International Business Machines Corp.’s (IBM) Sector Perform Rating Reaffirmed at RBC Capital Markets
International Business Machines Corp. (NYSE:IBM)‘s stock had its “sector perform” rating reissued by RBC Capital Markets in a report issued on Tuesday. They presently have a $165.00 target price on the technology company’s stock. RBC Capital Markets’ price target indicates a potential upside of 6.61% from the stock’s previous close.
A number of other brokerages have also recently commented on IBM. Vetr raised shares of International Business Machines Corp. from a “sell” rating to a “hold” rating and set a $156.55 target price for the company in a report on Monday, August 29th. Cantor Fitzgerald reiterated a “hold” rating and issued a $162.00 price target on shares of International Business Machines Corp. in a research report on Monday, September 12th. Societe Generale upgraded shares of International Business Machines Corp. from a “sell” rating to a “hold” rating in a research report on Monday, September 26th. Morgan Stanley dropped their price target on shares of International Business Machines Corp. from $182.00 to $179.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Cowen and Company reiterated an “outperform” rating on shares of International Business Machines Corp. in a research report on Wednesday, July 20th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $154.06.
Shares of International Business Machines Corp. (NYSE:IBM) traded down 2.7425% during trading on Tuesday, reaching $150.5255. 10,138,365 shares of the company were exchanged. International Business Machines Corp. has a 1-year low of $116.90 and a 1-year high of $165.00. The stock’s 50 day moving average is $156.75 and its 200 day moving average is $154.35. The company has a market capitalization of $143.88 billion, a price-to-earnings ratio of 12.2408 and a beta of 0.88.
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International Business Machines Corp. (NYSE:IBM) last announced its earnings results on Monday, October 17th. The technology company reported $3.29 EPS for the quarter, beating the Zacks’ consensus estimate of $3.24 by $0.05. International Business Machines Corp. had a net margin of 14.86% and a return on equity of 88.92%. The business earned $19.23 billion during the quarter, compared to analysts’ expectations of $19 billion. During the same period in the prior year, the company earned $3.34 earnings per share. The firm’s revenue was down .3% on a year-over-year basis. Equities analysts anticipate that International Business Machines Corp. will post $13.51 earnings per share for the current year.
In other news, insider Robert J. Leblanc sold 15,708 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $162.25, for a total value of $2,548,623.00. Following the sale, the insider now directly owns 61,374 shares in the company, valued at approximately $9,957,931.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert J. Picciano sold 1,922 shares of the firm’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $159.16, for a total transaction of $305,905.52. Following the completion of the sale, the insider now owns 35,861 shares in the company, valued at $5,707,636.76. The disclosure for this sale can be found here. 0.08% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Sun Life Financial INC purchased a new stake in International Business Machines Corp. during the first quarter worth $45,284,000. Roble Belko & Company Inc boosted its stake in International Business Machines Corp. by 2.9% in the second quarter. Roble Belko & Company Inc now owns 674 shares of the technology company’s stock worth $102,000 after buying an additional 19 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. purchased a new stake in International Business Machines Corp. during the second quarter worth $105,000. Cypress Capital Management LLC WY purchased a new stake in International Business Machines Corp. during the second quarter worth $107,000. Finally, Jackson Grant Investment Advisers Inc. boosted its stake in International Business Machines Corp. by 0.7% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 726 shares of the technology company’s stock worth $110,000 after buying an additional 5 shares in the last quarter. Institutional investors and hedge funds own 57.63% of the company’s stock.
International Business Machines Corp. Company Profile
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Global Technology Services (GTS), Global Business Services (GBS), Software, Systems Hardware and Global Financing. The Company’s GTS segment offers services, including strategic outsourcing, integrated technology services, cloud and technology support services (maintenance services).
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