International Business Machines (NYSE:IBM) Cut to “Hold” at StockNews.com

International Business Machines (NYSE:IBM) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Several other research analysts also recently weighed in on the stock. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research note on Wednesday, October 2nd. Morgan Stanley decreased their target price on shares of International Business Machines from $217.00 to $208.00 and set an “equal weight” rating for the company in a research note on Thursday. Royal Bank of Canada restated an “outperform” rating and issued a $250.00 target price on shares of International Business Machines in a research note on Thursday. Jefferies Financial Group increased their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a research note on Monday. Finally, Hsbc Global Res upgraded shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Trading Down 1.7 %

Shares of International Business Machines stock traded down $3.82 during trading hours on Friday, hitting $214.57. The company’s stock had a trading volume of 8,480,090 shares, compared to its average volume of 4,245,906. International Business Machines has a 1-year low of $141.58 and a 1-year high of $237.37. The business has a fifty day moving average of $215.16 and a 200 day moving average of $190.25. The company has a market capitalization of $197.10 billion, a PE ratio of 24.30, a P/E/G ratio of 5.21 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 (NYSE:IBM) last announced its earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.08 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.20 earnings per share. As a group, equities analysts forecast that International Business Machines will post 10.1 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. FPC Investment Advisory Inc. bought a new position in shares of International Business Machines in the 1st quarter worth about $26,000. ESL Trust Services LLC acquired a new stake in shares of International Business Machines in the 1st quarter worth about $28,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Business Machines in the 2nd quarter worth about $36,000. Wolff Wiese Magana LLC increased its holdings in shares of International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after acquiring an additional 60 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of International Business Machines by 47.2% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 240 shares of the technology company’s stock worth $53,000 after acquiring an additional 77 shares during the period. 58.96% of the stock is currently owned by 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.