International Business Machines (NYSE:IBM) Price Target Raised to $260.00

International Business Machines (NYSE:IBM) had its target price hoisted by stock analysts at Bank of America from $250.00 to $260.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Bank of America‘s price objective would suggest a potential upside of 15.72% from the company’s current price.

IBM has been the subject of a number of other research reports. Morgan Stanley raised their price objective on shares of International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. lifted their price target on International Business Machines from $227.00 to $233.00 and gave the company a “neutral” rating in a report on Thursday. Royal Bank of Canada reissued an “outperform” rating and set a $250.00 price target on shares of International Business Machines in a research report on Thursday, October 24th. UBS Group raised their price objective on International Business Machines from $150.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, January 14th. Finally, BMO Capital Markets upped their target price on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $220.73.

International Business Machines Stock Down 0.6 %

Shares of International Business Machines stock opened at $224.69 on Thursday. 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 12-month low of $162.62 and a 12-month high of $239.35. The firm has a market capitalization of $207.75 billion, a PE ratio of 32.71, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74. The stock’s fifty day moving average is $223.94 and its 200-day moving average is $212.00.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The company had revenue of $14.97 billion during 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%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.20 earnings per share. Equities analysts anticipate that International Business Machines will post 10.16 earnings per share for the current year.

Insider Buying and Selling at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On International Business Machines

Several institutional investors and hedge funds have recently added to or reduced their stakes in IBM. Hazlett Burt & Watson Inc. raised its position in shares of International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after purchasing an additional 116 shares during the period. Hara Capital LLC acquired a new position in International Business Machines in the 3rd quarter valued at $29,000. Avondale Wealth Management raised its holdings in International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after acquiring an additional 56 shares during the period. Valued Wealth Advisors LLC lifted its position in International Business Machines by 134.3% during the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after acquiring an additional 90 shares during the last quarter. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines during the second quarter valued at about $36,000. 58.96% of the stock is currently owned by institutional investors and hedge funds.

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.