International Business Machines (NYSE:IBM – Get Free Report) had its price objective decreased by stock analysts at Morgan Stanley from $135.00 to $130.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price target would suggest a potential downside of 7.12% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the company. Bank of America increased their price objective on International Business Machines from $152.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, July 20th. Stifel Nicolaus upped their price objective on International Business Machines from $140.00 to $144.00 and gave the stock a “buy” rating in a research report on Thursday, July 20th. BMO Capital Markets boosted their target price on International Business Machines from $145.00 to $150.00 and gave the stock a “market perform” rating in a research note on Monday, July 17th. StockNews.com downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research note on Friday, October 13th. Finally, Wedbush reiterated a “neutral” rating and set a $140.00 price objective on shares of International Business Machines in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $146.25.
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International Business Machines Stock Down 0.2 %
International Business Machines (NYSE:IBM – Get Free Report) last released its earnings results on Wednesday, July 19th. The technology company reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.18. The business had revenue of $15.48 billion for the quarter, compared to analyst estimates of $15.58 billion. International Business Machines had a return on equity of 38.10% and a net margin of 3.35%. International Business Machines’s revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.31 earnings per share. Research analysts anticipate that International Business Machines will post 9.43 earnings per share for the current fiscal year.
Institutional Investors Weigh In On International Business Machines
A number of hedge funds have recently added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of International Business Machines by 138,904.7% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 17,781,486 shares of the technology company’s stock worth $2,379,341,000 after acquiring an additional 17,768,694 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position in International Business Machines by 98,797.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 11,029,001 shares of the technology company’s stock worth $1,553,876,000 after purchasing an additional 11,017,849 shares in the last quarter. Norges Bank purchased a new position in shares of International Business Machines in the 4th quarter worth approximately $876,014,000. Morgan Stanley increased its position in shares of International Business Machines by 22.8% during the 4th quarter. Morgan Stanley now owns 16,592,094 shares of the technology company’s stock valued at $2,337,660,000 after purchasing an additional 3,084,458 shares during the last quarter. Finally, Providence Capital Advisors LLC raised its stake in shares of International Business Machines by 13,609.0% during the 1st quarter. Providence Capital Advisors LLC now owns 2,829,537 shares of the technology company’s stock worth $21,584,000 after purchasing an additional 2,808,897 shares during the period. Institutional investors and hedge funds own 56.16% of the company’s stock.
About International Business Machines
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.
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