International Business Machines (NYSE:IBM) Upgraded by StockNews.com to “Buy”

Posted by Defense World Staff on Sep 7th, 2023

StockNews.com upgraded shares of International Business Machines (NYSE:IBM – Free Report) from a hold rating to a buy rating in a report published on Wednesday morning.

A number of other research analysts also recently issued reports on IBM. JPMorgan Chase & Co. initiated coverage on International Business Machines in a report on Friday, July 7th. They set a neutral rating and a $145.00 price target on the stock. BMO Capital Markets raised their price target on shares of International Business Machines from $145.00 to $150.00 and gave the company a market perform rating in a report on Monday, July 17th. Morgan Stanley reissued an equal weight rating and set a $135.00 price objective on shares of International Business Machines in a report on Thursday, July 20th. Stifel Nicolaus raised their target price on shares of International Business Machines from $140.00 to $144.00 and gave the stock a buy rating in a report on Thursday, July 20th. Finally, Wedbush reiterated a neutral rating and set a $140.00 target price on shares of International Business Machines in a research note on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $141.75.

Check Out Our Latest Analysis on IBM

International Business Machines Stock Performance

Shares of International Business Machines stock opened at $148.06 on Wednesday. The stock has a market cap of $134.88 billion, a price-to-earnings ratio of 68.55, a PEG ratio of 3.76 and a beta of 0.85. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.06 and a quick ratio of 1.01. International Business Machines has a 1 year low of $115.54 and a 1 year high of $153.21. The firm’s 50-day moving average is $140.67 and its 200 day moving average is $132.89.

International Business Machines (NYSE:IBM – Get Free Report) last posted its quarterly earnings results on Wednesday, July 19th. The technology company reported $2.18 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.18. International Business Machines had a net margin of 3.35% and a return on equity of 38.10%. The firm had revenue of $15.48 billion for the quarter, compared to analysts’ expectations of $15.58 billion. During the same quarter in the prior year, the company posted $2.31 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. Sell-side analysts anticipate that International Business Machines will post 9.43 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Saturday, September 9th. Investors of record on Thursday, August 10th will be paid a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend is Wednesday, August 9th. International Business Machines’s dividend payout ratio (DPR) is presently 307.41%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in IBM. Cantor Fitzgerald Investment Advisor L.P boosted its position in shares of International Business Machines by 97.6% during the first quarter. Cantor Fitzgerald Investment Advisor L.P now owns 257,335 shares of the technology company’s stock worth $33,459,000 after acquiring an additional 127,093 shares during the last quarter. Roundview Capital LLC bought a new position in shares of International Business Machines during the 1st quarter valued at about $203,000. Sei Investments Co. grew its position in shares of International Business Machines by 35.7% during the first quarter. Sei Investments Co. now owns 177,599 shares of the technology company’s stock valued at $23,157,000 after purchasing an additional 46,756 shares in the last quarter. Candriam Luxembourg S.C.A. increased its holdings in shares of International Business Machines by 1.9% in the first quarter. Candriam Luxembourg S.C.A. now owns 95,662 shares of the technology company’s stock worth $12,438,000 after purchasing an additional 1,821 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its position in shares of International Business Machines by 1.5% in the first quarter. Baird Financial Group Inc. now owns 382,232 shares of the technology company’s stock worth $49,698,000 after buying an additional 5,506 shares in the last quarter. 56.16% of the stock is owned by hedge funds and other institutional investors.

International Business Machines Company Profile

(Get Free Report)

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through four business segments: Software, Consulting, Infrastructure, and Financing. The Software segment offers hybrid cloud platform and software solutions; software for business automation, AIOps and management, integration, and application servers; data and artificial intelligence solutions; and security software and services for threat, data, and identity.