International Business Machines (NYSE:IBM) Given New $246.00 Price Target at Stifel Nicolaus

International Business Machines (NYSE:IBM) had its price objective raised by Stifel Nicolaus from $205.00 to $246.00 in a research report report published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other research analysts also recently issued reports on the company. Bernstein Bank lifted their price target 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. The Goldman Sachs Group lifted their target price on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Jefferies Financial Group increased their price target on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, July 25th. UBS Group lifted 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. Finally, Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $203.06.

International Business Machines Stock Performance

IBM stock opened at $232.20 on Wednesday. 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 has a 1-year low of $135.87 and a 1-year high of $237.37. The business has a 50-day moving average price of $212.19 and a 200 day moving average price of $189.15. The company has a market capitalization of $213.30 billion, a P/E ratio of 26.30, a PEG ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.27. The firm had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.18 EPS. As a group, equities research analysts forecast that International Business Machines will post 10.1 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 2.88%. International Business Machines’s payout ratio is presently 75.65%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. FPC Investment Advisory Inc. acquired a new position in International Business Machines in the 1st quarter worth approximately $26,000. ESL Trust Services LLC acquired a new stake in shares of International Business Machines in the first quarter worth $28,000. Financial Synergies Wealth Advisors Inc. raised its holdings in shares of International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after purchasing an additional 123 shares during the last quarter. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of International Business Machines during the second quarter worth $36,000. Finally, Wolff Wiese Magana LLC lifted its position in International Business Machines by 37.0% during the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after purchasing an additional 60 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

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.