JPMorgan Chase & Co. Forecasts Strong Price Appreciation for International Business Machines (NYSE:IBM) Stock

International Business Machines (NYSE:IBM) had its price objective hoisted by equities research analysts at JPMorgan Chase & Co. from $233.00 to $244.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 5.51% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. UBS Group boosted their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Jefferies Financial Group increased their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research report on Monday, October 21st. BMO Capital Markets lifted their target price on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday. Morgan Stanley increased their price target on shares of International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research report on Monday. Two investment 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. Based on data from MarketBeat, International Business Machines presently has an average rating of “Hold” and a consensus target price of $225.53.

International Business Machines Stock Up 12.9 %

Shares of International Business Machines stock traded up $29.59 during trading on Thursday, reaching $258.22. The stock had a trading volume of 15,347,853 shares, compared to its average volume of 4,482,261. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The company has a market capitalization of $238.76 billion, a price-to-earnings ratio of 37.59, a P/E/G ratio of 4.78 and a beta of 0.74. International Business Machines has a 52 week low of $162.62 and a 52 week high of $261.80. The stock has a fifty day moving average price of $225.24 and a two-hundred day moving average price of $213.55.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. Sell-side analysts predict that International Business Machines will post 10.16 EPS for the current fiscal year.

Insider Activity

In related 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 transaction of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is currently owned by corporate insiders.

Institutional Trading of International Business Machines

Several institutional investors have recently added to or reduced their stakes in IBM. State Street Corp increased its position in shares of International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after buying an additional 1,200,803 shares during the period. FMR LLC raised its position in shares of International Business Machines by 6.0% in the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock worth $1,148,717,000 after acquiring an additional 294,276 shares in the last quarter. Swiss National Bank lifted its stake in shares of International Business Machines by 0.5% in the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after purchasing an additional 12,400 shares during the period. International Assets Investment Management LLC boosted its position in shares of International Business Machines by 20,324.5% during the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock valued at $600,373,000 after purchasing an additional 2,702,340 shares in the last quarter. Finally, Holocene Advisors LP acquired a new stake in International Business Machines during the third quarter worth approximately $573,306,000. 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.