International Business Machines (NYSE:IBM) Now Covered by Wedbush

Research analysts at Wedbush initiated coverage on shares of International Business Machines (NYSE:IBM) in a research report issued on Monday, Marketbeat reports. The brokerage set an “outperform” rating on the technology company’s stock.

Several other research analysts also recently weighed in on IBM. BMO Capital Markets upped their target price on shares of International Business Machines from $260.00 to $280.00 and gave the company a “market perform” rating in a research note on Thursday, January 30th. UBS Group upped their price objective on shares of International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, January 14th. Bank of America lifted their target price on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. increased their price target on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, Stifel Nicolaus lifted their price objective on International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $225.53.

International Business Machines Stock Up 1.4 %

Shares of International Business Machines stock opened at $264.30 on Monday. The company has a fifty day moving average price of $227.30 and a 200 day moving average price of $215.29. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines has a twelve month low of $162.62 and a twelve month high of $265.25. The stock has a market cap of $244.38 billion, a price-to-earnings ratio of 41.23, a price-to-earnings-growth ratio of 5.63 and a beta of 0.76.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. Equities research analysts forecast that International Business Machines will post 10.73 earnings per share for the current fiscal year.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction that occurred 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 sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. This represents a 12.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.07% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in IBM. Meeder Asset Management Inc. grew its position in shares of International Business Machines by 40.9% during the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after acquiring an additional 166 shares during the last quarter. Brady Martz Wealth Solutions LLC bought a new position in International Business Machines in the 4th quarter worth about $1,940,000. Tranquilli Financial Advisor LLC acquired a new stake in shares of International Business Machines in the fourth quarter valued at approximately $373,000. Philip James Wealth Mangement LLC bought a new stake in shares of International Business Machines during the third quarter valued at approximately $5,117,000. Finally, Nordea Investment Management AB boosted its position in shares of International Business Machines by 6.5% during the fourth quarter. Nordea Investment Management AB now owns 75,638 shares of the technology company’s stock worth $16,615,000 after buying an additional 4,625 shares during the period. 58.96% of the stock is currently owned by institutional investors.

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.