International Business Machines (NYSE:IBM) Given New $217.00 Price Target at Morgan Stanley

International Business Machines (NYSE:IBM) had its price target reduced by analysts at Morgan Stanley from $222.00 to $217.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price target would indicate a potential downside of 3.45% from the stock’s current price.

Several other research firms also recently issued reports on IBM. UBS Group upped their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Bernstein Bank increased their price target on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Stifel Nicolaus increased their price target on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Sanford C. Bernstein increased their price target on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research note on Friday, January 3rd. Finally, Jefferies Financial Group increased 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, October 21st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, International Business Machines currently has an average rating of “Hold” and a consensus target price of $220.40.

International Business Machines Trading Up 0.3 %

NYSE:IBM traded up $0.62 during trading hours on Tuesday, hitting $224.75. 1,426,721 shares of the stock were exchanged, compared to its average volume of 3,506,051. The company’s 50 day moving average is $224.65 and its two-hundred day moving average is $213.14. International Business Machines has a twelve month low of $162.62 and a twelve month high of $239.35. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The company has a market capitalization of $207.82 billion, a P/E ratio of 32.70, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74.

Insiders Place Their Bets

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.07% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of International Business Machines by 2.2% in the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. FMR LLC grew its stake in shares of International Business Machines by 6.0% in the third quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock worth $1,148,717,000 after purchasing an additional 294,276 shares during the last quarter. Swiss National Bank grew its stake in shares of International Business Machines by 0.5% in the third quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock worth $602,819,000 after purchasing an additional 12,400 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of International Business Machines by 20,324.5% in the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after purchasing an additional 2,702,340 shares during the last quarter. Finally, Holocene Advisors LP bought a new stake in shares of International Business Machines in the third quarter worth $573,306,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

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.