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International Business Machines (NYSE:IBM – Get Rating) had its price objective reduced by investment analysts at BMO Capital Markets from $155.00 to $148.00 in a report issued on Wednesday, The Fly reports. The firm currently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ target price suggests a potential upside of 16.94% from the stock’s current price.
Several other research analysts also recently commented on the company. Stifel Nicolaus decreased their price objective on International Business Machines from $151.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, December 15th. The Goldman Sachs Group began coverage on International Business Machines in a report on Sunday, January 9th. They issued a “neutral” rating and a $140.00 price objective on the stock. UBS Group reduced their price target on International Business Machines from $124.00 to $118.00 in a report on Tuesday, January 25th. Zacks Investment Research downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $140.00 price target on the stock. in a report on Tuesday, April 5th. Finally, StockNews.com began coverage on International Business Machines in a report on Thursday, March 31st. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $145.27.
Shares of IBM stock opened at $126.56 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 2.36. The business has a 50-day moving average price of $127.87 and a two-hundred day moving average price of $129.07. International Business Machines has a 12-month low of $114.56 and a 12-month high of $152.84. The firm has a market cap of $113.82 billion, a P/E ratio of 19.93, a price-to-earnings-growth ratio of 1.16 and a beta of 1.10.
International Business Machines (NYSE:IBM – Get Rating) last released its quarterly earnings data on Monday, January 24th. The technology company reported $3.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.39 by ($0.04). The company had revenue of $16.70 billion during the quarter, compared to analysts’ expectations of $15.96 billion. International Business Machines had a return on equity of 42.49% and a net margin of 8.11%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.07 EPS. As a group, research analysts expect that International Business Machines will post 10.09 EPS for the current fiscal year.
Several hedge funds have recently bought and sold shares of the business. Minot Wealth Management LLC boosted its position in shares of International Business Machines by 3.6% in the 1st quarter. Minot Wealth Management LLC now owns 7,403 shares of the technology company’s stock worth $963,000 after purchasing an additional 260 shares in the last quarter. TPG Financial Advisors LLC bought a new stake in shares of International Business Machines in the 1st quarter worth approximately $351,000. Reitz Capital Advisors LLC bought a new stake in shares of International Business Machines in the 1st quarter worth approximately $500,000. Northstar Advisory Group LLC boosted its position in shares of International Business Machines by 43.2% in the 1st quarter. Northstar Advisory Group LLC now owns 3,028 shares of the technology company’s stock worth $394,000 after purchasing an additional 913 shares in the last quarter. Finally, Signature Wealth Management Group boosted its position in shares of International Business Machines by 12.4% in the 1st quarter. Signature Wealth Management Group now owns 24,804 shares of the technology company’s stock worth $3,225,000 after purchasing an additional 2,732 shares in the last quarter. Hedge funds and other institutional investors own 54.91% of the company’s stock.
About International Business Machines (Get Rating)
International Business Machines Corporation provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions, such as Red Hat, an enterprise open-source solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.
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