Royal Bank of Canada Raises International Business Machines (NYSE:IBM) Price Target to $250.00

International Business Machines (NYSE:IBM) had its price target boosted by Royal Bank of Canada from $211.00 to $250.00 in a research report report published on Thursday, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other equities research analysts have also commented on the stock. Jefferies Financial Group increased their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the company a hold rating in a research note on Thursday, July 25th. UBS Group increased 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. The Goldman Sachs Group boosted their price objective on International Business Machines from $220.00 to $250.00 and gave the stock a buy rating in a research report on Monday, September 30th. Stifel Nicolaus raised their target price on International Business Machines from $190.00 to $205.00 and gave the company a buy rating in a research report on Thursday, July 25th. Finally, DZ Bank downgraded shares of International Business Machines from a buy rating to a hold rating and set a $215.00 price target on the stock. in a report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Hold and a consensus target price of $198.41.

International Business Machines Price Performance

IBM stock opened at $233.26 on Thursday. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. The business has a 50-day simple moving average of $207.67 and a two-hundred day simple moving average of $187.62. The company has a market capitalization of $214.27 billion, a P/E ratio of 26.42, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. International Business Machines has a 52-week low of $135.87 and a 52-week high of $235.83.

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

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.86%. The ex-dividend date was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

Institutional Trading of International Business Machines

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bayesian Capital Management LP purchased a new position in International Business Machines during the fourth quarter valued at approximately $6,442,000. Bontempo Ohly Capital Mgmt LLC increased its holdings in shares of International Business Machines by 0.5% in the fourth quarter. Bontempo Ohly Capital Mgmt LLC now owns 22,474 shares of the technology company’s stock worth $3,676,000 after purchasing an additional 112 shares during the period. Grayhawk Investment Strategies Inc. purchased a new stake in shares of International Business Machines in the fourth quarter worth $540,000. Pettyjohn Wood & White Inc. boosted its stake in International Business Machines by 0.9% during the fourth quarter. Pettyjohn Wood & White Inc. now owns 7,097 shares of the technology company’s stock valued at $1,161,000 after buying an additional 62 shares during the period. Finally, Options Solutions LLC grew its position in International Business Machines by 54.0% during the fourth quarter. Options Solutions LLC now owns 3,235 shares of the technology company’s stock worth $529,000 after buying an additional 1,135 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

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.