International Business Machines (NYSE:IBM) Price Target Raised to $233.00 at JPMorgan Chase & Co.

International Business Machines (NYSE:IBM) had its target price hoisted by JPMorgan Chase & Co. from $227.00 to $233.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

Other research analysts also recently issued reports about the company. Bernstein Bank upped their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Jefferies Financial Group upped their target price on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Morgan Stanley lifted their price target on shares of International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. Royal Bank of Canada restated an “outperform” rating and set a $250.00 price objective on shares of International Business Machines in a report on Thursday, October 24th. Finally, Sanford C. Bernstein lifted their price objective on shares of International Business Machines from $210.00 to $215.00 and gave the company a “market perform” rating in a report on Friday, January 3rd. 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.com, the company presently has an average rating of “Hold” and an average target price of $220.73.

International Business Machines Stock Up 1.1 %

International Business Machines stock opened at $225.63 on Thursday. The company has a market capitalization of $208.63 billion, a PE ratio of 32.84, a PEG ratio of 4.80 and a beta of 0.74. International Business Machines has a 12-month low of $162.62 and a 12-month high of $239.35. The firm’s fifty day moving average is $223.60 and its 200 day moving average is $211.90. 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 (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.03. The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a net margin of 10.22% and a return on equity of 40.52%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.20 earnings per share. As a group, sell-side analysts predict that International Business Machines will post 10.16 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 12th were issued a $1.67 dividend. This represents a $6.68 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend was Tuesday, November 12th. International Business Machines’s dividend payout ratio is presently 97.23%.

Insider Activity at International Business Machines

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $215.20, for a total value of $774,720.00. Following the transaction, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.07% of the stock is currently owned by company insiders.

Institutional Trading of International Business Machines

Several hedge funds have recently added to or reduced their stakes in the stock. Public Sector Pension Investment Board raised its holdings in shares of International Business Machines by 72.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 35,496 shares of the technology company’s stock worth $6,139,000 after purchasing an additional 14,874 shares during the period. AXA S.A. increased its position in International Business Machines by 4.5% in the second quarter. AXA S.A. now owns 432,215 shares of the technology company’s stock worth $74,752,000 after buying an additional 18,423 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of International Business Machines by 6.4% in the second quarter. Ameriprise Financial Inc. now owns 7,366,715 shares of the technology company’s stock valued at $1,274,074,000 after buying an additional 444,698 shares during the period. Drucker Wealth 3.0 LLC purchased a new position in shares of International Business Machines during the 2nd quarter valued at $264,000. Finally, Delta Investment Management LLC grew its stake in shares of International Business Machines by 3.3% during the 2nd quarter. Delta Investment Management LLC now owns 5,522 shares of the technology company’s stock worth $955,000 after acquiring an additional 176 shares during the period. 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.