International Business Machines Corp. (IBM) Receives Market Perform Rating from Wells Fargo & Co

Wells Fargo & Co reiterated their market perform rating on shares of International Business Machines Corp. (NYSE:IBM) in a research report sent to investors on Wednesday, April 19th. They currently have a $162.50 target price on the technology company’s stock, down from their prior target price of $180.00.

Other equities research analysts have also issued reports about the stock. Goldman Sachs Group Inc lowered their target price on shares of International Business Machines Corp. from $175.00 to $170.00 and set a neutral rating on the stock in a research note on Wednesday, April 19th. Bank of America Corp reissued a buy rating and set a $200.00 target price (up from $185.00) on shares of International Business Machines Corp. in a research note on Thursday, February 23rd. Morgan Stanley increased their target price on shares of International Business Machines Corp. from $187.00 to $212.00 and gave the stock an overweight rating in a research note on Thursday, March 16th. Cantor Fitzgerald reissued a neutral rating and set a $156.00 target price on shares of International Business Machines Corp. in a research note on Friday, January 20th. Finally, BMO Capital Markets reissued a market perform rating and set a $170.00 target price on shares of International Business Machines Corp. in a research note on Monday, January 23rd. Eight equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $164.98.

Shares of International Business Machines Corp. (NYSE:IBM) opened at 152.03 on Wednesday. International Business Machines Corp. has a 52 week low of $142.50 and a 52 week high of $182.79. The firm has a 50 day moving average price of $160.37 and a 200 day moving average price of $168.10. The company has a market capitalization of $142.83 billion, a price-to-earnings ratio of 12.50 and a beta of 0.96.

International Business Machines Corp. (NYSE:IBM) last posted its quarterly earnings results on Tuesday, April 18th. The technology company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.35 by $0.03. International Business Machines Corp. had a net margin of 14.85% and a return on equity of 78.32%. The company had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.37 billion. During the same period in the prior year, the company earned $2.35 earnings per share. The firm’s revenue was down 2.8% on a year-over-year basis. Equities analysts forecast that International Business Machines Corp. will post $13.70 EPS for the current 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 paid a dividend of $1.50 per share. This is a positive change 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%. The ex-dividend date is Monday, May 8th. International Business Machines Corp.’s dividend payout ratio (DPR) 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, for a total transaction of $263,180.42. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.08% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. CKW Financial Group raised its position in International Business Machines Corp. by 0.4% in the third quarter. CKW Financial Group now owns 815 shares of the technology company’s stock worth $129,000 after buying an additional 3 shares in the last quarter. Independence Advisors LLC raised its position in International Business Machines Corp. by 0.3% in the first quarter. Independence Advisors LLC now owns 1,937 shares of the technology company’s stock worth $337,000 after buying an additional 5 shares in the last quarter. Jackson Grant Investment Advisers Inc. raised its position in International Business Machines Corp. by 0.8% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 737 shares of the technology company’s stock worth $122,000 after buying an additional 6 shares in the last quarter. HCR Wealth Advisors raised its position in International Business Machines Corp. by 0.3% in the first quarter. HCR Wealth Advisors now owns 2,107 shares of the technology company’s stock worth $367,000 after buying an additional 6 shares in the last quarter. Finally, K.J. Harrison & Partners Inc raised its position in International Business Machines Corp. by 0.4% in the first quarter. K.J. Harrison & Partners Inc now owns 1,955 shares of the technology company’s stock worth $340,000 after buying an additional 7 shares in the last quarter. Institutional investors own 58.65% of the company’s stock.

International Business Machines Corp. Company Profile

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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