International Business Machines Corp. (IBM) Receives New Coverage from Analysts at Pacific Crest

Pacific Crest started coverage on shares of International Business Machines Corp. (NYSE:IBM) in a research report report published on Thursday morning. The brokerage issued an equal weight rating and a $151.35 price objective on the technology company’s stock.

Several other analysts have also commented on IBM. Vetr upgraded shares of International Business Machines Corp. from a sell rating to a hold rating and set a $147.97 price target on the stock in a research report on Monday. Sanford C. Bernstein reiterated a neutral rating and issued a $150.00 price target on shares of International Business Machines Corp. in a research report on Monday. Wells Fargo & Co reiterated a market perform rating and issued a $162.50 price target on shares of International Business Machines Corp. in a research report on Tuesday, April 25th. Barclays PLC reiterated an underweight rating and issued a $141.00 price target (down from $144.00) on shares of International Business Machines Corp. in a research report on Saturday, April 22nd. Finally, Oppenheimer Holdings Inc. reiterated a hold rating on shares of International Business Machines Corp. in a research report on Saturday, January 21st. Seven investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $165.19.

Analyst Recommendations for International Business Machines Corp. (NYSE:IBM)

International Business Machines Corp. (NYSE:IBM) traded up 0.667% on Thursday, reaching $151.785. 3,412,418 shares of the company’s stock were exchanged. International Business Machines Corp. has a 12-month low of $142.50 and a 12-month high of $182.79. The company has a market cap of $142.60 billion, a P/E ratio of 12.482 and a beta of 0.96. The firm has a 50 day moving average of $162.25 and a 200-day moving average of $167.88.

International Business Machines Corp. (NYSE:IBM) last released its quarterly earnings results on Tuesday, April 18th. The technology company reported $2.38 EPS for the quarter, beating the consensus estimate of $2.35 by $0.03. The business had revenue of $18.16 billion for the quarter, compared to analyst estimates of $18.37 billion. International Business Machines Corp. had a net margin of 14.85% and a return on equity of 78.32%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.35 earnings per share. Equities analysts expect that International Business Machines Corp. will post $13.70 EPS for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Saturday, June 10th. Investors of record on Wednesday, May 10th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 3.98%. This is a positive change from International Business Machines Corp.’s previous quarterly dividend of $1.40. The ex-dividend date is Monday, May 8th. International Business Machines Corp.’s dividend payout ratio (DPR) is presently 45.16%.

In other news, Director James W. Owens purchased 1,718 shares of the stock in a transaction that occurred on Tuesday, May 16th. The stock was acquired at an average cost of $153.19 per share, with a total value of $263,180.42. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.08% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in International Business Machines Corp. by 3.7% in the first quarter. Vanguard Group Inc. now owns 59,986,222 shares of the technology company’s stock worth $10,446,001,000 after buying an additional 2,123,985 shares during the last quarter. BlackRock Inc. raised its stake in International Business Machines Corp. by 2,275.4% in the first quarter. BlackRock Inc. now owns 51,694,919 shares of the technology company’s stock worth $9,002,153,000 after buying an additional 49,518,677 shares during the last quarter. State Street Corp raised its stake in International Business Machines Corp. by 0.4% in the first quarter. State Street Corp now owns 51,198,962 shares of the technology company’s stock worth $8,915,788,000 after buying an additional 181,993 shares during the last quarter. Bank of New York Mellon Corp raised its stake in International Business Machines Corp. by 0.5% in the third quarter. Bank of New York Mellon Corp now owns 13,846,070 shares of the technology company’s stock worth $2,199,449,000 after buying an additional 64,290 shares during the last quarter. Finally, BlackRock Fund Advisors raised its stake in International Business Machines Corp. by 2.2% in the third quarter. BlackRock Fund Advisors now owns 13,751,747 shares of the technology company’s stock worth $2,184,465,000 after buying an additional 299,978 shares during the last quarter. 58.65% of the stock is owned by institutional investors and hedge funds.

About International Business Machines Corp.

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.

5 Day Chart for NYSE:IBM

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