International Business Machines (NYSE:IBM) Price Target Raised to $335.00

International Business Machines (NYSE:IBMFree Report) had its price objective hoisted by Bank of America from $315.00 to $335.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other brokerages also recently issued reports on IBM. UBS Group reaffirmed a “sell” rating on shares of International Business Machines in a research report on Tuesday, December 9th. Weiss Ratings upgraded shares of International Business Machines from a “hold (c+)” rating to a “buy (b)” rating in a research note on Saturday, October 25th. Morgan Stanley dropped their price target on shares of International Business Machines from $256.00 to $252.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 23rd. BMO Capital Markets boosted their price objective on shares of International Business Machines from $300.00 to $305.00 and gave the stock a “market perform” rating in a report on Thursday, October 23rd. Finally, Oppenheimer began coverage on shares of International Business Machines in a research report on Friday, November 21st. They issued an “outperform” rating and a $360.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, International Business Machines has an average rating of “Moderate Buy” and an average target price of $303.38.

Check Out Our Latest Stock Analysis on International Business Machines

International Business Machines Stock Down 3.6%

Shares of NYSE IBM opened at $297.88 on Tuesday. The stock has a fifty day moving average price of $303.48 and a 200 day moving average price of $282.42. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 1.97. International Business Machines has a 12-month low of $214.50 and a 12-month high of $324.90. The company has a market cap of $278.44 billion, a P/E ratio of 35.63, a P/E/G ratio of 2.99 and a beta of 0.70.

International Business Machines (NYSE:IBMGet Free Report) last issued its earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.45 by $0.20. International Business Machines had a return on equity of 37.76% and a net margin of 12.09%.The company had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.10 billion. During the same quarter in the prior year, the business earned $2.30 earnings per share. The company’s revenue was up 9.1% compared to the same quarter last year. Research analysts anticipate that International Business Machines will post 10.78 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were paid a dividend of $1.68 per share. The ex-dividend date was Monday, November 10th. This represents a $6.72 annualized dividend and a yield of 2.3%. International Business Machines’s dividend payout ratio is presently 80.38%.

Institutional Investors Weigh In On International Business Machines

A number of institutional investors have recently made changes to their positions in the company. Family CFO Inc bought a new position in International Business Machines in the 2nd quarter worth approximately $25,000. Winnow Wealth LLC bought a new stake in International Business Machines during the 2nd quarter valued at $27,000. Mountain Hill Investment Partners Corp. acquired a new position in International Business Machines during the 3rd quarter worth $28,000. SWAN Capital LLC bought a new position in shares of International Business Machines in the third quarter worth $28,000. Finally, Highline Wealth Partners LLC grew its stake in shares of International Business Machines by 85.0% in the second quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock worth $33,000 after purchasing an additional 51 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines News Roundup

Here are the key news stories impacting International Business Machines this week:

International Business Machines Company Profile

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International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.

Further Reading

Analyst Recommendations for International Business Machines (NYSE:IBM)

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