International Business Machines (NYSE:IBM) Price Target Raised to $215.00

International Business Machines (NYSE:IBM) had its price objective upped by Sanford C. Bernstein from $210.00 to $215.00 in a report released on Friday morning,Benzinga reports. Sanford C. Bernstein currently has a market perform rating on the technology company’s stock.

IBM has been the subject of several other research reports. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research report on Wednesday, October 2nd. BMO Capital Markets lifted their price target on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Bernstein Bank upped their price objective on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Finally, StockNews.com cut International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $214.88.

International Business Machines Price Performance

International Business Machines stock opened at $222.65 on Friday. The stock has a market capitalization of $205.87 billion, a P/E ratio of 32.41, a P/E/G ratio of 5.18 and a beta of 0.74. International Business Machines has a 12-month low of $157.88 and a 12-month high of $239.35. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. The firm’s 50-day moving average is $220.54 and its two-hundred day moving average is $207.78.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same quarter last year, the business earned $2.20 earnings per share. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. Equities analysts predict that International Business Machines will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is 97.23%.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s 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 of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.07% of the stock is currently owned by corporate insiders.

Institutional Trading of International Business Machines

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Lantz Financial LLC lifted its position in shares of International Business Machines by 0.9% during the second quarter. Lantz Financial LLC now owns 11,935 shares of the technology company’s stock worth $2,064,000 after purchasing an additional 107 shares during the last quarter. Versor Investments LP bought a new stake in shares of International Business Machines in the 2nd quarter valued at approximately $364,000. Stablepoint Partners LLC raised its position in shares of International Business Machines by 7.5% during the 2nd quarter. Stablepoint Partners LLC now owns 5,252 shares of the technology company’s stock valued at $1,006,000 after acquiring an additional 368 shares in the last quarter. TD Asset Management Inc lifted its stake in International Business Machines by 4.2% during the second quarter. TD Asset Management Inc now owns 620,636 shares of the technology company’s stock worth $107,339,000 after purchasing an additional 24,818 shares during the last quarter. Finally, Bordeaux Wealth Advisors LLC acquired a new position in International Business Machines in the second quarter worth $217,000. 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.