International Business Machines (NYSE:IBM) Price Target Lowered to $265.00 at Jefferies Financial Group

International Business Machines (NYSE:IBM) had its target price cut by investment analysts at Jefferies Financial Group from $270.00 to $265.00 in a report released on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 8.63% from the company’s previous close.

Several other brokerages have also commented on IBM. BMO Capital Markets boosted 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 research report on Thursday, January 30th. Oppenheimer assumed coverage on International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price target for the company. Bank of America boosted their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a research note on Monday, January 27th. Finally, Wedbush initiated coverage on International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating for the company. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $231.13.

International Business Machines Stock Down 0.0 %

International Business Machines stock opened at $243.96 on Monday. The stock has a market capitalization of $226.21 billion, a price-to-earnings ratio of 37.96, a PEG ratio of 5.81 and a beta of 0.74. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The stock has a 50 day moving average of $249.51 and a two-hundred day moving average of $231.62. International Business Machines has a twelve month low of $162.62 and a twelve month high of $266.45.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, research analysts expect that International Business Machines will post 10.78 earnings per share for the current year.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares in the company, valued at $11,387,221.07. This represents a 37.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On International Business Machines

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in International Business Machines by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 91,839,252 shares of the technology company’s stock valued at $20,189,023,000 after buying an additional 1,539,888 shares during the last quarter. State Street Corp raised its position in shares of International Business Machines by 2.2% during the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after acquiring an additional 1,200,803 shares in the last quarter. Geode Capital Management LLC lifted its stake in International Business Machines by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock worth $4,589,145,000 after purchasing an additional 427,499 shares during the last quarter. Capital World Investors boosted its holdings in International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after purchasing an additional 9,650,534 shares during the period. Finally, Northern Trust Corp increased its stake in International Business Machines by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $2,384,275,000 after purchasing an additional 1,704,209 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.