International Business Machines (NYSE:IBM) Price Target Raised to $325.00 at Wedbush

International Business Machines (NYSE:IBM) had its price objective raised by equities research analysts at Wedbush from $300.00 to $325.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Wedbush’s price target indicates a potential upside of 14.78% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. Royal Bank Of Canada lifted their target price on shares of International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. Erste Group Bank upgraded International Business Machines from a “hold” rating to a “strong-buy” rating in a report on Monday, March 17th. Wall Street Zen cut International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. KGI Securities set a $242.00 price objective on International Business Machines and gave the company a “hold” rating in a research report on Thursday, April 24th. Finally, Bank of America lifted their target price on shares of International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average price target of $253.75.

International Business Machines Stock Up 0.0%

Shares of NYSE:IBM opened at $283.15 on Friday. The firm has a market capitalization of $263.16 billion, a PE ratio of 48.74, a price-to-earnings-growth ratio of 5.95 and a beta of 0.66. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. International Business Machines has a 52-week low of $170.41 and a 52-week high of $286.91. The firm has a fifty day moving average of $256.81 and a 200 day moving average of $245.20.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. The company had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. International Business Machines’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.68 EPS. As a group, research analysts anticipate that International Business Machines will post 10.78 EPS for the current fiscal year.

Institutional Investors Weigh In On International Business Machines

Several hedge funds and other institutional investors have recently made changes to their positions in IBM. Vanguard Group Inc. raised its stake in shares of International Business Machines by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company’s stock worth $23,159,637,000 after acquiring an additional 1,298,515 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of International Business Machines by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock valued at $4,589,145,000 after buying an additional 427,499 shares during the period. Capital World Investors increased its holdings in shares of International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock valued at $2,634,577,000 after purchasing an additional 9,650,534 shares in the last quarter. Northern Trust Corp boosted its stake in shares of International Business Machines by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock worth $2,384,275,000 after acquiring an additional 1,704,209 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of International Business Machines by 6.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company’s stock worth $2,147,608,000 after buying an additional 524,633 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

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.