International Business Machines (IBM) Lifted to Strong-Buy at Vetr
Vetr upgraded shares of International Business Machines (NYSE:IBM) from a buy rating to a strong-buy rating in a research report released on Wednesday. Vetr currently has $173.45 target price on the technology company’s stock.
Several other equities analysts also recently weighed in on IBM. Wedbush reissued a neutral rating and set a $155.00 price target on shares of International Business Machines in a research report on Wednesday, August 9th. Royal Bank Of Canada reissued a sector perform rating and set a $160.00 price target on shares of International Business Machines in a research report on Friday, August 18th. Oppenheimer reissued a hold rating on shares of International Business Machines in a research report on Wednesday, October 18th. ValuEngine raised International Business Machines from a hold rating to a buy rating in a research report on Monday, October 2nd. Finally, Cantor Fitzgerald reissued a hold rating and set a $154.00 price target on shares of International Business Machines in a research report on Friday, October 13th. Eight equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $159.24.
International Business Machines (NYSE IBM) traded up $1.24 during trading on Wednesday, reaching $154.81. The company’s stock had a trading volume of 3,440,847 shares, compared to its average volume of 4,178,896. The company has a quick ratio of 1.36, a current ratio of 1.41 and a debt-to-equity ratio of 2.09. The stock has a market capitalization of $143,321.70, a P/E ratio of 11.33, a price-to-earnings-growth ratio of 2.27 and a beta of 0.94. International Business Machines has a one year low of $139.13 and a one year high of $182.79.
International Business Machines (NYSE:IBM) last released its quarterly earnings results on Tuesday, October 17th. The technology company reported $3.30 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.02. The company had revenue of $19.15 billion during the quarter, compared to the consensus estimate of $18.63 billion. International Business Machines had a return on equity of 68.68% and a net margin of 14.43%. International Business Machines’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $3.29 earnings per share. research analysts anticipate that International Business Machines will post 13.8 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Saturday, December 9th. Investors of record on Friday, November 10th were issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 3.88%. The ex-dividend date was Thursday, November 9th. International Business Machines’s payout ratio is currently 50.13%.
A number of institutional investors have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC purchased a new position in International Business Machines in the third quarter valued at about $4,855,000. Coastline Trust Co raised its position in International Business Machines by 8.9% in the third quarter. Coastline Trust Co now owns 16,353 shares of the technology company’s stock valued at $2,373,000 after purchasing an additional 1,340 shares during the period. Truepoint Inc. increased its position in shares of International Business Machines by 14,198.1% during the third quarter. Truepoint Inc. now owns 499,003 shares of the technology company’s stock worth $499,000 after acquiring an additional 495,513 shares during the last quarter. Garde Capital Inc. purchased a new stake in shares of International Business Machines during the third quarter worth about $789,000. Finally, Archford Capital Strategies LLC increased its position in shares of International Business Machines by 6.0% during the third quarter. Archford Capital Strategies LLC now owns 13,954 shares of the technology company’s stock worth $2,024,000 after acquiring an additional 794 shares during the last quarter. Hedge funds and other institutional investors own 57.26% of the company’s stock.
About International Business Machines
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for International Business Machines Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Business Machines Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.