International Business Machines (NYSE:IBM) Price Target Raised to $260.00 at Bank of America

International Business Machines (NYSE:IBM) had its target price increased by equities researchers at Bank of America from $250.00 to $260.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Bank of America‘s price objective suggests a potential upside of 16.55% from the company’s current price.

Other equities research analysts have also issued research reports about the company. BMO Capital Markets lifted their price objective on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a report on Thursday, October 24th. Bernstein Bank boosted their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. StockNews.com cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Finally, Sanford C. Bernstein lifted their price target on International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a research report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $220.73.

International Business Machines Stock Performance

Shares of IBM opened at $223.09 on Thursday. International Business Machines has a 52 week low of $162.62 and a 52 week high of $239.35. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The stock has a 50 day moving average price of $223.60 and a two-hundred day moving average price of $211.90. The firm has a market capitalization of $206.28 billion, a P/E ratio of 32.47, a P/E/G ratio of 4.80 and a beta of 0.74.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter in the previous year, the firm posted $2.20 EPS. International Business Machines’s revenue was up 1.5% on a year-over-year basis. Equities analysts forecast that International Business Machines will post 10.16 earnings per share for the current fiscal year.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.07% of the stock is currently owned by insiders.

Hedge Funds Weigh In On International Business Machines

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Ellenbecker Investment Group lifted its position in International Business Machines by 2.3% in the 3rd quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after buying an additional 46 shares during the last quarter. Goldstein Advisors LLC lifted its holdings in shares of International Business Machines by 4.0% in the 3rd quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after acquiring an additional 47 shares during the last quarter. Vertex Planning Partners LLC boosted its stake in shares of International Business Machines by 3.6% in the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock valued at $298,000 after purchasing an additional 47 shares in the last quarter. Forza Wealth Management LLC grew its holdings in shares of International Business Machines by 0.4% during the 4th quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock valued at $2,891,000 after purchasing an additional 47 shares during the last quarter. Finally, Foster Group Inc. raised its position in International Business Machines by 2.4% in the 4th quarter. Foster Group Inc. now owns 2,025 shares of the technology company’s stock worth $445,000 after purchasing an additional 48 shares during the period. 58.96% of the stock is currently owned by hedge funds and other 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.