International Business Machines (NYSE:IBM) Price Target Raised to $270.00 at Jefferies Financial Group

International Business Machines (NYSE:IBM) had its price objective hoisted by Jefferies Financial Group from $245.00 to $270.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the technology company’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 4.56% from the company’s previous close.

IBM has been the topic of a number of other reports. UBS Group boosted their target price on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, January 14th. Morgan Stanley lifted their price target on International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a report on Thursday. Bernstein Bank upped their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a report on Thursday, October 3rd. JPMorgan Chase & Co. lifted their price target on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $225.53.

International Business Machines Trading Up 12.9 %

NYSE:IBM traded up $29.59 on Thursday, hitting $258.22. 15,347,853 shares of the stock were exchanged, compared to its average volume of 4,482,261. The company’s 50-day moving average price is $225.24 and its 200 day moving average price is $213.55. International Business Machines has a 52 week low of $162.62 and a 52 week high of $261.80. The stock has a market capitalization of $238.76 billion, a price-to-earnings ratio of 37.59, a P/E/G ratio of 4.78 and a beta of 0.74. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. On average, equities research analysts forecast that International Business Machines will post 10.16 earnings per share for the current year.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On International Business Machines

Institutional investors have recently made changes to their positions in the stock. State Street Corp increased its position in shares of International Business Machines by 2.2% during the third quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock valued at $12,307,940,000 after buying an additional 1,200,803 shares during the period. FMR LLC lifted its stake in International Business Machines by 6.0% in the 3rd quarter. FMR LLC now owns 5,195,933 shares of the technology company’s stock worth $1,148,717,000 after purchasing an additional 294,276 shares in the last quarter. Swiss National Bank boosted its holdings in International Business Machines by 0.5% in the 3rd quarter. Swiss National Bank now owns 2,726,700 shares of the technology company’s stock valued at $602,819,000 after purchasing an additional 12,400 shares during the period. International Assets Investment Management LLC increased its holdings in shares of International Business Machines by 20,324.5% in the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after purchasing an additional 2,702,340 shares during the period. Finally, Holocene Advisors LP purchased a new stake in shares of International Business Machines in the third quarter worth $573,306,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

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.