StockNews.com Upgrades International Business Machines (NYSE:IBM) to “Buy”

International Business Machines (NYSE:IBM) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

IBM has been the subject of a number of other reports. Oppenheimer initiated coverage on International Business Machines in a research report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 price objective for the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research report on Wednesday, February 5th. Wedbush assumed coverage on shares of International Business Machines in a research note on Monday, February 3rd. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. increased their target price on shares of International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $231.44.

International Business Machines Price Performance

IBM opened at $261.67 on Friday. The firm has a market cap of $242.63 billion, a price-to-earnings ratio of 40.82, a PEG ratio of 5.81 and a beta of 0.74. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The stock’s 50-day moving average price is $241.29 and its 200 day moving average price is $226.41. International Business Machines has a 12-month low of $162.62 and a 12-month high of $265.72.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. As a group, sell-side analysts expect that International Business Machines will post 10.78 earnings per share for the current year.

Insider Buying and Selling at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the completion of the sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at approximately $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is owned by corporate insiders.

Institutional Trading of International Business Machines

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Compass Financial Services Inc acquired a new position in International Business Machines during the fourth quarter worth $26,000. Hara Capital LLC acquired a new position in shares of International Business Machines in the third quarter worth $29,000. Vision Financial Markets LLC acquired a new stake in shares of International Business Machines during the fourth quarter valued at $31,000. Avondale Wealth Management raised its stake in International Business Machines by 56.0% in the 4th quarter. Avondale Wealth Management now owns 156 shares of the technology company’s stock valued at $34,000 after purchasing an additional 56 shares during the last quarter. Finally, Valued Wealth Advisors LLC grew its holdings in shares of International Business Machines by 134.3% during the fourth quarter. Valued Wealth Advisors LLC now owns 157 shares of the technology company’s stock worth $35,000 after buying an additional 90 shares in the last quarter. Institutional investors and hedge funds 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.