Evercore ISI Boosts International Business Machines (NYSE:IBM) Price Target to $240.00

International Business Machines (NYSE:IBM) had its target price lifted by Evercore ISI from $215.00 to $240.00 in a research report report published on Wednesday, Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Other equities analysts have also issued research reports about the stock. Hsbc Global Res upgraded shares of International Business Machines to a moderate sell rating in a research report on Friday, July 26th. The Goldman Sachs Group began coverage on shares of International Business Machines in a research report on Monday, June 24th. They set a buy rating and a $200.00 price objective for the company. Stifel Nicolaus raised their price objective on shares of International Business Machines from $190.00 to $205.00 and gave the company a buy rating in a research report on Thursday, July 25th. StockNews.com raised shares of International Business Machines from a hold rating to a buy rating in a research note on Wednesday, June 19th. Finally, Jefferies Financial Group upped 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. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $188.60.

International Business Machines Stock Performance

Shares of IBM opened at $214.79 on Wednesday. The firm has a 50-day moving average price of $192.83 and a 200 day moving average price of $183.40. The firm has a market capitalization of $197.85 billion, a PE ratio of 24.33, a P/E/G ratio of 4.67 and a beta of 0.70. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. International Business Machines has a 52-week low of $135.87 and a 52-week high of $216.09.

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

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a yield of 3.11%. International Business Machines’s dividend payout ratio is currently 75.65%.

Hedge Funds Weigh In On International Business Machines

Hedge funds have recently added to or reduced their stakes in the company. FPC Investment Advisory Inc. acquired a new position in International Business Machines in the first quarter worth approximately $26,000. ESL Trust Services LLC acquired a new position in International Business Machines in the first quarter worth approximately $28,000. Creekmur Asset Management LLC acquired a new position in International Business Machines in the fourth quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in International Business Machines in the fourth quarter worth approximately $31,000. Finally, Financial Synergies Wealth Advisors Inc. grew its holdings in 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 valued at $38,000 after purchasing an additional 123 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

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.