International Business Machines (NYSE:IBM) Price Target Raised to $160.00

International Business Machines (NYSE:IBM) had its target price upped by Wedbush from $140.00 to $160.00 in a research report sent to investors on Thursday morning, Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

IBM has been the subject of a number of other research reports. UBS Group raised their target price on International Business Machines from $125.00 to $130.00 and gave the stock a sell rating in a research note on Monday, April 22nd. Stifel Nicolaus restated a buy rating and issued a $190.00 target price on shares of International Business Machines in a research note on Wednesday, April 17th. Jefferies Financial Group reduced their target price on International Business Machines from $215.00 to $210.00 and set a hold rating for the company in a research note on Tuesday, April 23rd. Bank of America raised their target price on International Business Machines from $200.00 to $220.00 and gave the stock a buy rating in a research note on Thursday, March 14th. Finally, Evercore upgraded International Business Machines from an in-line rating to an outperform rating and raised their target price for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $184.08.

International Business Machines Stock Down 1.1 %

Shares of NYSE:IBM opened at $167.13 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.13 and a debt-to-equity ratio of 2.32. The stock has a market cap of $153.21 billion, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 3.30 and a beta of 0.70. The business’s 50 day moving average is $187.60 and its 200 day moving average is $170.34. International Business Machines has a 52-week low of $120.55 and a 52-week high of $199.18.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.59 by $0.09. International Business Machines had a return on equity of 40.21% and a net margin of 13.18%. The firm had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. During the same quarter in the prior year, the business posted $1.36 EPS. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. Sell-side analysts predict that International Business Machines will post 9.99 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were paid a dividend of $1.66 per share. The ex-dividend date was Thursday, February 8th. This represents a $6.64 dividend on an annualized basis and a dividend yield of 3.97%. International Business Machines’s payout ratio is currently 75.20%.

Hedge Funds Weigh In On International Business Machines

Institutional investors have recently modified their holdings of the stock. James Hambro & Partners grew its position in shares of International Business Machines by 5.7% during the 1st quarter. James Hambro & Partners now owns 78,990 shares of the technology company’s stock valued at $15,078,000 after acquiring an additional 4,286 shares during the period. Conning Inc. grew its position in shares of International Business Machines by 24.1% during the 1st quarter. Conning Inc. now owns 4,513 shares of the technology company’s stock valued at $862,000 after acquiring an additional 877 shares during the period. Pinnacle Associates Ltd. grew its position in shares of International Business Machines by 2.3% during the 1st quarter. Pinnacle Associates Ltd. now owns 134,165 shares of the technology company’s stock valued at $25,620,000 after acquiring an additional 3,068 shares during the period. Trueblood Wealth Management LLC grew its position in shares of International Business Machines by 51.1% during the 1st quarter. Trueblood Wealth Management LLC now owns 2,100 shares of the technology company’s stock valued at $401,000 after acquiring an additional 710 shares during the period. Finally, Sterling Investment Counsel LLC grew its position in shares of International Business Machines by 6.0% during the 1st quarter. Sterling Investment Counsel LLC now owns 2,117 shares of the technology company’s stock valued at $404,000 after acquiring an additional 120 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

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.