International Business Machines (NYSE:IBM) had its target price hoisted by Morgan Stanley to $198.00 in a report issued on Friday, The Fly reports. The firm presently has an “overweight” rating on the technology company’s stock. Morgan Stanley’s target price suggests a potential upside of 21.94% from the company’s previous close.
A number of other research analysts have also recently commented on the company. Wedbush reiterated a “neutral” rating and issued a $185.00 price objective (up from $155.00) on shares of International Business Machines in a report on Thursday. They noted that the move was a valuation call. Barclays upgraded International Business Machines from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $133.00 to $192.00 in a research note on Wednesday. Societe Generale set a $152.00 price target on International Business Machines and gave the stock a “sell” rating in a research note on Friday, January 12th. BMO Capital Markets restated a “hold” rating and set a $175.00 price target on shares of International Business Machines in a research note on Thursday, January 11th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded International Business Machines from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. Six analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $164.51.
International Business Machines (NYSE:IBM) traded down $6.75 on Friday, reaching $162.37. The company had a trading volume of 21,170,000 shares, compared to its average volume of 5,380,000. International Business Machines has a 12-month low of $139.13 and a 12-month high of $182.79. The firm has a market capitalization of $150,320.00, a PE ratio of 13.55, a PEG ratio of 2.46 and a beta of 0.94. The company has a quick ratio of 1.36, a current ratio of 1.41 and a debt-to-equity ratio of 2.09.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Herndon Capital Management LLC grew its holdings in shares of International Business Machines by 39.0% during the second quarter. Herndon Capital Management LLC now owns 695 shares of the technology company’s stock worth $107,000 after purchasing an additional 195 shares during the last quarter. Edge Wealth Management LLC grew its holdings in shares of International Business Machines by 5.6% during the second quarter. Edge Wealth Management LLC now owns 760 shares of the technology company’s stock worth $117,000 after purchasing an additional 40 shares during the last quarter. ETF Managers Group LLC purchased a new position in shares of International Business Machines during the second quarter worth about $121,000. Horan Capital Advisors LLC. purchased a new position in shares of International Business Machines during the third quarter worth about $136,000. Finally, Peddock Capital Advisors LLC grew its holdings in shares of International Business Machines by 7.3% during the second quarter. Peddock Capital Advisors LLC now owns 912 shares of the technology company’s stock worth $140,000 after purchasing 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.
