International Business Machines’ (IBM) “Outperform” Rating Reaffirmed at Royal Bank of Canada

International Business Machines (NYSE:IBM)‘s stock had its “outperform” rating reiterated by investment analysts at Royal Bank of Canada in a report released on Monday,Benzinga reports. They presently have a $250.00 target price on the technology company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 10.94% from the stock’s previous close.

Several other research firms have also recently weighed in on IBM. Stifel Nicolaus boosted their price target on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. lifted their target price on shares of International Business Machines from $227.00 to $233.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. UBS Group upped their target price on International Business Machines from $150.00 to $160.00 and gave the company a “sell” rating in a report on Tuesday, January 14th. The Goldman Sachs Group lifted their price target on International Business Machines from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, StockNews.com lowered International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $220.40.

International Business Machines Trading Up 0.5 %

NYSE IBM opened at $225.34 on Monday. 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 business has a fifty day simple moving average of $224.65 and a 200 day simple moving average of $213.14. 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 $208.36 billion, a P/E ratio of 32.80, a PEG ratio of 4.78 and a beta of 0.74.

Insider Buying and Selling

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’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 sale, the senior vice president now directly owns 25,390 shares in the company, valued at $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.07% of the stock is owned by insiders.

Hedge Funds Weigh In On International Business Machines

Hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC increased its stake in International Business Machines by 20,324.5% in the 3rd quarter. International Assets Investment Management LLC now owns 2,715,636 shares of the technology company’s stock worth $600,373,000 after acquiring an additional 2,702,340 shares during the last quarter. Holocene Advisors LP purchased a new stake in International Business Machines in the third quarter valued at approximately $573,306,000. State Street Corp grew its stake in International Business Machines by 2.2% in the 3rd quarter. State Street Corp now owns 55,671,883 shares of the technology company’s stock worth $12,307,940,000 after buying an additional 1,200,803 shares in the last quarter. KBC Group NV raised its position in shares of International Business Machines by 90.4% during the 4th quarter. KBC Group NV now owns 1,687,253 shares of the technology company’s stock valued at $370,909,000 after buying an additional 800,930 shares in the last quarter. Finally, Strategic Financial Concepts LLC lifted its holdings in shares of International Business Machines by 23,311.1% during the 4th quarter. Strategic Financial Concepts LLC now owns 697,182 shares of the technology company’s stock worth $153,262,000 after acquiring an additional 694,204 shares during the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

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.