International Business Machines (NYSE:IBM) Price Target Raised to $211.00 at Royal Bank of Canada

International Business Machines (NYSE:IBM) had its price target lifted by Royal Bank of Canada from $200.00 to $211.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

A number of other research analysts also recently weighed in on IBM. Wedbush raised their target price on shares of International Business Machines from $140.00 to $160.00 and gave the company a neutral rating in a research report on Thursday, April 25th. Morgan Stanley decreased their price objective on shares of International Business Machines from $186.00 to $179.00 and set an equal weight rating for the company in a research report on Friday, April 26th. Jefferies Financial Group lifted their price objective on shares of International Business Machines from $190.00 to $200.00 and gave the company a hold rating in a research report on Thursday. UBS Group lifted their price objective on shares of International Business Machines from $125.00 to $130.00 and gave the company a sell rating in a research report on Monday, April 22nd. Finally, The Goldman Sachs Group assumed coverage on shares of International Business Machines in a research report on Monday, June 24th. They issued a buy rating and a $200.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $184.93.

International Business Machines Stock Down 0.1 %

Shares of IBM stock opened at $191.75 on Thursday. The company has a market capitalization of $176.14 billion, a price-to-earnings ratio of 21.72, a P/E/G ratio of 4.69 and a beta of 0.71. International Business Machines has a 12-month low of $135.87 and a 12-month high of $199.18. The firm has a fifty day moving average of $174.75 and a 200-day moving average of $179.38. The company has a quick ratio of 1.09, a current ratio of 1.12 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last released its earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion during the quarter, compared to the consensus estimate of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.18 earnings per share. As a group, equities research analysts predict that International Business Machines will post 10.06 earnings per share for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were paid a $1.67 dividend. This is a boost from International Business Machines’s previous quarterly dividend of $1.66. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $6.68 annualized dividend and a yield of 3.48%. International Business Machines’s payout ratio is 75.65%.

Institutional Trading of International Business Machines

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vontobel Holding Ltd. raised its stake in International Business Machines by 20.3% in the 4th quarter. Vontobel Holding Ltd. now owns 477,193 shares of the technology company’s stock worth $78,045,000 after purchasing an additional 80,474 shares in the last quarter. Tsfg LLC raised its stake in International Business Machines by 40.5% in the 4th quarter. Tsfg LLC now owns 378 shares of the technology company’s stock worth $62,000 after purchasing an additional 109 shares in the last quarter. Auxano Advisors LLC raised its stake in International Business Machines by 4.8% in the 4th quarter. Auxano Advisors LLC now owns 3,398 shares of the technology company’s stock worth $556,000 after purchasing an additional 156 shares in the last quarter. West Family Investments Inc. increased its holdings in International Business Machines by 7.6% in the 4th quarter. West Family Investments Inc. now owns 2,736 shares of the technology company’s stock valued at $447,000 after buying an additional 194 shares during the period. Finally, Mosley Wealth Management bought a new position in International Business Machines in the 4th quarter valued at about $312,000. Institutional investors and hedge funds own 58.96% of the company’s stock.

International Business Machines Company Profile

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.