International Business Machines (NYSE:IBM) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of International Business Machines (NYSE:IBM) in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a $200.00 target price on the technology company’s stock.

Other analysts have also issued reports about the company. Wedbush raised their price objective on International Business Machines from $140.00 to $160.00 and gave the company a neutral rating in a report on Thursday, April 25th. Morgan Stanley cut their price target on shares of International Business Machines from $186.00 to $179.00 and set an equal weight rating for the company in a report on Friday, April 26th. BMO Capital Markets dropped their target price on shares of International Business Machines from $210.00 to $190.00 and set a market perform rating on the stock in a research report on Thursday, April 25th. StockNews.com downgraded shares of International Business Machines from a buy rating to a hold rating in a research report on Wednesday, May 1st. Finally, BNP Paribas assumed coverage on International Business Machines in a report on Thursday, May 2nd. They issued an underperform rating and a $145.00 price objective on the stock. Three 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, International Business Machines has an average rating of Hold and an average price target of $181.29.

International Business Machines Trading Up 0.1 %

International Business Machines stock opened at $170.89 on Wednesday. The firm has a market cap of $156.98 billion, a PE ratio of 19.35, a P/E/G ratio of 4.20 and a beta of 0.74. International Business Machines has a 12 month low of $125.01 and a 12 month high of $199.18. The stock’s 50 day simple moving average is $179.12 and its two-hundred day simple moving average is $174.04. The company has a current ratio of 1.13, a quick ratio of 1.09 and a debt-to-equity ratio of 2.32.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Tuesday, April 30th. The technology company reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The company had revenue of $14.46 billion during the quarter, compared to analysts’ expectations of $14.53 billion. During the same quarter in the previous year, the company earned $1.36 earnings per share. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. Analysts anticipate that International Business Machines will post 9.91 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a $1.67 dividend. The ex-dividend date is Thursday, May 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.91%. This is a positive change from International Business Machines’s previous quarterly dividend of $1.66. International Business Machines’s dividend payout ratio is currently 75.65%.

Hedge Funds Weigh In On International Business Machines

Several institutional investors and hedge funds have recently bought and sold shares of the company. WealthPlan Investment Management LLC increased its position in shares of International Business Machines by 220,760.0% during the 3rd quarter. WealthPlan Investment Management LLC now owns 44,172 shares of the technology company’s stock worth $6,197,000 after purchasing an additional 44,152 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in shares of International Business Machines by 210.8% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 6,673 shares of the technology company’s stock valued at $936,000 after acquiring an additional 4,526 shares during the period. Corient Private Wealth LLC lifted its holdings in shares of International Business Machines by 4.0% in the 3rd quarter. Corient Private Wealth LLC now owns 375,461 shares of the technology company’s stock worth $52,680,000 after acquiring an additional 14,271 shares during the last quarter. Signaturefd LLC boosted its position in shares of International Business Machines by 18.4% during the 3rd quarter. Signaturefd LLC now owns 19,247 shares of the technology company’s stock worth $2,700,000 after purchasing an additional 2,991 shares during the period. Finally, Strategic Wealth Investment Group LLC increased its holdings in International Business Machines by 12.1% in the 3rd quarter. Strategic Wealth Investment Group LLC now owns 33,831 shares of the technology company’s stock valued at $4,747,000 after purchasing an additional 3,653 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

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.