International Business Machines (NYSE:IBM) Price Target Cut to $185.00 by Analysts at JPMorgan Chase & Co.

International Business Machines (NYSE:IBM) had its target price cut by JPMorgan Chase & Co. from $190.00 to $185.00 in a report issued on Thursday, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

A number of other research analysts also recently commented on the company. Bank of America upped their price objective on International Business Machines from $200.00 to $220.00 and gave the stock a buy rating in a research note on Thursday, March 14th. Wedbush upped their price objective on International Business Machines from $140.00 to $160.00 and gave the stock a neutral rating in a research note on Thursday. Stifel Nicolaus restated a buy rating and set a $190.00 price objective on shares of International Business Machines in a research note on Wednesday, April 17th. Jefferies Financial Group lowered their price objective on International Business Machines from $215.00 to $210.00 and set a hold rating for the company in a research note on Tuesday. Finally, Societe Generale restated a sell rating and set a $143.00 price objective on shares of International Business Machines in a research note on Friday, January 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of $184.08.

International Business Machines Stock Down 1.2 %

Shares of IBM traded down $1.99 during trading on Thursday, reaching $166.92. The company’s stock had a trading volume of 5,716,131 shares, compared to its average volume of 4,964,420. The company has a fifty day moving average of $188.00 and a two-hundred day moving average of $169.97. International Business Machines has a twelve month low of $120.55 and a twelve month high of $199.18. The company has a market cap of $153.02 billion, a price-to-earnings ratio of 18.96, a P/E/G ratio of 3.62 and a beta of 0.70. 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) last announced its earnings results on Wednesday, April 24th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a return on equity of 40.50% and a net margin of 13.18%. The company had revenue of $14.46 billion for the quarter, compared to analyst estimates of $14.53 billion. During the same period in the prior year, the company posted $1.36 EPS. International Business Machines’s quarterly revenue was up 1.5% on a year-over-year basis. On average, sell-side analysts predict that International Business Machines will post 10.04 EPS for the current fiscal year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Saturday, March 9th. Investors of record on Friday, February 9th were given a dividend of $1.66 per share. This represents a $6.64 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s dividend payout ratio is currently 75.20%.

Institutional Investors Weigh In On International Business Machines

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in International Business Machines by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 82,076,195 shares of the technology company’s stock worth $11,515,290,000 after buying an additional 365,388 shares during the period. Morgan Stanley lifted its holdings in International Business Machines by 13.4% during the 3rd quarter. Morgan Stanley now owns 16,257,789 shares of the technology company’s stock worth $2,280,968,000 after buying an additional 1,919,490 shares during the period. Northern Trust Corp lifted its holdings in International Business Machines by 4.2% during the 3rd quarter. Northern Trust Corp now owns 9,970,674 shares of the technology company’s stock worth $1,398,886,000 after buying an additional 404,948 shares during the period. Bank of New York Mellon Corp lifted its holdings in International Business Machines by 10.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 8,691,369 shares of the technology company’s stock worth $1,219,399,000 after buying an additional 807,357 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in International Business Machines by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,465,214 shares of the technology company’s stock worth $1,048,631,000 after buying an additional 61,028 shares during the period. Institutional investors and hedge funds own 58.96% of the company’s stock.

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.