International Business Machines (NYSE:IBM) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of International Business Machines (NYSE:IBM) from a hold rating to a buy rating in a report issued on Tuesday morning.

IBM has been the subject of several other research reports. The Goldman Sachs Group raised their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Evercore ISI lifted their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. BMO Capital Markets increased their price objective on International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a research report on Thursday, October 24th. UBS Group lifted their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 target price on shares of International Business Machines in a research report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, International Business Machines has an average rating of “Hold” and a consensus target price of $208.12.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $204.99 on Tuesday. The stock has a market cap of $189.54 billion, a price-to-earnings ratio of 29.84, a PEG ratio of 4.74 and a beta of 0.71. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01. International Business Machines has a 12 month low of $152.13 and a 12 month high of $237.37. The stock’s 50 day moving average price is $218.79 and its 200 day moving average price is $193.48.

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, topping analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.08 billion. During the same quarter in the previous year, the business earned $2.20 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities research analysts anticipate that International Business Machines will post 10.11 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th will be paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is currently 97.23%.

Insider Activity

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s 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 completion of the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On International Business Machines

A number of hedge funds have recently added to or reduced their stakes in the company. Brophy Wealth Management LLC acquired a new position in shares of International Business Machines during the 3rd quarter worth $559,000. LRI Investments LLC boosted its holdings in International Business Machines by 7.5% in the third quarter. LRI Investments LLC now owns 4,416 shares of the technology company’s stock worth $923,000 after purchasing an additional 310 shares in the last quarter. Drucker Wealth 3.0 LLC increased its position in International Business Machines by 24.7% during the third quarter. Drucker Wealth 3.0 LLC now owns 1,905 shares of the technology company’s stock worth $421,000 after buying an additional 377 shares during the last quarter. SGL Investment Advisors Inc. bought a new position in International Business Machines during the third quarter valued at about $4,535,000. Finally, EWA LLC lifted its position in shares of International Business Machines by 6.6% in the third quarter. EWA LLC now owns 1,174 shares of the technology company’s stock worth $245,000 after buying an additional 73 shares during the last quarter. Institutional investors and hedge funds own 58.96% of the company’s stock.

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.