International Business Machines (NYSE:IBM) Stock Price Up 1.3% After Analyst Upgrade

International Business Machines Co. (NYSE:IBM) shares were up 1.3% during trading on Wednesday after Royal Bank of Canada raised their price target on the stock from $211.00 to $250.00. Royal Bank of Canada currently has an outperform rating on the stock. International Business Machines traded as high as $231.67 and last traded at $231.53. Approximately 1,099,386 shares were traded during trading, a decline of 74% from the average daily volume of 4,197,195 shares. The stock had previously closed at $228.62.

Several other research firms have also issued reports on IBM. StockNews.com upgraded International Business Machines from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. DZ Bank downgraded International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a research report on Wednesday, October 2nd. UBS Group raised their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a research report on Wednesday, September 4th. Jefferies Financial Group lifted their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Finally, Bernstein Bank upped their target price on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a report on Thursday, October 3rd. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, International Business Machines has a consensus rating of “Hold” and a consensus price target of $198.41.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in International Business Machines by 6.7% during 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 buying an additional 5,546,855 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of International Business Machines by 151.6% during the 1st 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 purchasing an additional 2,118,165 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of International Business Machines by 306.3% during the second quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock valued at $242,441,000 after purchasing an additional 1,056,759 shares in the last quarter. Strategic Financial Concepts LLC grew its position in shares of International Business Machines by 12,282.2% during the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after purchasing an additional 468,567 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of International Business Machines by 6.4% during the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after purchasing an additional 444,698 shares in the last quarter. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Down 0.4 %

The stock has a market cap of $213.70 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. The stock has a 50-day moving average price of $206.79 and a two-hundred day moving average price of $187.34. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The firm had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a return on equity of 40.59% and a net margin of 13.52%. The business’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.18 earnings per share. Sell-side analysts forecast that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is 73.65%.

International Business Machines Company Profile

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.