Bank of America Raises International Business Machines (NYSE:IBM) Price Target to $250.00

International Business Machines (NYSE:IBM) had its target price hoisted by Bank of America from $209.00 to $250.00 in a report issued on Wednesday morning, Benzinga reports. Bank of America currently has a buy rating on the technology company’s stock.

Other equities analysts have also recently issued research reports about the company. UBS Group boosted their target price on International Business Machines from $130.00 to $145.00 and gave the stock a sell rating in a research report on Wednesday, September 4th. Evercore ISI raised their target price on International Business Machines from $215.00 to $240.00 and gave the company an outperform rating in a report on Wednesday, September 11th. Hsbc Global Res raised shares of International Business Machines to a moderate sell rating in a research note on Friday, July 26th. Royal Bank of Canada increased their price target on shares of International Business Machines from $200.00 to $211.00 and gave the company an outperform rating in a report on Thursday, July 25th. Finally, StockNews.com upgraded shares of International Business Machines from a hold rating to a buy rating in a research report on Wednesday, June 19th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, International Business Machines presently has an average rating of Hold and a consensus price target of $198.41.

International Business Machines Stock Up 0.1 %

International Business Machines stock opened at $233.34 on Wednesday. The stock has a market capitalization of $214.94 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 5.21 and a beta of 0.70. The company has a current ratio of 1.12, a quick ratio of 1.08 and a debt-to-equity ratio of 2.20. The stock has a 50 day moving average of $207.67 and a two-hundred day moving average of $187.65. International Business Machines has a twelve month low of $135.87 and a twelve month high of $235.83.

International Business Machines (NYSE:IBM) last posted its quarterly earnings data 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 firm had revenue of $15.77 billion for the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. International Business Machines’s quarterly revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $2.18 EPS. As a group, research analysts expect that International Business Machines will post 10.1 earnings per share for the current year.

International Business Machines Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 annualized dividend and a dividend yield of 2.86%. International Business Machines’s dividend payout ratio is currently 73.65%.

Institutional Investors Weigh In On International Business Machines

Several hedge funds have recently modified their holdings of the company. FPC Investment Advisory Inc. purchased a new position in International Business Machines during the first quarter worth about $26,000. ESL Trust Services LLC purchased a new position in shares of International Business Machines during the 1st quarter worth about $28,000. Creekmur Asset Management LLC acquired a new stake in shares of International Business Machines in the fourth quarter worth approximately $29,000. Ables Iannone Moore & Associates Inc. purchased a new stake in International Business Machines in the fourth quarter valued at approximately $31,000. Finally, Financial Synergies Wealth Advisors Inc. increased its position in International Business Machines by 164.0% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 198 shares of the technology company’s stock worth $38,000 after purchasing an additional 123 shares during the last quarter. 58.96% of the stock is owned by institutional investors and hedge funds.

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.