Bank of America Boosts International Business Machines (NYSE:IBM) Price Target to $250.00

International Business Machines (NYSE:IBM) had its target price upped by equities researchers at Bank of America from $209.00 to $250.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Bank of America‘s price objective indicates a potential upside of 7.27% from the stock’s previous close.

IBM has been the subject of a number of other research reports. Stifel Nicolaus lifted their price objective on International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Jefferies Financial Group boosted their price target on International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Royal Bank of Canada raised their price objective on shares of International Business Machines from $200.00 to $211.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Bernstein Bank boosted their target price on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Finally, BMO Capital Markets raised their price target on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $198.41.

International Business Machines Stock Down 0.5 %

International Business Machines stock opened at $233.05 on Wednesday. International Business Machines has a fifty-two week low of $135.87 and a fifty-two week high of $235.83. The company has a market cap of $214.08 billion, a PE ratio of 26.39, a PEG ratio of 4.90 and a beta of 0.70. 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’s 50-day simple moving average is $205.92 and its two-hundred day simple moving average is $187.02.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results 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 company had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. International Business Machines’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm posted $2.18 EPS. Equities analysts anticipate that International Business Machines will post 10.1 EPS for the current year.

Institutional Trading of International Business Machines

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock valued at $16,833,642,000 after purchasing an additional 5,546,855 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock valued at $671,352,000 after buying an additional 2,118,165 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of International Business Machines by 306.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock valued at $242,441,000 after buying an additional 1,056,759 shares during the period. Strategic Financial Concepts LLC lifted its stake in International Business Machines by 12,282.2% during the 2nd quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock worth $817,000 after acquiring an additional 468,567 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in International Business Machines by 6.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after acquiring an additional 444,698 shares during the period. 58.96% of the stock is currently owned by hedge funds and other 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.