International Business Machines’ (IBM) “Outperform” Rating Reiterated at Royal Bank of Canada

International Business Machines (NYSE:IBM)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank of Canada in a research report issued on Monday,Benzinga reports. They currently have a $250.00 price objective on the technology company’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 12.66% from the stock’s current price.

Several other brokerages have also commented on IBM. BMO Capital Markets increased their price target on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research note on Thursday, October 24th. Bank of America increased their price target on shares of International Business Machines from $250.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group increased their price target on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Morgan Stanley increased their price target 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. Finally, Sanford C. Bernstein upped their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $220.73.

International Business Machines Stock Down 1.3 %

International Business Machines stock traded down $2.88 during trading hours on Monday, hitting $221.92. The company had a trading volume of 1,517,679 shares, compared to its average volume of 3,424,809. The firm’s fifty day moving average is $224.33 and its 200-day moving average is $212.82. International Business Machines has a fifty-two week low of $162.62 and a fifty-two week high of $239.35. The firm has a market capitalization of $205.19 billion, a P/E ratio of 32.37, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.07% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. raised its holdings in International Business Machines by 1,054.5% during the 3rd quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock worth $29,000 after purchasing an additional 116 shares during the last quarter. Hara Capital LLC bought a new stake in shares of International Business Machines in the 3rd quarter valued at $29,000. Avondale Wealth Management increased its stake in shares of International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after acquiring an additional 56 shares in the last quarter. Valued Wealth Advisors LLC grew its position in International Business Machines by 134.3% in the 4th quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock valued at $35,000 after purchasing an additional 90 shares during the period. Finally, Modus Advisors LLC acquired a new stake in International Business Machines in the 4th quarter valued at $40,000. Institutional investors 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.