International Business Machines (NYSE:IBM) has been given a $170.00 price objective by research analysts at Goldman Sachs Group in a research report issued to clients and investors on Friday. The firm currently has a “neutral” rating on the technology company’s stock. Goldman Sachs Group’s target price would indicate a potential upside of 0.52% from the stock’s previous close.
IBM has been the subject of a number of other research reports. Cantor Fitzgerald reissued a “hold” rating and issued a $154.00 price objective on shares of International Business Machines in a report on Friday, October 13th. Stifel Nicolaus restated a “buy” rating and issued a $182.00 target price on shares of International Business Machines in a research report on Friday, October 6th. Royal Bank of Canada restated a “hold” rating and issued a $160.00 target price on shares of International Business Machines in a research report on Wednesday, November 15th. Vetr upgraded shares of International Business Machines from a “buy” rating to a “strong-buy” rating and set a $173.45 target price for the company in a research report on Wednesday, December 6th. Finally, Barclays upgraded shares of International Business Machines from an “underweight” rating to an “overweight” rating and boosted their target price for the company from $133.00 to $192.00 in a research report on Wednesday. Six equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $164.70.
Shares of International Business Machines (IBM) opened at $169.12 on Friday. The company has a quick ratio of 1.36, a current ratio of 1.41 and a debt-to-equity ratio of 2.09. The stock has a market cap of $151,690.00, a PE ratio of 14.12, a price-to-earnings-growth ratio of 2.46 and a beta of 0.94. International Business Machines has a twelve month low of $139.13 and a twelve month high of $182.79.
A number of hedge funds have recently added to or reduced their stakes in IBM. Herndon Capital Management LLC grew its holdings in International Business Machines by 39.0% during the 2nd quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock worth $107,000 after acquiring an additional 195 shares during the last quarter. Edge Wealth Management LLC grew its holdings in International Business Machines by 5.6% during the 2nd quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock worth $117,000 after acquiring an additional 40 shares during the last quarter. ETF Managers Group LLC bought a new stake in International Business Machines during the 2nd quarter worth approximately $121,000. Horan Capital Advisors LLC. bought a new stake in International Business Machines during the 3rd quarter worth approximately $136,000. Finally, Peddock Capital Advisors LLC grew its holdings in International Business Machines by 7.3% during the 2nd quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock worth $140,000 after acquiring an additional 62 shares during the last quarter. Institutional investors and hedge funds own 57.12% of the company’s stock.
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About International Business Machines
International Business Machines Corporation (IBM) is a technology company. The Company operates through five segments: Cognitive Solutions, Global Business Services (GBS), Technology Services & Cloud Platforms, Systems and Global Financing. The Cognitive Solutions segment delivers a spectrum of capabilities, from descriptive, predictive and prescriptive analytics to cognitive systems.
