UBS Group set a $180.00 price objective on IBM (NYSE:IBM) in a research note released on Wednesday morning, www.tipranks.com reports. The brokerage currently has a buy rating on the technology company’s stock.
A number of other equities research analysts have also weighed in on the stock. Morgan Stanley dropped their price objective on shares of IBM from $198.00 to $185.00 and set a $149.24 rating on the stock in a report on Thursday, July 19th. JPMorgan Chase & Co. reaffirmed a $149.24 rating and issued a $157.00 price target on shares of IBM in a report on Thursday, July 19th. BMO Capital Markets lowered their price target on shares of IBM from $175.00 to $172.00 and set a $149.24 rating on the stock in a report on Thursday, July 19th. Nomura started coverage on shares of IBM in a report on Wednesday, June 27th. They issued a buy rating and a $160.00 price target on the stock. Finally, Bank of America reaffirmed a buy rating and issued a $200.00 price target on shares of IBM in a report on Thursday, July 19th. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $168.45.
Shares of IBM stock traded down $2.04 during trading hours on Wednesday, reaching $140.65. 387,349 shares of the company’s stock were exchanged, compared to its average volume of 4,821,295. The company has a market cap of $138.02 billion, a PE ratio of 10.26, a PEG ratio of 2.20 and a beta of 0.87. The company has a current ratio of 1.32, a quick ratio of 1.27 and a debt-to-equity ratio of 2.03. IBM has a fifty-two week low of $137.45 and a fifty-two week high of $171.13.
IBM (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 18th. The technology company reported $3.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.04. The business had revenue of $20 billion for the quarter, compared to the consensus estimate of $19.85 billion. IBM had a return on equity of 69.84% and a net margin of 7.13%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.94 earnings per share. On average, equities analysts forecast that IBM will post 13.82 earnings per share for the current year.
In other news, insider Diane J. Gherson sold 11,451 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $145.42, for a total transaction of $1,665,204.42. Following the completion of the sale, the insider now owns 19,114 shares in the company, valued at approximately $2,779,557.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is owned by company insiders.
Several large investors have recently bought and sold shares of the stock. Schroder Investment Management Group boosted its position in shares of IBM by 24.1% during the 2nd quarter. Schroder Investment Management Group now owns 1,854,109 shares of the technology company’s stock worth $259,649,000 after purchasing an additional 359,868 shares during the period. Swedbank boosted its position in shares of IBM by 214.6% during the 3rd quarter. Swedbank now owns 1,123,724 shares of the technology company’s stock worth $169,918,000 after purchasing an additional 766,478 shares during the period. Tocqueville Asset Management L.P. boosted its position in shares of IBM by 4.3% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 205,622 shares of the technology company’s stock worth $28,725,000 after purchasing an additional 8,571 shares during the period. Bruce & Co. Inc. boosted its position in shares of IBM by 37.6% during the 1st quarter. Bruce & Co. Inc. now owns 146,500 shares of the technology company’s stock worth $22,477,000 after purchasing an additional 40,000 shares during the period. Finally, Earnest Partners LLC boosted its position in shares of IBM by 12.1% during the 1st quarter. Earnest Partners LLC now owns 61,837 shares of the technology company’s stock worth $9,488,000 after purchasing an additional 6,657 shares during the period. 55.39% of the stock is owned by hedge funds and other institutional investors.
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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