International Business Machines (NYSE:IBM) Given New $160.00 Price Target at Wedbush

International Business Machines (NYSE:IBM) had its price target boosted by Wedbush from $140.00 to $160.00 in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

A number of other brokerages have also recently issued reports on IBM. Bank of America boosted their price objective on shares of International Business Machines from $200.00 to $220.00 and gave the company a buy rating in a report on Thursday, March 14th. UBS Group boosted their target price on shares of International Business Machines from $125.00 to $130.00 and gave the stock a sell rating in a report on Monday. StockNews.com downgraded shares of International Business Machines from a buy rating to a hold rating in a research note on Tuesday. Sanford C. Bernstein increased their price objective on shares of International Business Machines from $165.00 to $186.00 and gave the stock a market perform rating in a research note on Thursday, March 7th. Finally, Evercore upgraded shares of International Business Machines from an in-line rating to an outperform rating and increased their price objective for the stock from $165.00 to $200.00 in a research note on Friday, January 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, International Business Machines currently has a consensus rating of Hold and an average price target of $180.31.

International Business Machines Stock Down 1.2 %

Shares of IBM traded down $2.05 during mid-day trading on Thursday, hitting $166.86. 4,308,067 shares of the company’s stock were exchanged, compared to its average volume of 4,947,655. International Business Machines has a twelve month low of $120.55 and a twelve month high of $199.18. The firm has a fifty day moving average of $188.00 and a two-hundred day moving average of $169.97. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 2.22. The stock has a market cap of $152.97 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 3.62 and a beta of 0.70.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.09. International Business Machines had a net margin of 13.18% and a return on equity of 40.50%. The company had revenue of $14.46 billion during the quarter, compared to the consensus estimate of $14.53 billion. During the same period last year, the firm earned $1.36 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, sell-side analysts forecast that International Business Machines will post 10.04 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were issued a dividend of $1.66 per share. This represents a $6.64 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date was Thursday, February 8th. International Business Machines’s dividend payout ratio is 75.20%.

Institutional Investors Weigh In On International Business Machines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Naples Money Management LLC bought a new position in shares of International Business Machines in the fourth quarter worth approximately $28,000. Creekmur Asset Management LLC purchased a new stake in International Business Machines in the fourth quarter worth approximately $29,000. Briaud Financial Planning Inc purchased a new stake in International Business Machines in the third quarter worth approximately $31,000. Ables Iannone Moore & Associates Inc. purchased a new stake in International Business Machines in the fourth quarter worth approximately $31,000. Finally, Stone House Investment Management LLC boosted its stake in International Business Machines by 971.4% in the third quarter. Stone House Investment Management LLC now owns 225 shares of the technology company’s stock worth $32,000 after buying an additional 204 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

About International Business Machines

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.