International Business Machines (NYSE:IBM) Price Target Raised to $270.00 at Bank of America

International Business Machines (NYSE:IBM) had its price objective lifted by Bank of America from $260.00 to $270.00 in a research report report published on Thursday morning,Benzinga reports. Bank of America currently has a buy rating on the technology company’s stock.

Several other research analysts have also recently issued reports on IBM. Morgan Stanley increased their price objective on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on International Business Machines from $227.00 to $233.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Bernstein Bank raised 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 boosted their target price on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research report on Friday, January 3rd. Finally, DZ Bank cut 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. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, International Business Machines has a consensus rating of “Hold” and an average price target of $225.53.

International Business Machines Trading Up 12.9 %

NYSE IBM opened at $258.22 on Thursday. The firm’s fifty day moving average is $225.24 and its two-hundred day moving average is $213.55. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The firm has a market cap of $238.76 billion, a PE ratio of 40.28, a P/E/G ratio of 4.25 and a beta of 0.74. International Business Machines has a one year low of $162.62 and a one year high of $261.80.

International Business Machines (NYSE:IBM) last released its quarterly earnings results 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 return on equity of 40.37% and a net margin of 9.60%. Analysts expect that International Business Machines will post 10.54 earnings per share for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is currently 104.21%.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the sale, the senior vice president now owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On International Business Machines

Institutional investors have recently bought and sold shares of the business. State Street Corp boosted its position in International Business Machines by 2.2% during the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares during the period. FMR LLC boosted 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 worth $1,148,717,000 after buying an additional 294,276 shares during the period. Swiss National Bank grew its stake in shares of International Business Machines by 0.5% in the third 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 raised its holdings in shares of International Business Machines by 20,324.5% during 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 buying an additional 2,702,340 shares during the period. Finally, Holocene Advisors LP acquired a new position in International Business Machines during the 3rd quarter worth approximately $573,306,000. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Company Profile

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.