StockNews.com Upgrades International Business Machines (NYSE:IBM) to “Buy”

StockNews.com upgraded shares of International Business Machines (NYSE:IBM) from a hold rating to a buy rating in a research report released on Tuesday morning.

IBM has been the topic of a number of other reports. Royal Bank of Canada reiterated an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. UBS Group increased their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Bank of America increased their price objective on shares of International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. BMO Capital Markets increased their price objective 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. Finally, The Goldman Sachs Group increased their price objective 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. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $208.12.

International Business Machines Price Performance

Shares of International Business Machines stock opened at $210.93 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The stock has a market capitalization of $195.04 billion, a price-to-earnings ratio of 30.70, a P/E/G ratio of 4.80 and a beta of 0.71. International Business Machines has a 1-year low of $147.35 and a 1-year high of $237.37. The firm’s 50-day moving average price is $218.25 and its two-hundred day moving average price is $192.68.

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 company had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same period in the prior year, the business earned $2.20 earnings per share. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. On average, equities analysts predict that International Business Machines will post 10.11 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be given a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 3.17%. The ex-dividend date is Tuesday, November 12th. International Business Machines’s dividend payout ratio is 97.23%.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The shares were 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 of the company’s stock, valued at $5,463,928. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Hazlett Burt & Watson Inc. grew its position in International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares in the last quarter. Hara Capital LLC acquired a new stake in International Business Machines in the third quarter valued at $29,000. ESL Trust Services LLC acquired a new stake in International Business Machines in the first quarter valued at $28,000. Capital Performance Advisors LLP acquired a new stake in International Business Machines in the third quarter valued at $43,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in International Business Machines in the second quarter valued at $36,000. 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.