International Business Machines (NYSE:IBM – Get Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.
Other research analysts have also issued reports about the company. Evercore ISI boosted their price objective on International Business Machines from $125.00 to $135.00 and gave the stock an “inline” rating in a research note on Thursday. BMO Capital Markets reduced their price objective on International Business Machines from $152.00 to $148.00 in a research report on Tuesday, July 19th. Stifel Nicolaus lowered their price target on International Business Machines from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday. Societe Generale decreased their price objective on shares of International Business Machines to $129.00 in a research note on Tuesday, September 13th. Finally, UBS Group cut their price target on International Business Machines from $112.00 to $111.00 and set a “sell” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $139.40.
International Business Machines Stock Performance
IBM traded up $1.60 during trading on Friday, reaching $129.90. The company’s stock had a trading volume of 7,175,307 shares, compared to its average volume of 5,150,234. The company’s fifty day moving average price is $126.93 and its 200-day moving average price is $132.02. International Business Machines has a 52-week low of $114.56 and a 52-week high of $144.73. The company has a debt-to-equity ratio of 2.28, a quick ratio of 0.82 and a current ratio of 0.88. The company has a market capitalization of $117.32 billion, a price-to-earnings ratio of 94.82, a price-to-earnings-growth ratio of 1.89 and a beta of 0.84.
International Business Machines (NYSE:IBM – Get Rating) last issued its quarterly earnings data on Wednesday, October 19th. The technology company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.03. International Business Machines had a return on equity of 43.52% and a net margin of 8.72%. The firm had revenue of $14.11 billion during the quarter, compared to the consensus estimate of $13.55 billion. During the same period in the previous year, the firm posted $2.52 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities analysts forecast that International Business Machines will post 9.29 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, Director David N. Farr bought 1,000 shares of the stock in a transaction on Thursday, September 15th. The stock was purchased at an average price of $125.00 per share, with a total value of $125,000.00. Following the completion of the purchase, the director now owns 1,000 shares of the company’s stock, valued at $125,000. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.04% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Summit Financial Strategies Inc. raised its holdings in shares of International Business Machines by 9.1% during the 3rd quarter. Summit Financial Strategies Inc. now owns 1,850 shares of the technology company’s stock valued at $220,000 after buying an additional 154 shares in the last quarter. Trilogy Capital Inc. lifted its holdings in shares of International Business Machines by 16.0% in the 3rd quarter. Trilogy Capital Inc. now owns 13,404 shares of the technology company’s stock worth $1,593,000 after acquiring an additional 1,846 shares during the last quarter. Ronald Blue Trust Inc. grew its holdings in shares of International Business Machines by 9.0% during the 3rd quarter. Ronald Blue Trust Inc. now owns 12,354 shares of the technology company’s stock valued at $1,744,000 after purchasing an additional 1,017 shares during the last quarter. Hodges Capital Management Inc. lifted its stake in International Business Machines by 3.1% in the third quarter. Hodges Capital Management Inc. now owns 6,723 shares of the technology company’s stock worth $799,000 after purchasing an additional 201 shares during the last quarter. Finally, NuWave Investment Management LLC bought a new position in International Business Machines during the 3rd quarter worth approximately $469,000. Institutional investors own 55.52% of the company’s stock.
International Business Machines Company Profile
International Business Machines Corporation 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, such as Red Hat, an enterprise open-source 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.