International Business Machines (NYSE:IBM) Cut to “Hold” at StockNews.com

International Business Machines (NYSE:IBM) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Saturday.

A number of other analysts have also weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. The Goldman Sachs Group reissued a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Wedbush initiated coverage on shares of International Business Machines in a report on Monday, February 3rd. They set an “outperform” rating for the company. Oppenheimer initiated coverage on shares of International Business Machines in a report on Tuesday, February 11th. They set an “outperform” rating and a $320.00 target price for the company. Finally, Sanford C. Bernstein raised their target price on shares of International Business Machines from $210.00 to $215.00 and gave the stock a “market perform” rating in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $231.44.

International Business Machines Trading Up 1.0 %

Shares of International Business Machines stock opened at $248.15 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. International Business Machines has a 12-month low of $162.62 and a 12-month high of $266.45. The firm has a market capitalization of $230.10 billion, a price-to-earnings ratio of 38.71, a PEG ratio of 5.81 and a beta of 0.74. The firm’s 50 day simple moving average is $244.23 and its two-hundred day simple moving average is $228.05.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. Analysts predict that International Business Machines will post 10.78 EPS for the current year.

Insider Buying and Selling at International Business Machines

In other news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $253.01, for a total value of $6,715,644.43. Following the sale, the senior vice president now owns 45,007 shares in the company, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is owned by corporate insiders.

Institutional Trading of International Business Machines

Institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. grew its position in shares of International Business Machines by 40.9% in the third quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares during the period. Blue Zone Wealth Advisors LLC acquired a new position in International Business Machines during the fourth quarter worth about $242,000. Brady Martz Wealth Solutions LLC acquired a new position in International Business Machines during the fourth quarter worth about $1,940,000. Tranquilli Financial Advisor LLC acquired a new position in International Business Machines during the fourth quarter worth about $373,000. Finally, Truist Financial Corp boosted its position in International Business Machines by 6.5% during the fourth quarter. Truist Financial Corp now owns 811,062 shares of the technology company’s stock worth $178,296,000 after acquiring an additional 49,591 shares during the last quarter. Institutional investors and hedge funds 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.