International Business Machines (NYSE:IBM) Shares Up 0.8% on Analyst Upgrade

Shares of International Business Machines Co. (NYSE:IBM) rose 0.8% during trading on Thursday after Bernstein Bank raised their price target on the stock from $185.00 to $210.00. Bernstein Bank currently has a market perform rating on the stock. International Business Machines traded as high as $221.82 and last traded at $221.53. Approximately 847,675 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 4,209,219 shares. The stock had previously closed at $219.73.

Other research analysts have also recently issued reports about the company. Jefferies Financial Group raised their price objective on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Evercore ISI increased their price objective on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. DZ Bank cut 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 report on Wednesday. UBS Group increased their price target on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Finally, BMO Capital Markets boosted their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $194.35.

Institutional Trading of International Business Machines

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines during the first quarter valued at approximately $26,000. ESL Trust Services LLC purchased a new position in International Business Machines during the first quarter valued at $28,000. Creekmur Asset Management LLC bought a new stake in International Business Machines in the fourth quarter worth $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of International Business Machines in the fourth quarter worth $31,000. Finally, Oliver Lagore Vanvalin Investment Group bought a new position in shares of International Business Machines during the second quarter valued at $36,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Up 1.5 %

The stock has a market cap of $207.60 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 4.90 and a beta of 0.70. The firm has a 50-day moving average price of $203.61 and a 200-day moving average price of $186.27. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12.

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

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.96%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio is currently 75.65%.

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.