International Business Machines (NYSE:IBM – Get Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
Several other analysts also recently weighed in on IBM. Evercore ISI upgraded shares of International Business Machines from an “in-line” rating to an “outperform” rating and upped their target price for the company from $165.00 to $200.00 in a report on Friday, January 19th. Societe Generale reiterated a “sell” rating and set a $143.00 target price on shares of International Business Machines in a research report on Friday, January 5th. Sanford C. Bernstein upped their target price on International Business Machines from $165.00 to $186.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. Bank of America lifted their price target on International Business Machines from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Finally, Royal Bank of Canada increased their price objective on International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, International Business Machines presently has an average rating of “Hold” and an average target price of $176.85.
International Business Machines Stock Down 0.1 %
International Business Machines stock traded down $0.14 during trading on Thursday, reaching $185.90. The stock had a trading volume of 2,848,421 shares, compared to its average volume of 4,897,896. The stock has a market cap of $170.42 billion, a PE ratio of 22.87, a P/E/G ratio of 3.72 and a beta of 0.70. The business has a 50 day moving average price of $188.73 and a 200 day moving average price of $167.26. International Business Machines has a 52-week low of $120.55 and a 52-week high of $199.18. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 2.22.
International Business Machines (NYSE:IBM – Get Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The technology company reported $3.87 earnings per share for the quarter, beating analysts’ consensus estimates of $3.78 by $0.09. The company had revenue of $17.38 billion for the quarter, compared to analysts’ expectations of $17.29 billion. International Business Machines had a return on equity of 39.55% and a net margin of 12.13%. International Business Machines’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period last year, the firm earned $3.60 earnings per share. On average, analysts predict that International Business Machines will post 10.07 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in IBM. Desjardins Global Asset Management Inc. lifted its holdings in shares of International Business Machines by 1.4% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 3,940 shares of the technology company’s stock valued at $644,000 after purchasing an additional 54 shares in the last quarter. Arden Trust Co lifted its stake in International Business Machines by 2.8% in the 1st quarter. Arden Trust Co now owns 1,973 shares of the technology company’s stock valued at $377,000 after buying an additional 54 shares in the last quarter. Calamos Wealth Management LLC grew its holdings in International Business Machines by 2.8% during the 4th quarter. Calamos Wealth Management LLC now owns 2,007 shares of the technology company’s stock valued at $328,000 after buying an additional 55 shares during the last quarter. Avion Wealth increased its position in International Business Machines by 6.2% during the fourth quarter. Avion Wealth now owns 964 shares of the technology company’s stock worth $158,000 after buying an additional 56 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its holdings in shares of International Business Machines by 0.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,528 shares of the technology company’s stock worth $1,309,000 after acquiring an additional 58 shares during the last quarter. Institutional investors and hedge funds 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.