International Business Machines (NYSE:IBM) Given New $290.00 Price Target at Stifel Nicolaus

International Business Machines (NYSE:IBM) had its price objective dropped by Stifel Nicolaus from $340.00 to $290.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the technology company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 17.91% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. UBS Group raised shares of International Business Machines from a “sell” rating to a “neutral” rating and set a $236.00 target price on the stock in a research report on Wednesday, February 25th. BMO Capital Markets lowered their price target on shares of International Business Machines from $350.00 to $290.00 and set a “market perform” rating on the stock in a report on Thursday, March 19th. Royal Bank Of Canada set a $361.00 price target on shares of International Business Machines in a report on Thursday, January 29th. Jefferies Financial Group reaffirmed a “buy” rating on shares of International Business Machines in a report on Monday, February 23rd. Finally, Evercore lifted their price target on shares of International Business Machines from $330.00 to $345.00 and gave the stock an “outperform” rating in a report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $311.27.

International Business Machines Stock Performance

Shares of International Business Machines stock traded up $0.88 during mid-day trading on Wednesday, hitting $245.95. 811,158 shares of the stock were exchanged, compared to its average volume of 5,661,253. International Business Machines has a 12 month low of $215.16 and a 12 month high of $324.90. The company has a 50-day simple moving average of $258.23 and a 200 day simple moving average of $283.92. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.92 and a current ratio of 0.96. The company has a market capitalization of $230.71 billion, a P/E ratio of 22.06, a P/E/G ratio of 2.47 and a beta of 0.69.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, January 28th. The technology company reported $4.52 EPS for the quarter, topping the consensus estimate of $4.33 by $0.19. International Business Machines had a net margin of 15.69% and a return on equity of 38.15%. The firm had revenue of $19.69 billion for the quarter, compared to analysts’ expectations of $19.23 billion. During the same quarter last year, the firm earned $3.92 EPS. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. Sell-side analysts anticipate that International Business Machines will post 10.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other International Business Machines news, Director David N. Farr bought 1,000 shares of the stock in a transaction on Friday, January 30th. The shares were acquired at an average price of $304.00 per share, with a total value of $304,000.00. Following the acquisition, the director directly owned 9,258 shares of the company’s stock, valued at $2,814,432. The trade was a 12.11% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Miebach purchased 434 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The stock was purchased at an average cost of $233.33 per share, for a total transaction of $101,265.22. Following the acquisition, the director owned 434 shares of the company’s stock, valued at approximately $101,265.22. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired a total of 1,484 shares of company stock worth $417,157 in the last three months. Insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IBM. Family CFO Inc bought a new position in shares of International Business Machines in the fourth quarter worth $25,000. Basepoint Wealth LLC bought a new position in International Business Machines in the fourth quarter valued at $25,000. Mountain Hill Investment Partners Corp. bought a new position in International Business Machines in the third quarter valued at $28,000. Joseph Group Capital Management bought a new position in International Business Machines in the fourth quarter valued at $28,000. Finally, Cornerstone Financial Management LLC bought a new position in International Business Machines in the fourth quarter valued at $28,000. Institutional investors own 58.96% of the company’s stock.

International Business Machines Company Profile

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.