Bank of America Issues Positive Forecast for International Business Machines (NYSE:IBM) Stock Price

International Business Machines (NYSE:IBM) had its target price lifted by research analysts at Bank of America from $260.00 to $270.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Bank of America‘s price objective would suggest a potential upside of 5.51% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Jefferies Financial Group lifted their price target 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. DZ Bank cut International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price on the stock. in a research note on Wednesday, October 2nd. Morgan Stanley upped their target price on International Business Machines from $217.00 to $228.00 and gave the company an “equal weight” rating in a research note on Thursday. Sanford C. Bernstein upped their price target 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. Finally, StockNews.com downgraded International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $223.13.

International Business Machines Stock Performance

Shares of NYSE IBM traded up $27.27 during midday trading on Thursday, hitting $255.90. The company’s stock had a trading volume of 9,384,710 shares, compared to its average volume of 4,157,322. The firm has a market capitalization of $236.62 billion, a price-to-earnings ratio of 37.26, a P/E/G ratio of 4.78 and a beta of 0.74. International Business Machines has a one year low of $162.62 and a one year high of $261.80. The stock has a fifty day moving average price of $225.24 and a 200 day moving average price of $213.55. The company has a current ratio of 1.06, a quick ratio of 1.01 and a debt-to-equity ratio of 2.16.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 29th. The technology company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $3.77 by $0.15. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. On average, research analysts forecast that International Business Machines will post 10.16 EPS for the current fiscal year.

Insider Activity

In other International Business Machines news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the company’s 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 sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.07% of the stock is owned by insiders.

Hedge Funds Weigh In On International Business Machines

A number of hedge funds and other institutional investors have recently made changes to their positions in IBM. Sage Advisors LLC boosted its position in shares of International Business Machines by 1.0% in the fourth quarter. Sage Advisors LLC now owns 4,716 shares of the technology company’s stock valued at $1,037,000 after acquiring an additional 49 shares during the period. Adell Harriman & Carpenter Inc. increased its holdings in shares of International Business Machines by 1.7% during the fourth quarter. Adell Harriman & Carpenter Inc. now owns 64,595 shares of the technology company’s stock worth $14,200,000 after purchasing an additional 1,063 shares during the period. Valeo Financial Advisors LLC increased its holdings in shares of International Business Machines by 0.7% during the fourth quarter. Valeo Financial Advisors LLC now owns 14,096 shares of the technology company’s stock worth $3,099,000 after purchasing an additional 96 shares during the period. Blue Trust Inc. increased its holdings in shares of International Business Machines by 14.6% during the fourth quarter. Blue Trust Inc. now owns 20,962 shares of the technology company’s stock worth $4,608,000 after purchasing an additional 2,673 shares during the period. Finally, Campbell Wealth Management increased its stake in International Business Machines by 226.1% during the 4th quarter. Campbell Wealth Management now owns 5,537 shares of the technology company’s stock worth $1,217,000 after acquiring an additional 3,839 shares during the period. 58.96% of the stock is owned by 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.