International Business Machines Corporation (NYSE:IBM) Receives $259.06 Average Price Target from Brokerages

International Business Machines Corporation (NYSE:IBM) has been given an average recommendation of “Moderate Buy” by the nineteen research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation, eight have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $259.06.

IBM has been the subject of a number of research analyst reports. Royal Bank Of Canada upped their target price on shares of International Business Machines from $276.00 to $285.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. The Goldman Sachs Group upped their target price on shares of International Business Machines from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Citigroup reaffirmed an “outperform” rating on shares of International Business Machines in a research note on Saturday, May 10th. Bank of America increased their price objective on shares of International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday, June 18th. Finally, KGI Securities set a $242.00 price objective on shares of International Business Machines and gave the stock a “hold” rating in a research note on Thursday, April 24th.

Hedge Funds Weigh In On International Business Machines

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in International Business Machines by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 93,137,767 shares of the technology company’s stock worth $23,159,637,000 after purchasing an additional 1,298,515 shares during the period. Geode Capital Management LLC grew its position in shares of International Business Machines by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 20,909,646 shares of the technology company’s stock valued at $4,589,145,000 after acquiring an additional 427,499 shares during the period. Capital World Investors grew its position in shares of International Business Machines by 413.5% during the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock valued at $2,634,577,000 after acquiring an additional 9,650,534 shares during the period. Northern Trust Corp lifted its stake in shares of International Business Machines by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,845,993 shares of the technology company’s stock valued at $2,384,275,000 after buying an additional 1,704,209 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of International Business Machines by 6.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,636,725 shares of the technology company’s stock valued at $2,147,608,000 after buying an additional 524,633 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

International Business Machines Stock Down 0.4%

NYSE:IBM opened at $282.62 on Friday. The stock’s fifty day moving average price is $274.53 and its two-hundred day moving average price is $252.94. International Business Machines has a 52-week low of $181.81 and a 52-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 company has a market cap of $262.67 billion, a price-to-earnings ratio of 48.64, a P/E/G ratio of 5.96 and a beta of 0.69.

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

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were issued a $1.68 dividend. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.38%. International Business Machines’s dividend payout ratio (DPR) is 115.66%.

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.