International Business Machines (NYSE:IBM) Trading 1.5% Higher After Analyst Upgrade

Shares of International Business Machines Co. (NYSE:IBM) were up 1.5% on Friday after Sanford C. Bernstein raised their price target on the stock from $210.00 to $215.00. Sanford C. Bernstein currently has a market perform rating on the stock. International Business Machines traded as high as $223.58 and last traded at $223.19. Approximately 1,513,678 shares changed hands during trading, a decline of 25% from the average daily volume of 2,005,902 shares. The stock had previously closed at $219.94.

Several other research analysts have also weighed in on the stock. Evercore ISI raised their price objective on shares of International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, September 11th. Morgan Stanley lifted their price target on International Business Machines from $208.00 to $222.00 and gave the stock an “equal weight” rating in a research note on Monday, December 16th. Bernstein Bank upped their price objective on International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Bank of America lifted their target price on International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Jefferies Financial Group boosted their price target on International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $210.65.

Insider Buying and Selling

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $215.20, for a total transaction of $774,720.00. Following the completion of the transaction, the senior vice president now owns 25,390 shares of the company’s stock, 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 SEC, which is available through the SEC website. Corporate insiders own 0.07% of the company’s stock.

Hedge Funds Weigh In On International Business Machines

Several large investors have recently made changes to their positions in the business. Lantz Financial LLC boosted its stake in shares of International Business Machines by 0.9% during the 2nd quarter. Lantz Financial LLC now owns 11,935 shares of the technology company’s stock worth $2,064,000 after acquiring an additional 107 shares in the last quarter. Private Advisor Group LLC raised its holdings in International Business Machines by 4.4% during the 2nd quarter. Private Advisor Group LLC now owns 172,104 shares of the technology company’s stock worth $29,713,000 after buying an additional 7,183 shares during the period. Weil Company Inc. lifted its stake in International Business Machines by 2.1% during the second quarter. Weil Company Inc. now owns 3,804 shares of the technology company’s stock valued at $658,000 after buying an additional 80 shares in the last quarter. SFE Investment Counsel boosted its holdings in shares of International Business Machines by 4.5% in the second quarter. SFE Investment Counsel now owns 38,430 shares of the technology company’s stock worth $6,646,000 after buying an additional 1,661 shares during the period. Finally, Sivia Capital Partners LLC raised its holdings in shares of International Business Machines by 6.6% during the second quarter. Sivia Capital Partners LLC now owns 1,454 shares of the technology company’s stock valued at $252,000 after acquiring an additional 90 shares during the period. Institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 1.2 %

The company’s 50-day moving average is $220.54 and its 200 day moving average is $207.26. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16. The firm has a market cap of $205.87 billion, a PE ratio of 32.41, a P/E/G ratio of 5.18 and a beta of 0.73.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. International Business Machines’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.20 earnings per share. As a group, sell-side analysts predict that International Business Machines Co. will post 10.12 EPS for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a $1.67 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 3.00%. International Business Machines’s dividend payout ratio is 97.23%.

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.