Vetr upgraded shares of International Business Machines Corp. (NYSE:IBM) from a hold rating to a buy rating in a report released on Wednesday. Vetr currently has $162.03 price target on the technology company’s stock.

Analyst Recommendations for International Business Machines Corp. (NYSE:IBM)

Several other equities research analysts have also recently weighed in on the company. Drexel Hamilton reiterated a buy rating and issued a $166.00 target price on shares of International Business Machines Corp. in a report on Friday, July 15th. JMP Securities reiterated a buy rating and issued a $157.00 target price on shares of International Business Machines Corp. in a report on Thursday, June 23rd. Morgan Stanley reiterated a buy rating and issued a $168.00 target price on shares of International Business Machines Corp. in a report on Tuesday, May 17th. Zacks Investment Research upgraded International Business Machines Corp. from a hold rating to a buy rating and set a $179.00 target price for the company in a report on Monday, July 18th. Finally, Wells Fargo & Co. reiterated a hold rating and issued a $142.50 target price on shares of International Business Machines Corp. in a report on Tuesday, May 24th. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $153.22.

Shares of International Business Machines Corp. (NYSE:IBM) opened at 154.87 on Wednesday. The company’s 50 day moving average price is $159.60 and its 200 day moving average price is $152.80. International Business Machines Corp. has a 52-week low of $116.90 and a 52-week high of $164.95. The stock has a market capitalization of $148.03 billion, a PE ratio of 12.59 and a beta of 0.77.

International Business Machines Corp. (NYSE:IBM) last posted its quarterly earnings data on Monday, July 18th. The technology company reported $2.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.89 by $0.06. International Business Machines Corp. had a return on equity of 88.92% and a net margin of 14.86%. The company earned $20.20 billion during the quarter, compared to analysts’ expectations of $20.03 billion. During the same quarter in the previous year, the business earned $3.84 EPS. International Business Machines Corp.’s revenue was down 2.8% compared to the same quarter last year. On average, equities research analysts anticipate that International Business Machines Corp. will post $13.51 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Saturday, September 10th. Shareholders of record on Wednesday, August 10th were issued a dividend of $1.40 per share. The ex-dividend date of this dividend was Monday, August 8th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.62%. International Business Machines Corp.’s payout ratio is currently 45.53%.

In related news, insider Robert J. Picciano sold 1,922 shares of the stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $159.16, for a total value of $305,905.52. Following the completion of the sale, the insider now owns 35,861 shares of the company’s stock, valued at $5,707,636.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Erich Clementi sold 2,984 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $159.00, for a total value of $474,456.00. Following the completion of the sale, the insider now directly owns 22,531 shares of the company’s stock, valued at approximately $3,582,429. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.

Several large investors have recently bought and sold shares of IBM. Roble Belko & Company Inc boosted its stake in International Business Machines Corp. by 2.9% in the second quarter. Roble Belko & Company Inc now owns 674 shares of the technology company’s stock valued at $102,000 after buying an additional 19 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. bought a new stake in International Business Machines Corp. during the second quarter valued at approximately $105,000. Cypress Capital Management LLC WY bought a new stake in International Business Machines Corp. during the second quarter valued at approximately $107,000. Jackson Grant Investment Advisers Inc. boosted its stake in International Business Machines Corp. by 0.7% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 726 shares of the technology company’s stock valued at $110,000 after buying an additional 5 shares in the last quarter. Finally, Americafirst Capital Management LLC bought a new stake in International Business Machines Corp. during the second quarter valued at approximately $120,000. 57.63% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Corp. Company Profile

International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Global Technology Services (GTS), Global Business Services (GBS), Software, Systems Hardware and Global Financing. The Company’s GTS segment offers services, including strategic outsourcing, integrated technology services, cloud and technology support services (maintenance services).

5 Day Chart for NYSE:IBM

To view Vetr’s full report, visit Vetr’s official website.

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