JPMorgan Chase & Co. Issues Positive Forecast for International Business Machines (NYSE:IBM) Stock Price

International Business Machines (NYSE:IBMGet Free Report) had its price target lifted by JPMorgan Chase & Co. from $227.00 to $233.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 4.44% from the stock’s current price.

A number of other research firms also recently issued reports on IBM. The Goldman Sachs Group upped their price target on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. UBS Group increased their price target on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. BMO Capital Markets boosted their price objective on International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Jefferies Financial Group raised their price objective on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday, October 21st. Finally, DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $220.73.

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International Business Machines Stock Down 0.5 %

IBM opened at $223.09 on Thursday. International Business Machines has a 52 week low of $162.62 and a 52 week high of $239.35. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. The firm has a 50-day simple moving average of $223.60 and a two-hundred day simple moving average of $211.90. The company has a market capitalization of $206.28 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 4.80 and a beta of 0.74.

International Business Machines (NYSE:IBMGet Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.03. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.20 EPS. Analysts forecast that International Business Machines will post 10.16 earnings per share for the current fiscal year.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This trade represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On International Business Machines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBM. Ellenbecker Investment Group raised its stake in shares of International Business Machines by 2.3% in the third quarter. Ellenbecker Investment Group now owns 2,049 shares of the technology company’s stock worth $453,000 after purchasing an additional 46 shares during the last quarter. Goldstein Advisors LLC raised its position in International Business Machines by 4.0% during the 3rd quarter. Goldstein Advisors LLC now owns 1,217 shares of the technology company’s stock worth $269,000 after buying an additional 47 shares during the last quarter. Vertex Planning Partners LLC boosted its holdings in shares of International Business Machines by 3.6% in the 3rd quarter. Vertex Planning Partners LLC now owns 1,346 shares of the technology company’s stock valued at $298,000 after acquiring an additional 47 shares during the last quarter. Forza Wealth Management LLC increased its stake in shares of International Business Machines by 0.4% in the fourth quarter. Forza Wealth Management LLC now owns 13,153 shares of the technology company’s stock worth $2,891,000 after acquiring an additional 47 shares during the period. Finally, Foster Group Inc. lifted its position in International Business Machines by 2.4% during the fourth quarter. Foster Group Inc. now owns 2,025 shares of the technology company’s stock valued at $445,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

About International Business Machines

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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.

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