International Business Machines (NYSE:IBM) Given New $325.00 Price Target at Wedbush

International Business Machines (NYSE:IBMGet Free Report) had its price objective raised by investment analysts at Wedbush from $300.00 to $325.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Wedbush’s price target indicates a potential upside of 15.79% from the stock’s current price.

A number of other research firms also recently commented on IBM. Erste Group Bank raised shares of International Business Machines from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 17th. Wall Street Zen downgraded shares of International Business Machines from a “buy” rating to a “hold” rating in a research report on Wednesday, May 21st. Bank of America lifted their target price on shares of International Business Machines from $290.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday. BMO Capital Markets reissued a “market perform” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. Finally, Jefferies Financial Group reissued a “hold” rating on shares of International Business Machines in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $253.75.

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International Business Machines Price Performance

Shares of NYSE IBM opened at $280.67 on Friday. International Business Machines has a twelve month low of $170.41 and a twelve month high of $286.91. The firm has a market cap of $260.85 billion, a P/E ratio of 48.31, a PEG ratio of 5.90 and a beta of 0.66. The company has a 50 day moving average of $257.71 and a 200 day moving average of $245.64. The company has a quick ratio of 0.97, a current ratio of 1.01 and a debt-to-equity ratio of 2.09.

International Business Machines (NYSE:IBMGet Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.18. International Business Machines had a net margin of 8.71% and a return on equity of 37.43%. The company had revenue of $14.54 billion during the quarter, compared to analyst estimates of $14.41 billion. During the same period in the previous year, the business earned $1.68 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. As a group, research analysts expect that International Business Machines will post 10.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Capital World Investors lifted its stake in International Business Machines by 413.5% in the 4th quarter. Capital World Investors now owns 11,984,609 shares of the technology company’s stock worth $2,634,577,000 after purchasing an additional 9,650,534 shares in the last quarter. Norges Bank purchased a new stake in International Business Machines in the 4th quarter worth $1,236,176,000. GAMMA Investing LLC lifted its stake in International Business Machines by 29,564.2% in the 1st quarter. GAMMA Investing LLC now owns 4,399,790 shares of the technology company’s stock worth $10,940,520,000 after purchasing an additional 4,384,958 shares in the last quarter. GQG Partners LLC purchased a new stake in shares of International Business Machines during the 1st quarter valued at about $1,040,057,000. Finally, Nuveen LLC purchased a new stake in shares of International Business Machines during the 1st quarter valued at about $960,386,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Company Profile

(Get Free Report)

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.

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