International Business Machines’ (IBM) “Outperform” Rating Reaffirmed at Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of International Business Machines (NYSE:IBM) in a report issued on Tuesday, MarketBeat.com reports. They currently have a $350.00 price objective on the technology company’s stock, up from their prior price objective of $320.00.

Several other equities research analysts have also recently issued reports on the stock. Stifel Nicolaus set a $290.00 target price on shares of International Business Machines in a report on Friday, May 22nd. Roth Capital reissued a “buy” rating on shares of International Business Machines in a research note on Wednesday, June 3rd. Royal Bank Of Canada reissued an “outperform” rating on shares of International Business Machines in a report on Tuesday, June 23rd. Jefferies Financial Group initiated coverage on International Business Machines in a report on Tuesday, June 23rd. They issued a “buy” rating on the stock. Finally, Weiss Ratings downgraded shares of International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 24th. Fourteen analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $307.17.

International Business Machines Stock Down 25.4%

NYSE IBM opened at $216.59 on Tuesday. International Business Machines has a 1 year low of $212.34 and a 1 year high of $332.46. The stock has a market capitalization of $203.57 billion, a PE ratio of 19.15, a PEG ratio of 2.80 and a beta of 0.68. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.80 and a quick ratio of 0.76. The business’s 50-day moving average is $264.70 and its 200 day moving average is $265.20.

International Business Machines (NYSE:IBM) last released its quarterly earnings results on Wednesday, April 22nd. The technology company reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.10. The business had revenue of $15.92 billion during the quarter, compared to analyst estimates of $15.60 billion. International Business Machines had a return on equity of 37.23% and a net margin of 15.61%.International Business Machines’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.60 EPS. Sell-side analysts forecast that International Business Machines will post 12.45 earnings per share for the current year.

International Business Machines Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Friday, May 8th were paid a dividend of $1.69 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.68. This represents a $6.76 annualized dividend and a dividend yield of 3.1%. The ex-dividend date was Friday, May 8th. International Business Machines’s payout ratio is 59.77%.

Institutional Trading of International Business Machines

A number of hedge funds have recently bought and sold shares of IBM. Vanguard Group Inc. lifted its stake in shares of International Business Machines by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company’s stock worth $28,796,390,000 after purchasing an additional 1,439,824 shares during the last quarter. State Street Corp increased its holdings in shares of International Business Machines by 1.0% in the fourth quarter. State Street Corp now owns 54,996,293 shares of the technology company’s stock valued at $16,290,452,000 after purchasing an additional 518,321 shares during the period. Geode Capital Management LLC raised its position in International Business Machines by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 22,605,083 shares of the technology company’s stock worth $6,679,105,000 after buying an additional 336,069 shares during the last quarter. Capital World Investors boosted its holdings in International Business Machines by 29.2% in the fourth quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock valued at $6,523,720,000 after purchasing an additional 4,976,756 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in International Business Machines by 7.0% during the first quarter. Bank of America Corp DE now owns 16,063,653 shares of the technology company’s stock worth $3,893,669,000 after buying an additional 1,049,602 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

More International Business Machines News

Here are the key news stories impacting International Business Machines this week:

• Negative Sentiment: IBM reported preliminary Q2 revenue of about $17.2 billion and adjusted EPS of $2.93, both below estimates, raising concerns about near-term growth and execution. Reuters: IBM expects second-quarter revenue below estimates
• Negative Sentiment: CEO Arvind Krishna said the company “faltered,” citing delayed deal closures and customers shifting budgets toward AI infrastructure and memory chips, which hurt software and infrastructure sales. CNBC: IBM warns second-quarter earnings fell short of expectations
• Negative Sentiment: The warning is dragging other software and IT services names lower, reinforcing fears that enterprise spending is moving away from traditional software vendors and toward AI hardware/cybersecurity. Investor’s Business Daily: Stock Market Jumps As Inflation Eases; IBM Warns

About International Business Machines

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.