International Business Machines (NYSE:IBM) Price Target Raised to $310.00

International Business Machines (NYSE:IBM) had its target price hoisted by The Goldman Sachs Group from $270.00 to $310.00 in a research report report published on Wednesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the technology company’s stock.

IBM has been the subject of several other research reports. Citigroup reissued an “outperform” rating on shares of International Business Machines in a research report on Saturday, May 10th. BMO Capital Markets reissued a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. UBS Group reissued a “sell” rating and issued a $170.00 price target (up previously from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Royal Bank Of Canada raised their price target on shares of International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. Finally, Wedbush lifted their price objective on shares of International Business Machines from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, June 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $257.50.

International Business Machines Stock Up 1.4%

International Business Machines stock opened at $291.66 on Wednesday. International Business Machines has a fifty-two week low of $173.95 and a fifty-two week high of $296.16. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The firm has a 50 day moving average price of $268.36 and a 200 day moving average price of $249.65. The company has a market capitalization of $271.06 billion, a PE ratio of 50.20, a price-to-earnings-growth ratio of 6.13 and a beta of 0.69.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.18. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same quarter last year, the firm earned $1.68 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. Research analysts expect that International Business Machines will post 10.78 earnings per share for the current year.

International Business Machines Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a $1.68 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.30%. International Business Machines’s payout ratio is 115.66%.

Institutional Investors Weigh In On International Business Machines

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital World Investors raised its holdings in shares of International Business Machines by 413.5% in the fourth quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock valued at $2,634,577,000 after buying an additional 9,650,534 shares during the last quarter. Norges Bank purchased a new stake in shares of International Business Machines in the fourth quarter valued at about $1,236,176,000. GAMMA Investing LLC raised its holdings in shares of International Business Machines by 29,564.2% in the first quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock valued at $10,940,520,000 after buying an additional 4,384,958 shares during the last quarter. GQG Partners LLC purchased a new stake in shares of International Business Machines in the first quarter valued at about $1,040,057,000. Finally, Nuveen LLC acquired a new position in shares of International Business Machines during the first quarter worth about $960,386,000. 58.96% of the stock is owned by hedge funds and other 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.