Stifel Nicolaus Boosts International Business Machines (NYSE:IBM) Price Target to $246.00

International Business Machines (NYSE:IBM) had its price target hoisted by Stifel Nicolaus from $205.00 to $246.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other equities research analysts have also commented on IBM. Jefferies Financial Group raised their price target on shares of International Business Machines from $190.00 to $200.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Evercore ISI lifted their target price on International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, September 11th. Bank of America increased their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. UBS Group raised their price target on International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a report on Wednesday, September 4th. Finally, Royal Bank of Canada increased their target price on shares of International Business Machines from $211.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $200.82.

International Business Machines Trading Up 0.3 %

NYSE:IBM opened at $233.64 on Wednesday. The firm has a market capitalization of $214.62 billion, a P/E ratio of 26.46, a P/E/G ratio of 5.21 and a beta of 0.70. The business has a 50 day simple moving average of $210.57 and a 200 day simple moving average of $188.54. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines has a 12-month low of $135.87 and a 12-month high of $237.37.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. During the same quarter in the previous year, the company posted $2.18 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. Equities research analysts predict that International Business Machines will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio is presently 75.65%.

Institutional Investors Weigh In On International Business Machines

A number of institutional investors and hedge funds have recently modified their holdings of IBM. Bar Harbor Wealth Management increased its stake in International Business Machines by 0.5% in the 3rd quarter. Bar Harbor Wealth Management now owns 75,860 shares of the technology company’s stock worth $16,771,000 after purchasing an additional 362 shares in the last quarter. TruWealth Advisors LLC grew its position in International Business Machines by 1.4% during the 3rd quarter. TruWealth Advisors LLC now owns 125,819 shares of the technology company’s stock worth $27,816,000 after purchasing an additional 1,746 shares in the last quarter. Ellsworth Advisors LLC acquired a new stake in International Business Machines during the 3rd quarter valued at $239,000. Trust Co. of Vermont grew its holdings in shares of International Business Machines by 11.6% during the third quarter. Trust Co. of Vermont now owns 51,214 shares of the technology company’s stock valued at $11,322,000 after buying an additional 5,316 shares in the last quarter. Finally, Cardinal Capital Management lifted its stake in International Business Machines by 0.4% in the 3rd quarter. Cardinal Capital Management now owns 43,982 shares of the technology company’s stock worth $9,724,000 after acquiring an additional 170 shares in the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

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.