International Business Machines (NYSE:IBM) Upgraded at StockNews.com

StockNews.com upgraded shares of International Business Machines (NYSE:IBM) from a hold rating to a buy rating in a research report sent to investors on Tuesday morning.

A number of other analysts also recently issued reports on the company. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research report on Wednesday, October 2nd. Evercore ISI boosted their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Morgan Stanley decreased their price target on International Business Machines from $217.00 to $208.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 24th. Finally, Jefferies Financial Group lifted their price target on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research note on Monday, October 21st. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Trading Down 0.9 %

Shares of International Business Machines stock opened at $209.01 on Tuesday. The stock has a fifty day moving average price of $218.58 and a 200-day moving average price of $193.11. International Business Machines has a 1 year low of $150.40 and a 1 year high of $237.37. The firm has a market cap of $193.26 billion, a PE ratio of 30.42, a P/E/G ratio of 4.74 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same quarter last year, the firm posted $2.20 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities research analysts anticipate that International Business Machines will post 10.11 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 12th will be paid a $1.67 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $6.68 annualized dividend and a dividend yield of 3.20%. International Business Machines’s payout ratio is currently 97.23%.

Insider Buying and Selling

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This represents a 12.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On International Business Machines

Several hedge funds and other institutional investors have recently modified their holdings of the company. Susquehanna Fundamental Investments LLC bought a new position in International Business Machines in the 2nd quarter worth $7,160,000. Philip James Wealth Mangement LLC purchased a new position in shares of International Business Machines during the third quarter valued at about $5,117,000. Focused Wealth Management Inc grew its position in shares of International Business Machines by 52.2% during the third quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock valued at $2,504,000 after purchasing an additional 3,887 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in shares of International Business Machines by 4.5% in the 3rd quarter. QRG Capital Management Inc. now owns 140,185 shares of the technology company’s stock valued at $30,992,000 after acquiring an additional 6,004 shares during the last quarter. Finally, F M Investments LLC lifted its holdings in shares of International Business Machines by 39.6% in the 3rd quarter. F M Investments LLC now owns 61,938 shares of the technology company’s stock valued at $13,696,000 after acquiring an additional 17,554 shares during the last quarter. 58.96% of the stock is owned by 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.