International Business Machines (NYSE:IBM) Upgraded to Strong-Buy at Erste Group Bank

Erste Group Bank upgraded shares of International Business Machines (NYSE:IBM) from a hold rating to a strong-buy rating in a research note released on Monday,Zacks.com reports.

Several other research analysts have also recently issued reports on the stock. Wedbush initiated coverage on shares of International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating for the company. The Goldman Sachs Group reiterated a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. StockNews.com lowered shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Saturday. Oppenheimer started coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price target for the company. Finally, Bank of America lifted their price target 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, January 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, International Business Machines currently has an average rating of “Hold” and an average price target of $231.44.

International Business Machines Stock Down 2.4 %

Shares of International Business Machines stock opened at $246.80 on Monday. 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 has a market capitalization of $228.85 billion, a PE ratio of 38.50, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. International Business Machines has a 52-week low of $162.62 and a 52-week high of $266.45. The company has a 50-day simple moving average of $245.29 and a two-hundred day simple moving average of $229.16.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping 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%. On average, analysts anticipate that International Business Machines will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a dividend of $1.67 per share. The ex-dividend date was Monday, February 10th. This represents a $6.68 annualized dividend and a yield of 2.71%. International Business Machines’s dividend payout ratio (DPR) is 104.21%.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $253.01, for a total transaction of $6,715,644.43. Following the transaction, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On International Business Machines

Large investors have recently added to or reduced their stakes in the company. Compass Financial Services Inc purchased a new position in International Business Machines during the fourth quarter valued at approximately $26,000. Vision Financial Markets LLC purchased a new position in shares of International Business Machines in the fourth quarter worth $31,000. Avondale Wealth Management lifted its holdings in shares of International Business Machines by 56.0% in the fourth quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock worth $34,000 after buying an additional 56 shares in the last quarter. Valued Wealth Advisors LLC lifted its holdings in shares of International Business Machines by 134.3% in the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after buying an additional 90 shares in the last quarter. Finally, Rialto Wealth Management LLC purchased a new position in shares of International Business Machines in the fourth quarter worth $35,000. Hedge funds and other 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.