International Business Machines (NYSE:IBM) Given New $260.00 Price Target at BMO Capital Markets

International Business Machines (NYSE:IBM) had its price target lifted by BMO Capital Markets from $235.00 to $260.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “market perform” rating on the technology company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 11.71% from the company’s current price.

Other equities analysts also recently issued research reports about the company. Jefferies Financial Group lifted their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday. The Goldman Sachs Group upped their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Morgan Stanley raised their price objective on International Business Machines from $182.00 to $217.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Finally, DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $208.65.

International Business Machines Trading Up 0.2 %

NYSE IBM opened at $232.75 on Thursday. International Business Machines has a 52 week low of $136.05 and a 52 week high of $237.37. The business has a 50 day moving average price of $214.67 and a 200-day moving average price of $190.05. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The company has a market cap of $213.80 billion, a price-to-earnings ratio of 26.36, a P/E/G ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.25 by $0.05. The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.20 earnings per share. As a group, equities analysts expect that International Business Machines will post 10.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On International Business Machines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBM. Consolidated Portfolio Review Corp bought a new position in International Business Machines during the third quarter worth about $214,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of International Business Machines by 9.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 779,468 shares of the technology company’s stock valued at $172,320,000 after buying an additional 68,760 shares in the last quarter. Masso Torrence Wealth Management Inc. bought a new position in International Business Machines in the 3rd quarter worth approximately $214,000. NorthCrest Asset Manangement LLC grew its stake in International Business Machines by 3.7% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 86,696 shares of the technology company’s stock valued at $19,163,000 after buying an additional 3,128 shares in the last quarter. Finally, Arkadios Wealth Advisors raised its holdings in International Business Machines by 8.0% during the 3rd quarter. Arkadios Wealth Advisors now owns 18,735 shares of the technology company’s stock valued at $4,142,000 after acquiring an additional 1,380 shares during the period. 58.96% of the stock is currently owned by 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.