International Business Machines Corp. (IBM) Stock Rating Reaffirmed by Wells Fargo & Co

Wells Fargo & Co reaffirmed their market perform rating on shares of International Business Machines Corp. (NYSE:IBM) in a research note released on Wednesday, April 19th. The firm currently has a $162.50 target price on the technology company’s stock, down from their previous target price of $180.00.

A number of other research firms have also weighed in on IBM. Bank of America Corp reissued a buy rating and issued a $200.00 price objective (up previously from $185.00) on shares of International Business Machines Corp. in a research report on Thursday, February 23rd. Cowen and Company reissued an underperform rating and issued a $125.00 price objective on shares of International Business Machines Corp. in a research report on Wednesday, March 8th. Drexel Hamilton boosted their price objective on shares of International Business Machines Corp. from $186.00 to $215.00 and gave the company a buy rating in a research report on Tuesday, March 7th. Royal Bank of Canada boosted their price objective on shares of International Business Machines Corp. from $170.00 to $185.00 and gave the company a sector perform rating in a research report on Monday, March 6th. Finally, Sanford C. Bernstein boosted their target price on shares of International Business Machines Corp. to $150.00 in a report on Monday, March 6th. Eight research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $164.98.

International Business Machines Corp. (NYSE:IBM) opened at 152.03 on Wednesday. The firm has a market cap of $142.83 billion, a P/E ratio of 12.50 and a beta of 0.96. The company’s 50 day moving average is $160.37 and its 200 day moving average is $168.10. International Business Machines Corp. has a 52-week low of $142.50 and a 52-week high of $182.79.

International Business Machines Corp. (NYSE:IBM) last posted its quarterly earnings data on Tuesday, April 18th. The technology company reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.35 by $0.03. The business had revenue of $18.16 billion during the quarter, compared to analyst estimates of $18.37 billion. International Business Machines Corp. had a net margin of 14.85% and a return on equity of 78.32%. The company’s revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.35 earnings per share. Equities research analysts forecast that International Business Machines Corp. will post $13.70 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Saturday, June 10th. Investors of record on Wednesday, May 10th will be issued a $1.50 dividend. The ex-dividend date is Monday, May 8th. This is a boost from International Business Machines Corp.’s previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a yield of 3.95%. International Business Machines Corp.’s dividend payout ratio is currently 45.16%.

In related news, Director James W. Owens purchased 1,718 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were purchased at an average cost of $153.19 per share, with a total value of $263,180.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.08% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Massey Quick & Co. LLC bought a new stake in International Business Machines Corp. during the fourth quarter valued at about $108,000. Kernodle & Katon Asset Management Group LLC boosted its stake in International Business Machines Corp. by 5.2% in the third quarter. Kernodle & Katon Asset Management Group LLC now owns 687 shares of the technology company’s stock valued at $109,000 after buying an additional 34 shares in the last quarter. Hemenway Trust Co LLC bought a new stake in International Business Machines Corp. during the fourth quarter valued at about $110,000. Thomas J. Herzfeld Advisors Inc. bought a new stake in International Business Machines Corp. during the fourth quarter valued at about $117,000. Finally, Capital Analysts LLC boosted its stake in International Business Machines Corp. by 5.5% in the fourth quarter. Capital Analysts LLC now owns 726 shares of the technology company’s stock valued at $121,000 after buying an additional 38 shares in the last quarter. 58.65% of the stock is currently owned by hedge funds and other institutional investors.

About International Business Machines Corp.

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.

12 Month Chart for NYSE:IBM

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