International Business Machines (NYSE:IBM) Price Target Raised to $250.00 at Royal Bank of Canada

International Business Machines (NYSE:IBM) had its price target lifted by Royal Bank of Canada from $211.00 to $250.00 in a research report report published on Thursday, Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Several other brokerages have also recently commented on IBM. StockNews.com upgraded shares of International Business Machines from a hold rating to a buy rating in a research report on Wednesday, June 19th. The Goldman Sachs Group increased their target price on International Business Machines from $220.00 to $250.00 and gave the company a buy rating in a research note on Monday, September 30th. Stifel Nicolaus boosted their target price on International Business Machines from $190.00 to $205.00 and gave the stock a buy rating in a research report on Thursday, July 25th. Bank of America increased their price target on shares of International Business Machines from $209.00 to $250.00 and gave the company a buy rating in a research report on Wednesday. Finally, DZ Bank downgraded shares of International Business Machines from a buy rating to a hold rating and set a $215.00 target price for the company. in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $198.41.

International Business Machines Trading Down 0.6 %

IBM stock traded down $1.46 during trading on Thursday, hitting $231.56. The company had a trading volume of 534,132 shares, compared to its average volume of 4,192,925. The firm has a 50-day moving average price of $206.79 and a 200-day moving average price of $187.34. International Business Machines has a 12 month low of $135.87 and a 12 month high of $235.83. The company has a quick ratio of 1.08, a current ratio of 1.12 and a debt-to-equity ratio of 2.20. The stock has a market cap of $213.30 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 5.21 and a beta of 0.70.

International Business Machines (NYSE:IBM) last issued 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 return on equity of 40.59% and a net margin of 13.52%. The business had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the prior year, the firm posted $2.18 earnings per share. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, analysts predict that International Business Machines will post 10.1 earnings per share for the current year.

International Business Machines Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a dividend of $1.67 per share. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a yield of 2.88%. International Business Machines’s payout ratio is currently 73.65%.

Institutional Investors Weigh In On International Business Machines

A number of large investors have recently added to or reduced their stakes in IBM. FPC Investment Advisory Inc. bought a new stake in International Business Machines during the first quarter worth about $26,000. ESL Trust Services LLC bought a new position in International Business Machines in the first quarter valued at approximately $28,000. Creekmur Asset Management LLC acquired a new position in International Business Machines during the fourth quarter valued at approximately $29,000. Ables Iannone Moore & Associates Inc. bought a new stake in International Business Machines during the fourth quarter worth $31,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Business Machines in the 2nd quarter valued at $36,000. Institutional investors and hedge funds 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.