International Business Machines (NYSE:IBM) Price Target Raised to $160.00

International Business Machines (NYSE:IBM) had its target price lifted by equities researchers at UBS Group from $150.00 to $160.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “sell” rating on the technology company’s stock. UBS Group’s price target indicates a potential downside of 27.30% from the stock’s current price.

Several other brokerages also recently weighed in on IBM. BMO Capital Markets lifted their price target on shares of International Business Machines from $235.00 to $260.00 and gave the company a “market perform” rating in a report on Thursday, October 24th. Bank of America raised their price target on International Business Machines from $209.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. 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 note on Wednesday, October 2nd. Bernstein Bank increased their target price on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research report on Thursday, October 3rd. Finally, Morgan Stanley boosted their price target on International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $215.81.

International Business Machines Stock Performance

Shares of NYSE IBM opened at $220.07 on Tuesday. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. International Business Machines has a 12-month low of $162.62 and a 12-month high of $239.35. The firm has a market capitalization of $203.49 billion, a price-to-earnings ratio of 32.03, a price-to-earnings-growth ratio of 5.18 and a beta of 0.74. The firm has a 50 day moving average of $222.34 and a 200 day moving average of $210.16.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. During the same period in the prior year, the business posted $2.20 EPS. International Business Machines’s revenue was up 1.5% on a year-over-year basis. On average, research analysts anticipate that International Business Machines will post 10.12 earnings per share for the current year.

Insider Activity at International Business Machines

In related 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 value of $774,720.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.07% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Joule Financial LLC boosted its stake in shares of International Business Machines by 39.9% during the 4th quarter. Joule Financial LLC now owns 7,569 shares of the technology company’s stock worth $1,664,000 after purchasing an additional 2,160 shares during the period. Aaron Wealth Advisors LLC boosted its position in shares of International Business Machines by 7.7% during the fourth quarter. Aaron Wealth Advisors LLC now owns 8,420 shares of the technology company’s stock valued at $1,851,000 after buying an additional 600 shares during the period. Sandy Cove Advisors LLC grew its stake in shares of International Business Machines by 4.1% during the fourth quarter. Sandy Cove Advisors LLC now owns 3,023 shares of the technology company’s stock valued at $665,000 after buying an additional 118 shares during the last quarter. Financial Advisors LLC raised its holdings in shares of International Business Machines by 18.7% in the fourth quarter. Financial Advisors LLC now owns 2,357 shares of the technology company’s stock worth $518,000 after buying an additional 371 shares during the period. Finally, Kera Capital Partners Inc. bought a new stake in shares of International Business Machines during the 4th quarter worth approximately $6,195,000. 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.