International Business Machines (NYSE:IBM) Lowered to “Hold” Rating by Wall Street Zen

International Business Machines (NYSE:IBM) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other equities analysts have also issued reports on the stock. Stifel Nicolaus lifted their target price on shares of International Business Machines from $295.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Sanford C. Bernstein reiterated a “market perform” rating on shares of International Business Machines in a research note on Wednesday, December 10th. Royal Bank Of Canada dropped their target price on International Business Machines from $315.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, October 23rd. Jefferies Financial Group raised their price target on International Business Machines from $280.00 to $305.00 and gave the company a “hold” rating in a report on Tuesday, October 21st. Finally, UBS Group reaffirmed a “sell” rating on shares of International Business Machines in a research report on Tuesday, December 9th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $293.38.

International Business Machines Stock Performance

Shares of IBM stock opened at $300.94 on Friday. The company’s fifty day moving average price is $301.03 and its 200-day moving average price is $279.56. The stock has a market cap of $281.30 billion, a PE ratio of 36.00, a price-to-earnings-growth ratio of 2.99 and a beta of 0.69. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 1.97. International Business Machines has a 12 month low of $214.50 and a 12 month high of $324.90.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, October 22nd. The technology company reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.45 by $0.20. International Business Machines had a net margin of 12.09% and a return on equity of 37.76%. The company had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.10 billion. During the same period last year, the company posted $2.30 EPS. International Business Machines’s revenue was up 9.1% on a year-over-year basis. On average, equities analysts expect that International Business Machines will post 10.78 EPS for the current fiscal year.

Institutional Investors Weigh In On International Business Machines

Several large investors have recently bought and sold shares of the business. Family CFO Inc purchased a new stake in shares of International Business Machines during the 2nd quarter valued at about $25,000. Winnow Wealth LLC bought a new position in International Business Machines during the second quarter valued at approximately $27,000. Mountain Hill Investment Partners Corp. purchased a new stake in International Business Machines in the third quarter worth approximately $28,000. SWAN Capital LLC bought a new stake in International Business Machines in the 3rd quarter worth approximately $28,000. Finally, Highline Wealth Partners LLC raised its stake in International Business Machines by 85.0% during the 2nd quarter. Highline Wealth Partners LLC now owns 111 shares of the technology company’s stock valued at $33,000 after buying an additional 51 shares during the last quarter. 58.96% of the stock is currently owned by institutional investors.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.