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

StockNews.com upgraded shares of International Business Machines (NYSE:IBM) from a hold rating to a buy rating in a report issued on Tuesday morning.

A number of other brokerages have also weighed in on IBM. Jefferies Financial Group boosted their price objective on shares of International Business Machines from $200.00 to $245.00 and gave the company a “hold” rating in a report on Monday, October 21st. BMO Capital Markets upped their price objective on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. Stifel Nicolaus boosted their target price on shares of International Business Machines from $205.00 to $246.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Hsbc Global Res raised shares of International Business Machines to a “moderate sell” rating in a research note on Friday, July 26th. Finally, The Goldman Sachs Group upped their price objective on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $208.12.

International Business Machines Stock Performance

Shares of IBM stock opened at $209.01 on Tuesday. The firm has a market cap of $193.26 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 4.74 and a beta of 0.71. The company’s 50 day moving average is $218.58 and its 200 day moving average is $193.11. The company has a quick ratio of 1.01, a current ratio of 1.06 and a debt-to-equity ratio of 2.16. International Business Machines has a 52-week low of $150.40 and a 52-week high of $237.37.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. During the same period in the previous year, the company earned $2.20 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that International Business Machines will post 10.11 EPS for the current fiscal year.

International Business Machines Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th will be paid a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Tuesday, November 12th. International Business Machines’s dividend payout ratio (DPR) is presently 97.23%.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of International Business Machines stock in a transaction dated Friday, November 8th. The shares were 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 in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.07% of the company’s stock.

Institutional Investors Weigh In On International Business Machines

A number of hedge funds and other institutional investors have recently modified their holdings of the company. ESL Trust Services LLC purchased a new stake in International Business Machines during the first quarter worth approximately $28,000. Hazlett Burt & Watson Inc. raised its holdings in International Business Machines by 1,054.5% in the third quarter. Hazlett Burt & Watson Inc. now owns 127 shares of the technology company’s stock valued at $29,000 after acquiring an additional 116 shares in the last quarter. Hara Capital LLC bought a new stake in International Business Machines during the third quarter valued at $29,000. Oliver Lagore Vanvalin Investment Group bought a new stake in International Business Machines during the second quarter valued at $36,000. Finally, Wolff Wiese Magana LLC lifted its position in International Business Machines by 37.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after purchasing an additional 60 shares during the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

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.