International Business Machines (NYSE:IBM) Price Target Raised to $246.00 at Stifel Nicolaus

International Business Machines (NYSE:IBM) had its target price upped by Stifel Nicolaus from $205.00 to $246.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other research firms also recently issued reports on IBM. Jefferies Financial Group boosted their price target on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. StockNews.com raised shares of International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. The Goldman Sachs Group raised their price target on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Royal Bank of Canada boosted their price objective on shares of International Business Machines from $211.00 to $250.00 and gave the stock an “outperform” rating in a research note on Thursday, October 10th. Finally, DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $200.82.

International Business Machines Trading Up 0.3 %

NYSE IBM opened at $233.64 on Wednesday. The company has a market cap of $214.62 billion, a P/E ratio of 26.46, a P/E/G ratio of 5.21 and a beta of 0.70. International Business Machines has a 12 month low of $135.87 and a 12 month high of $237.37. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The company has a 50-day moving average of $210.57 and a 200-day moving average of $188.54.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the prior year, the business posted $2.18 earnings per share. International Business Machines’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, equities analysts predict that International Business Machines will post 10.1 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.86%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC bought a new position in shares of International Business Machines during the second quarter worth about $7,160,000. Hodges Capital Management Inc. lifted its holdings in International Business Machines by 60.8% during the 1st quarter. Hodges Capital Management Inc. now owns 20,535 shares of the technology company’s stock worth $3,921,000 after buying an additional 7,768 shares during the last quarter. Burns J W & Co. Inc. NY grew its position in shares of International Business Machines by 10.8% in the 1st quarter. Burns J W & Co. Inc. NY now owns 2,571 shares of the technology company’s stock worth $491,000 after acquiring an additional 250 shares in the last quarter. Smith Thornton Advisors LLC bought a new stake in shares of International Business Machines in the 2nd quarter valued at approximately $702,000. Finally, Retirement Planning Group LLC acquired a new stake in shares of International Business Machines during the 3rd quarter valued at approximately $618,000. 58.96% of the stock is currently owned by institutional investors.

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.