International Business Machines (NYSE:IBM) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of International Business Machines (NYSE:IBM) in a research report report published on Monday,Benzinga reports. Royal Bank of Canada currently has a $250.00 price target on the technology company’s stock.

Several other equities analysts have also recently weighed in on the stock. UBS Group raised their target price on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, January 14th. DZ Bank lowered International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective for the company. in a research report on Wednesday, October 2nd. StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Stifel Nicolaus increased their price target on International Business Machines from $205.00 to $246.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Finally, Sanford C. Bernstein lifted their price objective on International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a research note on Friday, January 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $220.73.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $224.06 on Monday. The stock has a market cap of $207.18 billion, a PE ratio of 32.61, a price-to-earnings-growth ratio of 4.78 and a beta of 0.74. International Business Machines has a 1 year low of $162.62 and a 1 year high of $239.35. The firm has a fifty day moving average price of $224.33 and a 200-day moving average price of $212.82. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.06 and a quick ratio of 1.01.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a $1.67 dividend. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s payout ratio is presently 97.23%.

Insider Activity at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This trade represents a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.07% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On International Business Machines

A number of hedge funds and other institutional investors have recently made changes to their positions in IBM. Consolidated Portfolio Review Corp grew its holdings in International Business Machines by 797.4% during the 4th quarter. Consolidated Portfolio Review Corp now owns 8,696 shares of the technology company’s stock worth $1,912,000 after acquiring an additional 7,727 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of International Business Machines during the fourth quarter valued at approximately $274,000. Telos Capital Management Inc. increased its holdings in International Business Machines by 72.9% during the fourth quarter. Telos Capital Management Inc. now owns 6,280 shares of the technology company’s stock valued at $1,381,000 after buying an additional 2,647 shares during the period. GHP Investment Advisors Inc. raised its stake in International Business Machines by 1.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 78,694 shares of the technology company’s stock worth $17,299,000 after buying an additional 1,031 shares in the last quarter. Finally, Argus Investors Counsel Inc. lifted its holdings in International Business Machines by 5.7% during the fourth quarter. Argus Investors Counsel Inc. now owns 2,016 shares of the technology company’s stock worth $443,000 after buying an additional 109 shares during the period. Institutional investors own 58.96% of the company’s stock.

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.