International Business Machines (NYSE:IBM) Upgraded at StockNews.com

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

Several other brokerages also recently weighed in on IBM. BMO Capital Markets increased their price target on International Business Machines from $260.00 to $280.00 and gave the stock a “market perform” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. increased their price target on International Business Machines from $233.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a report on Wednesday, February 5th. Bank of America increased their price target on International Business Machines from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, January 30th. Finally, Wedbush started coverage on International Business Machines in a report on Monday, February 3rd. They issued an “outperform” rating for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, International Business Machines presently has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Stock Performance

Shares of IBM opened at $261.67 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. The firm has a market cap of $242.63 billion, a PE ratio of 40.82, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. The company’s 50 day simple moving average is $241.29 and its 200-day simple moving average is $226.62. 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 (EPS) for the quarter, topping 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%. As a group, equities analysts predict that International Business Machines will post 10.78 EPS for the current year.

International Business Machines Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Monday, February 10th. International Business Machines’s dividend payout ratio is presently 104.21%.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of International Business Machines stock in a transaction dated 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 in the company, valued at $11,387,221.07. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is currently owned by company insiders.

Institutional Trading of International Business Machines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pettinga Financial Advisors LLC acquired a new position in shares of International Business Machines in the 3rd quarter valued at about $221,000. Blake Schutter Theil Wealth Advisors LLC acquired a new position in shares of International Business Machines in the 3rd quarter valued at about $268,000. Principal Financial Group Inc. lifted its stake in shares of International Business Machines by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 1,094,106 shares of the technology company’s stock valued at $241,885,000 after purchasing an additional 46,951 shares in the last quarter. Hara Capital LLC acquired a new position in shares of International Business Machines in the 3rd quarter valued at about $29,000. Finally, Consolidated Planning Corp acquired a new position in International Business Machines during the 3rd quarter worth approximately $5,338,000. Hedge funds and other institutional investors 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.