International Business Machines (NYSE:IBM) Stock Price Expected to Rise, UBS Group Analyst Says

International Business Machines (NYSE:IBM) had its price target lifted by stock analysts at UBS Group from $150.00 to $160.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “sell” rating on the technology company’s stock. UBS Group’s price target indicates a potential downside of 26.40% from the stock’s current price.

Several other brokerages have also issued reports on IBM. BMO Capital Markets lifted their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. DZ Bank lowered shares of 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. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $250.00 price target on shares of International Business Machines in a report on Thursday, October 24th. Finally, Morgan Stanley lifted their price target on shares of International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $215.81.

International Business Machines Stock Performance

Shares of IBM stock opened at $217.39 on Tuesday. The firm has a market cap of $201.01 billion, a price-to-earnings ratio of 31.64, a PEG ratio of 5.18 and a beta of 0.74. The company’s 50 day moving average is $222.14 and its 200 day moving average is $209.84. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines has a 52-week low of $162.62 and a 52-week high of $239.35.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.03. The company had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $2.20 earnings per share. On average, sell-side analysts anticipate that International Business Machines will post 10.12 EPS for the current fiscal year.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.07% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IBM. International Assets Investment Management LLC raised its position in shares of International Business Machines by 20,324.5% in the third quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after acquiring an additional 2,702,340 shares during the period. Holocene Advisors LP acquired a new position in shares of International Business Machines during the 3rd quarter worth about $573,306,000. State Street Corp raised its position in shares of International Business Machines by 2.2% during the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after purchasing an additional 1,200,803 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of International Business Machines by 306.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after purchasing an additional 1,056,759 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its position in shares of International Business Machines by 587.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 628,213 shares of the technology company’s stock worth $134,262,000 after purchasing an additional 536,785 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.