IBM (NYSE:IBM) had its target price lifted by Nomura from $160.00 to $165.00 in a report issued on Thursday morning, The Fly reports. The brokerage currently has a buy rating on the technology company’s stock.
A number of other research analysts have also recently commented on IBM. JPMorgan Chase & Co. cut News from a neutral rating to an underweight rating in a research report on Thursday. BMO Capital Markets assumed coverage on Yelp in a report on Wednesday, April 17th. They set an outperform rating on the stock. Credit Suisse Group increased their price objective on Delta Air Lines from $37.00 to $68.00 and gave the stock an outperform rating in a report on Thursday, April 11th. Evercore ISI assumed coverage on Sensata Technologies in a report on Wednesday, June 5th. They set an in-line rating and a $50.00 price objective on the stock. Finally, Zacks Investment Research cut HANNOVER RUECK/S from a hold rating to a sell rating in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $155.65.
Shares of NYSE IBM opened at $149.68 on Thursday. IBM has a one year low of $105.94 and a one year high of $154.36. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.83 and a quick ratio of 1.31. The company’s fifty day moving average price is $137.84. The stock has a market cap of $132.71 billion, a PE ratio of 10.84, a PEG ratio of 2.72 and a beta of 1.25.
IBM (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 17th. The technology company reported $3.17 EPS for the quarter, beating analysts’ consensus estimates of $3.06 by $0.11. IBM had a return on equity of 69.56% and a net margin of 11.22%. The firm had revenue of $19.20 billion for the quarter, compared to analysts’ expectations of $19.20 billion. During the same quarter in the prior year, the firm earned $3.08 EPS. The business’s revenue for the quarter was down 4.0% compared to the same quarter last year. As a group, research analysts forecast that IBM will post 13.89 earnings per share for the current fiscal year.
In other IBM news, SVP Kenneth M. Keverian sold 2,083 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $132.00, for a total value of $274,956.00. Following the transaction, the senior vice president now directly owns 34,465 shares in the company, valued at approximately $4,549,380. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kenneth M. Keverian sold 2,227 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $135.15, for a total value of $300,979.05. Following the completion of the transaction, the senior vice president now owns 32,878 shares in the company, valued at $4,443,461.70. The disclosure for this sale can be found here. Insiders sold a total of 7,000 shares of company stock worth $940,430 over the last 90 days. Corporate insiders own 0.19% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in IBM. Halsey Associates Inc. CT increased its position in shares of IBM by 30.3% in the fourth quarter. Halsey Associates Inc. CT now owns 19,073 shares of the technology company’s stock worth $2,168,000 after acquiring an additional 4,434 shares in the last quarter. Sycomore Asset Management purchased a new position in shares of IBM in the fourth quarter worth approximately $81,000. Nalls Sherbakoff Group LLC purchased a new position in shares of IBM in the fourth quarter worth approximately $34,000. MUFG Securities EMEA plc increased its position in shares of IBM by 44.8% in the fourth quarter. MUFG Securities EMEA plc now owns 216,780 shares of the technology company’s stock worth $24,641,000 after acquiring an additional 67,055 shares in the last quarter. Finally, First American Bank increased its position in shares of IBM by 15.4% in the first quarter. First American Bank now owns 10,412 shares of the technology company’s stock worth $1,469,000 after acquiring an additional 1,392 shares in the last quarter. Institutional investors and hedge funds own 55.19% of the company’s stock.
IBM Company Profile
International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers a portfolio of enterprise artificial intelligence platforms, such as analytics and data management platforms, cloud data services, talent management, and industry solutions primarily under the Watson Platform, Watson Health, and Watson Internet of Things names.
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