International Business Machines (NYSE:IBM) Trading Up 1.4% – Here’s Why

Shares of International Business Machines Corporation (NYSE:IBM) traded up 1.4% during trading on Monday . The company traded as high as $296.82 and last traded at $296.5560. 3,714,496 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 4,271,986 shares. The stock had previously closed at $292.44.

Analyst Ratings Changes

A number of analysts recently issued reports on IBM shares. UBS Group reiterated a “sell” rating on shares of International Business Machines in a report on Tuesday, December 9th. Stifel Nicolaus lifted their target price on International Business Machines from $295.00 to $325.00 and gave the company a “buy” rating in a research report on Tuesday, December 9th. Evercore ISI upped their target price on International Business Machines from $315.00 to $330.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Jefferies Financial Group upgraded International Business Machines from a “hold” rating to a “buy” rating and raised their price target for the company from $300.00 to $360.00 in a research note on Monday, January 5th. Finally, Sanford C. Bernstein restated a “market perform” rating on shares of International Business Machines in a report on Wednesday, December 10th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $306.86.

International Business Machines Stock Up 1.4%

The company’s fifty day simple moving average is $302.13 and its 200-day simple moving average is $282.58. The firm has a market capitalization of $277.20 billion, a PE ratio of 35.47, a price-to-earnings-growth ratio of 2.83 and a beta of 0.70. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.93 and a quick ratio of 0.89.

Institutional Investors Weigh In On International Business Machines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Family CFO Inc purchased a new stake in International Business Machines during the 2nd quarter worth approximately $25,000. Winnow Wealth LLC acquired a new stake in shares of International Business Machines during the second quarter worth $27,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of International Business Machines during the third quarter valued at $28,000. SWAN Capital LLC acquired a new position in shares of International Business Machines in the 3rd quarter valued at $28,000. Finally, Trifecta Capital Advisors LLC increased its position in shares of International Business Machines by 129.1% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 126 shares of the technology company’s stock valued at $36,000 after acquiring an additional 71 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

About International Business Machines

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.