International Business Machines (NYSE:IBM) PT Raised to $217.00

International Business Machines (NYSE:IBM) had its price target increased by equities researchers at Morgan Stanley from $182.00 to $217.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s target price points to a potential downside of 6.55% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target for the company. in a report on Wednesday, October 2nd. UBS Group lifted their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Bank of America lifted their price target on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Evercore ISI increased their target price on shares of International Business Machines from $215.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, September 11th. Finally, Stifel Nicolaus boosted their price objective on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $203.06.

International Business Machines Stock Performance

NYSE:IBM opened at $232.22 on Thursday. The stock’s 50-day simple moving average is $212.19 and its 200 day simple moving average is $189.15. International Business Machines has a twelve month low of $135.87 and a twelve month high of $237.37. 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 firm has a market capitalization of $213.32 billion, a PE ratio of 26.30, a price-to-earnings-growth 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 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. During the same quarter in the previous year, the business earned $2.18 earnings per share. International Business Machines’s revenue was up 1.9% compared to the same quarter last year. On average, analysts anticipate that International Business Machines will post 10.1 EPS for the current fiscal year.

Institutional Investors Weigh In On International Business Machines

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of International Business Machines by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 88,152,714 shares of the technology company’s stock worth $16,833,642,000 after acquiring an additional 5,546,855 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of International Business Machines by 151.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,515,666 shares of the technology company’s stock worth $671,352,000 after buying an additional 2,118,165 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of International Business Machines by 306.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,401,798 shares of the technology company’s stock worth $242,441,000 after purchasing an additional 1,056,759 shares during the period. Strategic Financial Concepts LLC increased its holdings in International Business Machines by 12,282.2% in the second quarter. Strategic Financial Concepts LLC now owns 472,382 shares of the technology company’s stock valued at $817,000 after buying an additional 468,567 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in International Business Machines by 6.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock worth $1,274,074,000 after purchasing an additional 444,698 shares during the period. 58.96% of the stock is owned by institutional investors.

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.