International Business Machines (NYSE:IBM) Price Target Raised to $245.00

International Business Machines (NYSE:IBM) had its target price boosted by Jefferies Financial Group from $200.00 to $245.00 in a research report sent to investors on Monday, Benzinga reports. The firm currently has a hold rating on the technology company’s stock.

Several other analysts also recently issued reports on the stock. UBS Group boosted their target price on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research note on Wednesday, September 4th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. The Goldman Sachs Group upped their price target on shares of International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. DZ Bank downgraded shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research note on Wednesday, October 2nd. Finally, Bank of America upped their price target on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $205.71.

International Business Machines Stock Performance

IBM opened at $232.75 on Monday. The company has a market capitalization of $213.80 billion, a price-to-earnings ratio of 26.36, a price-to-earnings-growth ratio of 5.21 and a beta of 0.70. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. International Business Machines has a 1-year low of $136.05 and a 1-year high of $237.37. The business has a 50 day moving average price of $214.67 and a two-hundred day moving average price of $190.05.

International Business Machines (NYSE:IBM) last announced its 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 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 the consensus estimate of $15.62 billion. During the same period in the previous year, the business earned $2.18 EPS. The company’s revenue was up 1.9% on a year-over-year basis. Research analysts predict that International Business Machines will post 10.1 EPS for the current fiscal year.

International Business Machines Dividend Announcement

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

Institutional Investors Weigh In On International Business Machines

Several hedge funds have recently made changes to their positions in the stock. FPC Investment Advisory Inc. bought a new position in International Business Machines during the first quarter worth about $26,000. ESL Trust Services LLC acquired a new stake in shares of International Business Machines during the first quarter worth approximately $28,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Business Machines during the second quarter worth approximately $36,000. Wolff Wiese Magana LLC increased its holdings in shares of International Business Machines by 37.0% during the second quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock worth $38,000 after buying an additional 60 shares in the last quarter. Finally, Briaud Financial Planning Inc increased its holdings in shares of International Business Machines by 54.3% in the second quarter. Briaud Financial Planning Inc now owns 284 shares of the technology company’s stock valued at $49,000 after purchasing an additional 100 shares in the last quarter. 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.