on the stock in a report on Tuesday, April 21st. Credit Suisse Group lifted their price objective on IBM from $150.00 to $155.00 and gave the stock an outperform rating in a report on Tuesday, July 21st. Wedbush restated a neutral rating on shares of IBM in a report on Thursday, July 16th. Zacks Investment Research raised shares of IBM from a sell rating to a hold rating and set a $140.00 price target for the company in a research report on Monday, June 8th. Finally, ValuEngine cut shares of IBM from a hold rating to a sell rating in a report on Thursday, April 30th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $139.13.
NYSE IBM traded down $0.37 during trading hours on Monday, reaching $122.78. 19,948 shares of the stock traded hands, compared to its average volume of 3,703,995. The stock has a 50 day simple moving average of $123.40 and a two-hundred day simple moving average of $124.55. IBM has a 1 year low of $90.56 and a 1 year high of $158.75. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.04 and a quick ratio of 0.99. The company has a market cap of $110.29 billion, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 3.41 and a beta of 1.20.
IBM (NYSE:IBM) last released its earnings results on Monday, July 20th. The technology company reported $2.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.14 by $0.04. The company had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $17.72 billion. IBM had a return on equity of 51.06% and a net margin of 10.44%. IBM’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.17 EPS. On average, sell-side analysts forecast that IBM will post 11.08 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be given a $1.63 dividend. The ex-dividend date is Friday, August 7th. This represents a $6.52 annualized dividend and a dividend yield of 5.31%. IBM’s dividend payout ratio is presently 50.90%.
In other news, SVP Diane J. Gherson sold 1,176 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $126.73, for a total value of $149,034.48. Following the transaction, the senior vice president now directly owns 31,767 shares in the company, valued at approximately $4,025,831.91. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Diane J. Gherson sold 1,215 shares of IBM stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $127.00, for a total transaction of $154,305.00. Following the sale, the senior vice president now owns 30,597 shares in the company, valued at $3,885,819. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Keebeck Wealth Management LLC acquired a new stake in IBM during the 2nd quarter worth about $67,000. Red Door Wealth Management LLC bought a new stake in shares of IBM during the first quarter valued at approximately $118,000. Lountzis Asset Management LLC bought a new position in IBM in the second quarter valued at about $181,000. Hilton Capital Management LLC acquired a new stake in shares of IBM during the 2nd quarter worth approximately $218,000. Finally, Patriot Investment Management Inc. bought a new stake in shares of IBM during the first quarter worth approximately $204,000. 56.77% of the stock is owned by institutional investors and hedge funds.
International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers a portfolio of enterprise artificial intelligence platforms, such as analytics and data management platforms, cloud data services, talent management, and industry solutions primarily under the Watson Platform, Watson Health, and Watson Internet of Things names.
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