Bank of America reissued their buy rating on shares of IBM (NYSE:IBM) in a research note released on Wednesday morning. The brokerage currently has a $200.00 price objective on the technology company’s stock.

A number of other equities analysts have also recently issued reports on the stock. UBS Group raised shares of IBM from a neutral rating to a buy rating and increased their price objective for the stock from $160.00 to $180.00 in a research report on Wednesday, September 26th. Zacks Investment Research cut shares of IBM from a buy rating to a hold rating in a research report on Wednesday, September 19th. Stifel Nicolaus cut their price objective on shares of IBM from $182.00 to $178.00 and set a buy rating on the stock in a research report on Thursday, July 19th. ValuEngine raised shares of IBM from a sell rating to a hold rating in a research report on Thursday, July 19th. Finally, Moffett Nathanson initiated coverage on shares of IBM in a research report on Thursday, October 4th. They set a sell rating and a $150.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have issued a buy rating to the company. IBM has a consensus rating of Hold and a consensus price target of $167.39.

IBM traded down $1.45 during trading on Wednesday, reaching $129.10. 7,720,962 shares of the stock traded hands, compared to its average volume of 6,628,948. The company has a current ratio of 1.31, a quick ratio of 1.27 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $119.16 billion, a P/E ratio of 9.36, a price-to-earnings-growth ratio of 1.90 and a beta of 0.87. IBM has a 12 month low of $127.96 and a 12 month high of $171.13.

IBM (NYSE:IBM) last released its quarterly earnings data on Tuesday, October 16th. The technology company reported $3.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.40 by $0.02. The company had revenue of $18.76 billion for the quarter, compared to analysts’ expectations of $19.04 billion. IBM had a net margin of 7.12% and a return on equity of 69.98%. The business’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.30 EPS. As a group, research analysts predict that IBM will post 13.82 EPS for the current fiscal year.

In related news, insider Diane J. Gherson sold 11,451 shares of the firm’s stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $145.42, for a total value of $1,665,204.42. Following the transaction, the insider now owns 19,114 shares of the company’s stock, valued at approximately $2,779,557.88. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.17% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Coastline Trust Co increased its stake in IBM by 14.7% in the 2nd quarter. Coastline Trust Co now owns 19,353 shares of the technology company’s stock valued at $2,704,000 after buying an additional 2,475 shares during the last quarter. Berkshire Asset Management LLC PA increased its stake in IBM by 2.4% in the 3rd quarter. Berkshire Asset Management LLC PA now owns 20,690 shares of the technology company’s stock valued at $3,129,000 after buying an additional 481 shares during the last quarter. Argus Investors Counsel Inc. increased its stake in IBM by 18.8% in the 2nd quarter. Argus Investors Counsel Inc. now owns 27,425 shares of the technology company’s stock valued at $3,831,000 after buying an additional 4,349 shares during the last quarter. Viking Fund Management LLC increased its stake in IBM by 3.8% in the 3rd quarter. Viking Fund Management LLC now owns 27,000 shares of the technology company’s stock valued at $4,083,000 after buying an additional 1,000 shares during the last quarter. Finally, Grassi Investment Management increased its stake in IBM by 2.0% in the 2nd quarter. Grassi Investment Management now owns 49,795 shares of the technology company’s stock valued at $6,956,000 after buying an additional 965 shares during the last quarter. 55.42% of the stock is currently owned by institutional investors and hedge funds.

IBM Company Profile

International Business Machines Corporation operates as an integrated technology and services company worldwide. Its Cognitive Solutions segment offers Watson, a cognitive computing platform that interacts in natural language, processes big data, and learns from interactions with people and computers.

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Analyst Recommendations for IBM (NYSE:IBM)

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