Stifel Nicolaus Raises International Business Machines (NYSE:IBM) Price Target to $246.00

International Business Machines (NYSE:IBM) had its target price upped by Stifel Nicolaus from $205.00 to $246.00 in a report released on Wednesday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the technology company’s stock.

Several other analysts have also recently issued reports on the company. Hsbc Global Res upgraded International Business Machines to a “moderate sell” rating in a research report on Friday, July 26th. Bernstein Bank upped their price target on International Business Machines from $185.00 to $210.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. 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, July 25th. DZ Bank lowered shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 target price for the company. in a research report on Wednesday, October 2nd. Finally, The Goldman Sachs Group lifted their price target on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a report on Monday, September 30th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $203.06.

International Business Machines Trading Down 0.3 %

International Business Machines stock opened at $232.22 on Wednesday. International Business Machines has a 12-month low of $135.87 and a 12-month high of $237.37. The firm has a market capitalization of $213.32 billion, a price-to-earnings ratio of 26.30, a P/E/G ratio of 5.21 and a beta of 0.70. The firm has a 50 day moving average of $212.19 and a 200 day moving average of $189.15. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The firm had revenue of $15.77 billion during the quarter, compared to analysts’ expectations of $15.62 billion. During the same period in the prior year, the company posted $2.18 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. As a group, research analysts predict that International Business Machines will post 10.1 earnings per share for the current year.

International Business Machines Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a dividend of $1.67 per share. This represents a $6.68 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Friday, August 9th. International Business Machines’s payout ratio is 75.65%.

Institutional Investors Weigh In On International Business Machines

Several hedge funds and other institutional investors have recently made changes to their positions in the company. FPC Investment Advisory Inc. bought a new position in International Business Machines during the 1st quarter valued at about $26,000. ESL Trust Services LLC bought a new position in shares of International Business Machines during the first quarter valued at approximately $28,000. Financial Synergies Wealth Advisors Inc. raised its holdings in shares of International Business Machines by 164.0% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after buying an additional 123 shares during the period. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of International Business Machines during the 2nd quarter worth approximately $36,000. Finally, Wolff Wiese Magana LLC boosted its holdings in International Business Machines by 37.0% during the 2nd quarter. Wolff Wiese Magana LLC now owns 222 shares of the technology company’s stock valued at $38,000 after acquiring an additional 60 shares during the period. Hedge funds and other institutional investors 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.