Bank of America Boosts International Business Machines (NYSE:IBM) Price Target to $250.00

International Business Machines (NYSE:IBM) had its price objective raised by Bank of America from $209.00 to $250.00 in a report published on Wednesday morning, Benzinga reports. Bank of America currently has a buy rating on the technology company’s stock.

Several other research analysts have also recently weighed in on IBM. UBS Group lifted their price target on International Business Machines from $130.00 to $145.00 and gave the company a sell rating in a research report on Wednesday, September 4th. Bernstein Bank increased their price target on shares of International Business Machines from $185.00 to $210.00 and gave the stock a market perform rating in a report on Thursday, October 3rd. BMO Capital Markets lifted their price objective on shares of International Business Machines from $190.00 to $210.00 and gave the company a market perform rating in a report on Thursday, July 25th. Hsbc Global Res raised shares of International Business Machines to a moderate sell rating in a research note on Friday, July 26th. Finally, DZ Bank lowered International Business Machines from a buy rating to a hold rating and set a $215.00 price target for the company. in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, International Business Machines currently has an average rating of Hold and a consensus target price of $198.41.

International Business Machines Stock Up 0.1 %

NYSE:IBM opened at $233.34 on Wednesday. The company’s 50 day moving average is $207.67 and its two-hundred day moving average is $187.65. The company has a market cap of $214.94 billion, a PE ratio of 25.73, a P/E/G ratio of 5.21 and a beta of 0.70. International Business Machines has a twelve month low of $135.87 and a twelve month high of $235.83. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.27. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $15.77 billion for the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the previous year, the business earned $2.18 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. Analysts anticipate that International Business Machines will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is 73.65%.

Institutional Investors Weigh In On International Business Machines

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after buying an additional 5,546,855 shares during the period. Legal & General Group Plc boosted its holdings in International Business Machines by 4.1% in the second quarter. Legal & General Group Plc now owns 8,487,827 shares of the technology company’s stock valued at $1,467,974,000 after purchasing an additional 330,694 shares during the period. Ameriprise Financial Inc. grew its stake in International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after purchasing an additional 444,698 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in International Business Machines by 6.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,796,206 shares of the technology company’s stock worth $829,431,000 after purchasing an additional 304,390 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in International Business Machines by 151.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after purchasing an additional 2,118,165 shares in the last quarter. Hedge funds and other institutional investors 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.