International Business Machines (NYSE:IBM) Upgraded by Erste Group Bank to Strong-Buy Rating

International Business Machines (NYSE:IBM) was upgraded by research analysts at Erste Group Bank from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Monday,Zacks.com reports.

Other research analysts also recently issued research reports about the company. Oppenheimer assumed coverage on International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 price objective for the company. Jefferies Financial Group upped their price objective on International Business Machines from $245.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Bank of America upped their price objective on International Business Machines from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. The Goldman Sachs Group restated a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Finally, JPMorgan Chase & Co. upped their price target on International Business Machines from $233.00 to $244.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Hold” and an average target price of $231.44.

International Business Machines Trading Down 2.4 %

Shares of International Business Machines stock opened at $246.80 on Monday. The stock has a fifty day simple moving average of $245.29 and a 200 day simple moving average of $229.16. International Business Machines has a 12-month low of $162.62 and a 12-month high of $266.45. The company has a market capitalization of $228.85 billion, a P/E ratio of 38.50, a price-to-earnings-growth ratio of 5.81 and a beta of 0.74. 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 (NYSE:IBM) last announced its quarterly earnings results on Wednesday, January 29th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.77 by $0.15. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. On average, sell-side analysts anticipate that International Business Machines will post 10.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the firm’s 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 sale, the senior vice president now owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.07% of the stock is currently owned by insiders.

Institutional Trading of International Business Machines

Several institutional investors and hedge funds have recently modified their holdings of the business. Triton Wealth Management PLLC raised its holdings in shares of International Business Machines by 23.0% in the 4th quarter. Triton Wealth Management PLLC now owns 1,274 shares of the technology company’s stock valued at $271,000 after acquiring an additional 238 shares in the last quarter. 111 Capital bought a new position in shares of International Business Machines during the 4th quarter valued at about $292,000. Thoma Capital Management LLC bought a new position in shares of International Business Machines during the 4th quarter valued at about $1,146,000. Wealth Enhancement Advisory Services LLC increased its position in shares of International Business Machines by 16.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 908,083 shares of the technology company’s stock valued at $199,624,000 after purchasing an additional 128,615 shares during the last quarter. Finally, Tableaux LLC bought a new position in shares of International Business Machines during the 4th quarter valued at about $385,000. Hedge funds and other 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.