International Business Machines Corp. (NYSE:IBM)‘s stock had its “sector perform” rating reaffirmed by research analysts at Royal Bank of Canada in a research note issued to investors on Wednesday. They currently have a $180.00 price objective on the technology company’s stock, down from their previous price objective of $185.00. Royal Bank of Canada’s price objective would indicate a potential upside of 10.91% from the company’s previous close.
IBM has been the subject of several other research reports. Jefferies Group LLC restated a “sell” rating and issued a $135.00 price target (down previously from $145.00) on shares of International Business Machines Corp. in a research note on Wednesday. Cantor Fitzgerald restated a “hold” rating and issued a $166.00 price target on shares of International Business Machines Corp. in a research note on Thursday, April 13th. Sanford C. Bernstein restated a “market perform” rating and issued a $150.00 price target on shares of International Business Machines Corp. in a research note on Tuesday, April 11th. Vetr downgraded shares of International Business Machines Corp. from a “sell” rating to a “strong sell” rating and set a $152.23 price target for the company. in a research note on Monday. Finally, Citigroup Inc restated a “neutral” rating on shares of International Business Machines Corp. in a research note on Friday, January 20th. Seven research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $166.83.
Shares of International Business Machines Corp. (NYSE:IBM) opened at 162.30 on Wednesday. The stock has a 50 day moving average of $174.10 and a 200 day moving average of $167.58. The company has a market cap of $153.08 billion, a price-to-earnings ratio of 13.11 and a beta of 0.96. International Business Machines Corp. has a 12-month low of $142.50 and a 12-month high of $182.79. International Business Machines Corp. also saw some unusual options trading on Tuesday. Investors purchased 3,300 call options on the company. This is an increase of approximately 315% compared to the typical daily volume of 795 call options.
International Business Machines Corp. (NYSE:IBM) last announced its earnings results on Tuesday, April 18th. The technology company reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.35 by $0.03. The company had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.37 billion. International Business Machines Corp. had a return on equity of 78.32% and a net margin of 14.85%. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.35 earnings per share. On average, equities analysts expect that International Business Machines Corp. will post $13.78 earnings per share for the current fiscal year.
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In other International Business Machines Corp. news, insider Diane J. Gherson sold 5,000 shares of the business’s stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $179.18, for a total transaction of $895,900.00. Following the sale, the insider now directly owns 20,952 shares in the company, valued at approximately $3,754,179.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James J. Kavanaugh sold 559 shares of the business’s stock in a transaction dated Tuesday, February 7th. The stock was sold at an average price of $178.31, for a total transaction of $99,675.29. Following the sale, the insider now owns 29,856 shares in the company, valued at $5,323,623.36. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the company. Massey Quick & Co. LLC bought a new stake in International Business Machines Corp. during the fourth quarter worth approximately $108,000. Hemenway Trust Co LLC acquired a new stake in International Business Machines Corp. during the fourth quarter worth approximately $110,000. Kernodle & Katon Asset Management Group LLC increased its stake in International Business Machines Corp. by 5.2% in the third quarter. Kernodle & Katon Asset Management Group LLC now owns 687 shares of the technology company’s stock worth $109,000 after buying an additional 34 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. acquired a new stake in International Business Machines Corp. during the fourth quarter worth approximately $117,000. Finally, Capital Analysts LLC increased its stake in International Business Machines Corp. by 5.5% in the fourth quarter. Capital Analysts LLC now owns 726 shares of the technology company’s stock worth $121,000 after buying an additional 38 shares during the last quarter. Institutional investors own 58.65% of the company’s stock.
International Business Machines Corp. Company Profile
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.
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