International Business Machines Corp. Stock Rating Upgraded by Ned Davis Research (IBM)
International Business Machines Corp. (NYSE:IBM) was upgraded by Ned Davis Research from a “neutral” rating to a “buy” rating in a research note issued on Monday, Analyst RN reports.
International Business Machines Corp. (NYSE:IBM) traded up 1.31% on Monday, hitting $192.57. The stock had a trading volume of 3,778,611 shares. International Business Machines Corp. has a 52 week low of $172.19 and a 52 week high of $211.98. The stock has a 50-day moving average of $192. and a 200-day moving average of $184.6. The company has a market cap of $194.9 billion and a P/E ratio of 13.00.
International Business Machines Corp. (NYSE:IBM) last announced its earnings results on Wednesday, April 16th. The company reported $2.54 earnings per share for the quarter, meeting the analysts’ consensus estimate of $2.54. The company had revenue of $22.48 billion for the quarter, compared to the consensus estimate of $22.93 billion. During the same quarter last year, the company posted $3.00 earnings per share. International Business Machines Corp.’s revenue was down 3.9% compared to the same quarter last year. Analysts expect that International Business Machines Corp. will post $17.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, June 10th. Shareholders of record on Friday, May 9th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Wednesday, May 7th. This is a positive change from International Business Machines Corp.’s previous quarterly dividend of $0.95.
In other International Business Machines Corp. news, SVP Colleen Arnold sold 5,460 shares of the company’s stock on the open market in a transaction dated Monday, May 5th. The shares were sold at an average price of $191.07, for a total value of $1,043,242.20. Following the sale, the senior vice president now directly owns 23,849 shares in the company, valued at approximately $4,556,828. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
IBM has been the subject of a number of other recent research reports. Analysts at Sarasin downgraded shares of International Business Machines Corp. from a “buy” rating to a “neutral” rating in a research note on Thursday, April 24th. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of International Business Machines Corp. from $175.00 to $197.00 in a research note on Thursday, April 17th. They now have a “neutral” rating on the stock. Finally, analysts at Citigroup Inc. downgraded shares of International Business Machines Corp. from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 15th. They now have a $200.00 price target on the stock, down previously from $235.00. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $200.47.
International Business Machines Corporation (NYSE:IBM) is an information technology (IT) company.
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