International Business Machines (NYSE:IBM – Free Report) had its price objective hoisted by Stifel Nicolaus from $144.00 to $183.00 in a research note issued to investors on Monday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the technology company’s stock.
A number of other research firms have also recently commented on IBM. Jefferies Financial Group began coverage on International Business Machines in a research note on Friday, January 5th. They set a hold rating and a $180.00 target price on the stock. Evercore upgraded International Business Machines from an in-line rating to an outperform rating and boosted their price target for the company from $165.00 to $200.00 in a report on Friday, January 19th. Bank of America boosted their price target on International Business Machines from $155.00 to $170.00 and gave the company a buy rating in a report on Tuesday, December 5th. Royal Bank of Canada lowered their price target on International Business Machines from $188.00 to $179.00 and set an outperform rating for the company in a report on Thursday, October 26th. Finally, StockNews.com upgraded International Business Machines from a hold rating to a buy rating in a report on Tuesday, November 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of Hold and an average target price of $169.85.
International Business Machines Stock Performance
International Business Machines (NYSE:IBM – Get Free Report) last announced its quarterly earnings data on Wednesday, January 24th. The technology company reported $3.87 EPS for the quarter, beating the consensus estimate of $3.78 by $0.09. International Business Machines had a return on equity of 39.66% and a net margin of 12.13%. The business had revenue of $17.38 billion for the quarter, compared to the consensus estimate of $17.29 billion. During the same period in the previous year, the business earned $3.60 earnings per share. The business’s revenue was up 4.1% on a year-over-year basis. Analysts anticipate that International Business Machines will post 9.85 EPS for the current year.
International Business Machines Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Saturday, December 9th. Shareholders of record on Friday, November 10th were given a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a yield of 3.54%. The ex-dividend date was Thursday, November 9th. International Business Machines’s dividend payout ratio is currently 81.67%.
Institutional Investors Weigh In On International Business Machines
Hedge funds have recently modified their holdings of the company. Avion Wealth lifted its stake in International Business Machines by 6.2% in the 4th quarter. Avion Wealth now owns 964 shares of the technology company’s stock valued at $158,000 after buying an additional 56 shares in the last quarter. Financial Security Advisor Inc. lifted its stake in International Business Machines by 2.7% in the 4th quarter. Financial Security Advisor Inc. now owns 2,346 shares of the technology company’s stock valued at $384,000 after buying an additional 61 shares in the last quarter. Webster Bank N. A. lifted its stake in International Business Machines by 0.9% in the 4th quarter. Webster Bank N. A. now owns 7,131 shares of the technology company’s stock worth $1,166,000 after purchasing an additional 62 shares in the last quarter. Thrive Wealth Management LLC lifted its stake in International Business Machines by 0.9% in the 4th quarter. Thrive Wealth Management LLC now owns 7,311 shares of the technology company’s stock worth $1,196,000 after purchasing an additional 64 shares in the last quarter. Finally, Kowal Investment Group LLC lifted its stake in International Business Machines by 3.3% in the 4th quarter. Kowal Investment Group LLC now owns 2,004 shares of the technology company’s stock worth $328,000 after purchasing an additional 64 shares in the last quarter. 56.16% of the stock is owned by hedge funds and other institutional investors.
About International Business Machines
International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.
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