International Business Machines (NYSE:IBM) Price Target Cut to $185.00

International Business Machines (NYSE:IBM) had its price objective decreased by analysts at JPMorgan Chase & Co. from $190.00 to $185.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 10.65% from the stock’s current price.

A number of other research analysts have also issued reports on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $190.00 price objective on shares of International Business Machines in a report on Wednesday, April 17th. Royal Bank of Canada increased their target price on shares of International Business Machines from $179.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, January 25th. Societe Generale reissued a “sell” rating and set a $143.00 target price on shares of International Business Machines in a research report on Friday, January 5th. BMO Capital Markets decreased their target price on shares of International Business Machines from $210.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday. Finally, Jefferies Financial Group decreased their target price on shares of International Business Machines from $215.00 to $210.00 and set a “hold” rating for the company in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $184.08.

International Business Machines Stock Down 1.0 %

Shares of NYSE IBM opened at $167.20 on Thursday. The company has a 50 day simple moving average of $187.60 and a 200 day simple moving average of $170.15. The firm has a market cap of $153.28 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 3.33 and a beta of 0.70. International Business Machines has a 1 year low of $120.55 and a 1 year high of $199.18. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.13 and a quick ratio of 0.93.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.09. The business had revenue of $14.46 billion during the quarter, compared to analyst estimates of $14.53 billion. International Business Machines had a net margin of 13.18% and a return on equity of 40.21%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business earned $1.36 EPS. On average, research analysts forecast that International Business Machines will post 9.99 EPS for the current year.

Hedge Funds Weigh In On International Business Machines

Several large investors have recently bought and sold shares of IBM. Advisory Alpha LLC lifted its stake in International Business Machines by 84.1% during the 3rd quarter. Advisory Alpha LLC now owns 7,356 shares of the technology company’s stock valued at $1,032,000 after acquiring an additional 3,361 shares in the last quarter. Secure Asset Management LLC bought a new position in International Business Machines during the 3rd quarter valued at $214,000. Asset Management One Co. Ltd. lifted its stake in International Business Machines by 2.1% during the 3rd quarter. Asset Management One Co. Ltd. now owns 529,406 shares of the technology company’s stock valued at $74,276,000 after acquiring an additional 11,016 shares in the last quarter. Benin Management CORP lifted its stake in International Business Machines by 1.8% during the 3rd quarter. Benin Management CORP now owns 5,593 shares of the technology company’s stock valued at $785,000 after acquiring an additional 100 shares in the last quarter. Finally, Aaron Wealth Advisors LLC lifted its stake in International Business Machines by 86.6% during the 3rd quarter. Aaron Wealth Advisors LLC now owns 307,827 shares of the technology company’s stock valued at $43,188,000 after acquiring an additional 142,886 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Company Profile

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.