International Business Machines Corp.’s (IBM) Purchase Rating Setd at Argus

International Business Machines Corp.’s (IBM) Purchase Rating Setd at Argus

Argus reaffirmed their buy rating on shares of International Business Machines Corp. (NYSE:IBM) in a report issued on Wednesday. Argus currently has a $192.00 price target on the technology company’s stock, up from their prior price target of $185.00.

A number of other equities analysts also recently issued reports on the company. Morgan Stanley upped their price target on International Business Machines Corp. to $9.00 in a report on Thursday, January 12th. Stifel Nicolaus upped their price target on International Business Machines Corp. from $165.00 to $192.00 and gave the company a buy rating in a report on Thursday, January 12th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $170.00 price target (up from $165.00) on shares of International Business Machines Corp. in a report on Friday, January 13th. Sanford C. Bernstein upped their price target on International Business Machines Corp. to $150.00 in a report on Monday, March 6th. Finally, Credit Suisse Group AG reaffirmed an underperform rating and issued a $165.50 price target (up from $110.00) on shares of International Business Machines Corp. in a report on Tuesday, December 13th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the company’s stock. International Business Machines Corp. currently has an average rating of Hold and an average target price of $169.75.

International Business Machines Corp. (NYSE:IBM) opened at 173.83 on Wednesday. The firm’s 50-day moving average is $178.31 and its 200-day moving average is $165.60. The stock has a market capitalization of $163.96 billion, a price-to-earnings ratio of 14.04 and a beta of 0.96. International Business Machines Corp. has a 52-week low of $142.50 and a 52-week high of $182.79.

International Business Machines Corp. (NYSE:IBM) last released its earnings results on Thursday, January 19th. The technology company reported $5.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.88 by $0.13. International Business Machines Corp. had a net margin of 14.85% and a return on equity of 78.32%. The firm had revenue of $21.77 billion for the quarter, compared to analyst estimates of $21.69 billion. During the same period in the prior year, the firm earned $4.84 earnings per share. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. Analysts predict that International Business Machines Corp. will post $13.79 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 10th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 3.22%. The ex-dividend date was Wednesday, February 8th. International Business Machines Corp.’s dividend payout ratio is presently 45.16%.

In other International Business Machines Corp. news, insider Diane J. Gherson sold 5,000 shares of the stock in a transaction on Monday, February 13th. The stock was sold at an average price of $179.18, for a total value of $895,900.00. Following the completion of the transaction, the insider now owns 20,952 shares in the company, valued at $3,754,179.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider James J. Kavanaugh sold 559 shares of the stock in a transaction on Tuesday, February 7th. The stock was sold at an average price of $178.31, for a total value of $99,675.29. Following the completion of the transaction, the insider now owns 29,856 shares of the company’s stock, valued at approximately $5,323,623.36. The disclosure for this sale can be found here. Corporate insiders own 0.08% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in International Business Machines Corp. during the fourth quarter valued at about $1,366,710,000. Asset Management One Co. Ltd. boosted its position in International Business Machines Corp. by 1,629.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,573,373 shares of the technology company’s stock valued at $261,234,000 after buying an additional 1,482,372 shares during the last quarter. State Street Corp boosted its position in International Business Machines Corp. by 2.5% in the fourth quarter. State Street Corp now owns 51,016,969 shares of the technology company’s stock valued at $8,468,300,000 after buying an additional 1,220,924 shares during the last quarter. PGGM Investments boosted its position in International Business Machines Corp. by 69.6% in the third quarter. PGGM Investments now owns 1,743,519 shares of the technology company’s stock valued at $276,958,000 after buying an additional 715,298 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in International Business Machines Corp. during the fourth quarter valued at about $82,563,000. Hedge funds and other institutional investors own 58.65% of the company’s stock.

About International Business Machines Corp.

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.

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