International Business Machines (NYSE:IBM) Given New $250.00 Price Target at The Goldman Sachs Group

International Business Machines (NYSE:IBM) had its target price increased by The Goldman Sachs Group from $220.00 to $250.00 in a report published on Monday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other brokerages also recently issued reports on IBM. Evercore ISI raised their price target on shares of International Business Machines from $215.00 to $240.00 and gave the stock an outperform rating in a report on Wednesday, September 11th. Jefferies Financial Group boosted their target price on International Business Machines from $190.00 to $200.00 and gave the company a hold rating in a research report on Thursday, July 25th. Royal Bank of Canada raised their target price on International Business Machines from $200.00 to $211.00 and gave the company an outperform rating in a report on Thursday, July 25th. Stifel Nicolaus increased their price target on shares of International Business Machines from $190.00 to $205.00 and gave the stock a buy rating in a research report on Thursday, July 25th. Finally, UBS Group lifted their price objective on shares of International Business Machines from $130.00 to $145.00 and gave the company a sell rating in a report on Wednesday, September 4th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, International Business Machines presently has a consensus rating of Hold and an average price target of $191.93.

International Business Machines Trading Up 0.1 %

Shares of IBM stock opened at $221.07 on Monday. The stock’s fifty day moving average is $200.91 and its two-hundred day moving average is $185.34. The firm has a market capitalization of $203.08 billion, a P/E ratio of 25.04, a PEG ratio of 4.90 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a quick ratio of 1.08 and a current ratio of 1.12. International Business Machines has a fifty-two week low of $135.87 and a fifty-two week high of $224.15.

International Business Machines (NYSE:IBM) last posted its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $15.62 billion. During the same period in the prior year, the business earned $2.18 earnings per share. The business’s revenue was up 1.9% compared to the same quarter last year. Research analysts expect that International Business Machines will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently declared 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 yield of 3.02%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s dividend payout ratio (DPR) is 75.65%.

Institutional Investors Weigh In On International Business Machines

Several hedge funds and other institutional investors have recently bought and sold shares of IBM. FPC Investment Advisory Inc. purchased a new position in International Business Machines during the 1st quarter worth approximately $26,000. ESL Trust Services LLC purchased a new stake in International Business Machines in the 1st quarter valued at $28,000. Creekmur Asset Management LLC acquired a new stake in International Business Machines during the 4th quarter worth $29,000. Ables Iannone Moore & Associates Inc. acquired a new position in International Business Machines in the fourth quarter valued at $31,000. Finally, Financial Synergies Wealth Advisors Inc. raised its holdings in shares of International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock valued at $38,000 after buying an additional 123 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors and hedge funds.

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.