International Business Machines Co. (NYSE:IBM) Receives Average Recommendation of “Hold” from Brokerages

Shares of International Business Machines Co. (NYSE:IBM) have been assigned a consensus rating of “Hold” from the seventeen brokerages that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $198.41.

A number of research firms have recently weighed in on IBM. Bank of America lifted their price target on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday. BMO Capital Markets lifted their target price on International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, July 25th. The Goldman Sachs Group increased their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Stifel Nicolaus lifted their price objective on shares of International Business Machines from $190.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, 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.

Institutional Investors Weigh In On International Business Machines

Several hedge funds have recently modified their holdings of the stock. Sound Income Strategies LLC raised its holdings in International Business Machines by 6.2% during the 3rd quarter. Sound Income Strategies LLC now owns 111,647 shares of the technology company’s stock worth $24,683,000 after buying an additional 6,524 shares during the period. CVA Family Office LLC increased its position in shares of International Business Machines by 4.5% in the third quarter. CVA Family Office LLC now owns 1,876 shares of the technology company’s stock worth $415,000 after acquiring an additional 80 shares in the last quarter. McGlone Suttner Wealth Management Inc. raised its holdings in shares of International Business Machines by 28.5% during the third quarter. McGlone Suttner Wealth Management Inc. now owns 3,040 shares of the technology company’s stock valued at $672,000 after acquiring an additional 674 shares during the period. Bright Financial Advisors Inc. lifted its position in shares of International Business Machines by 10.8% in the 3rd quarter. Bright Financial Advisors Inc. now owns 1,714 shares of the technology company’s stock valued at $379,000 after acquiring an additional 167 shares in the last quarter. Finally, Crestmont Private Wealth LLC purchased a new position in International Business Machines during the 3rd quarter worth approximately $239,000. 58.96% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Trading Down 0.5 %

NYSE:IBM opened at $233.05 on Friday. International Business Machines has a 12-month low of $135.87 and a 12-month high of $235.83. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The business has a 50 day simple moving average of $205.92 and a 200 day simple moving average of $187.02. The firm has a market capitalization of $214.08 billion, a P/E ratio of 26.39, a P/E/G ratio of 4.90 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 EPS for the quarter, topping the consensus estimate of $2.16 by $0.27. The business had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.18 earnings per share. Equities research analysts predict that International Business Machines will post 10.1 EPS for the current year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

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.