International Business Machines (NYSE:IBM) Given New $270.00 Price Target at BMO Capital Markets

International Business Machines (NYSE:IBMFree Report) had its target price reduced by BMO Capital Markets from $290.00 to $270.00 in a research note released on Thursday, Marketbeat.com reports. They currently have a market perform rating on the technology company’s stock.

Several other research analysts also recently weighed in on the stock. Citigroup started coverage on shares of International Business Machines in a research note on Friday, April 10th. They issued a “buy” rating and a $285.00 target price for the company. DZ Bank upgraded shares of International Business Machines to a “hold” rating in a research note on Wednesday, February 11th. Morgan Stanley increased their price objective on shares of International Business Machines from $215.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Thursday. Oppenheimer dropped their price target on International Business Machines from $380.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday, April 16th. Finally, UBS Group raised International Business Machines from a “sell” rating to a “neutral” rating and set a $236.00 price target on the stock in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, International Business Machines has an average rating of “Moderate Buy” and a consensus target price of $300.60.

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International Business Machines Price Performance

IBM opened at $231.81 on Thursday. International Business Machines has a 52-week low of $220.72 and a 52-week high of $324.90. The company has a 50 day moving average of $246.48 and a two-hundred day moving average of $280.87. The company has a market cap of $217.44 billion, a P/E ratio of 20.50, a P/E/G ratio of 2.64 and a beta of 0.69. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 1.67.

International Business Machines (NYSE:IBMGet Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.10. International Business Machines had a return on equity of 38.37% and a net margin of 15.61%.The firm had revenue of $15.92 billion during the quarter, compared to the consensus estimate of $15.60 billion. During the same period in the prior year, the firm earned $1.60 EPS. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. On average, analysts expect that International Business Machines will post 12.34 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Friday, May 8th will be paid a $1.69 dividend. The ex-dividend date is Friday, May 8th. This is an increase from International Business Machines’s previous quarterly dividend of $1.68. This represents a $6.76 annualized dividend and a dividend yield of 2.9%. International Business Machines’s dividend payout ratio (DPR) is 60.27%.

Insider Buying and Selling

In other International Business Machines news, Director David N. Farr acquired 1,000 shares of International Business Machines stock in a transaction dated Friday, January 30th. The stock was acquired at an average cost of $304.00 per share, for a total transaction of $304,000.00. Following the completion of the transaction, the director owned 9,258 shares in the company, valued at approximately $2,814,432. This represents a 12.11% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael Miebach acquired 434 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was acquired at an average cost of $233.33 per share, with a total value of $101,265.22. Following the completion of the acquisition, the director directly owned 434 shares in the company, valued at approximately $101,265.22. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders have bought 1,484 shares of company stock worth $417,157. Corporate insiders own 0.27% of the company’s stock.

Institutional Investors Weigh In On International Business Machines

Hedge funds and other institutional investors have recently modified their holdings of the stock. CVA Family Office LLC increased its stake in International Business Machines by 1.4% during the 4th quarter. CVA Family Office LLC now owns 2,389 shares of the technology company’s stock valued at $708,000 after buying an additional 33 shares during the period. Foster Group Inc. lifted its stake in shares of International Business Machines by 1.3% in the 4th quarter. Foster Group Inc. now owns 2,507 shares of the technology company’s stock worth $742,000 after acquiring an additional 33 shares during the period. New Covenant Trust Company N.A. lifted its stake in shares of International Business Machines by 3.8% in the 4th quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company’s stock worth $264,000 after acquiring an additional 33 shares during the period. McGowan Group Asset Management Inc. boosted its holdings in shares of International Business Machines by 1.2% in the fourth quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company’s stock valued at $798,000 after acquiring an additional 33 shares in the last quarter. Finally, CFS Investment Advisory Services LLC increased its stake in shares of International Business Machines by 0.4% during the third quarter. CFS Investment Advisory Services LLC now owns 9,359 shares of the technology company’s stock valued at $2,878,000 after acquiring an additional 34 shares during the period. 58.96% of the stock is currently owned by institutional investors.

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International Business Machines Company Profile

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International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

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Analyst Recommendations for International Business Machines (NYSE:IBM)

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