International Business Machines (NYSE:IBM) Coverage Initiated at Wedbush

Research analysts at Wedbush started coverage on shares of International Business Machines (NYSE:IBM) in a research note issued on Monday,Finviz reports. The firm set an “outperform” rating on the technology company’s stock.

IBM has been the topic of a number of other reports. Jefferies Financial Group increased their price objective on shares of International Business Machines from $245.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday. BMO Capital Markets increased their price objective on shares of International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a research note on Thursday. Bank of America increased their price objective on shares of International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley increased their price objective on shares of International Business Machines from $217.00 to $228.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $225.53.

International Business Machines Stock Performance

Shares of IBM stock traded up $0.15 on Monday, hitting $255.85. The company’s stock had a trading volume of 955,538 shares, compared to its average volume of 4,439,684. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.00 and a current ratio of 1.04. The stock’s 50 day moving average is $226.61 and its 200-day moving average is $214.76. International Business Machines has a fifty-two week low of $162.62 and a fifty-two week high of $261.80. The company has a market capitalization of $236.57 billion, a PE ratio of 39.90, a PEG ratio of 5.63 and a beta of 0.74.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, beating the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Equities research analysts expect that International Business Machines will post 10.73 earnings per share for the current fiscal year.

Insider Activity at International Business Machines

In other International Business Machines 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 transaction of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares in the company, valued at approximately $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 can be accessed through this link. 0.07% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Czech National Bank grew its position in shares of International Business Machines by 7.2% during the 3rd quarter. Czech National Bank now owns 187,647 shares of the technology company’s stock worth $41,485,000 after buying an additional 12,599 shares during the period. GAMMA Investing LLC grew its position in shares of International Business Machines by 44.6% during the 3rd quarter. GAMMA Investing LLC now owns 13,551 shares of the technology company’s stock worth $2,996,000 after buying an additional 4,181 shares during the period. Azzad Asset Management Inc. ADV grew its position in shares of International Business Machines by 3.4% during the 3rd quarter. Azzad Asset Management Inc. ADV now owns 11,827 shares of the technology company’s stock worth $2,615,000 after buying an additional 384 shares during the period. Everpar Advisors LLC grew its position in shares of International Business Machines by 19.6% during the 3rd quarter. Everpar Advisors LLC now owns 1,452 shares of the technology company’s stock worth $321,000 after buying an additional 238 shares during the period. Finally, Consilio Wealth Advisors LLC acquired a new stake in shares of International Business Machines during the 3rd quarter worth approximately $218,000. Institutional investors own 58.96% of the company’s stock.

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.