Jefferies Financial Group Cuts International Business Machines (NYSE:IBM) Price Target to $210.00

International Business Machines (NYSE:IBM) had its price objective lowered by Jefferies Financial Group from $215.00 to $210.00 in a research report released on Tuesday morning, Benzinga reports. Jefferies Financial Group currently has a hold rating on the technology company’s stock.

Other equities research analysts have also recently issued reports about the stock. Bank of America increased their target price on shares of International Business Machines from $200.00 to $220.00 and gave the company a buy rating in a research report on Thursday, March 14th. Evercore upgraded shares of International Business Machines from an in-line rating to an outperform rating and increased their target price for the company from $165.00 to $200.00 in a research report on Friday, January 19th. Stifel Nicolaus restated a buy rating and set a $190.00 price objective on shares of International Business Machines in a research report on Wednesday, April 17th. Sanford C. Bernstein raised their price objective on shares of International Business Machines from $165.00 to $186.00 and gave the stock a market perform rating in a research report on Thursday, March 7th. Finally, UBS Group raised their price objective on shares of International Business Machines from $125.00 to $130.00 and gave the stock a sell rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $177.23.

International Business Machines Price Performance

Shares of NYSE IBM opened at $182.19 on Tuesday. The firm has a 50-day simple moving average of $188.35 and a 200-day simple moving average of $169.88. The stock has a market capitalization of $167.02 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 3.57 and a beta of 0.70. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 2.22. International Business Machines has a 52 week low of $120.55 and a 52 week high of $199.18.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, January 24th. The technology company reported $3.87 EPS for the quarter, beating analysts’ consensus estimates of $3.78 by $0.09. The business had revenue of $17.38 billion during the quarter, compared to analysts’ expectations of $17.29 billion. International Business Machines had a net margin of 12.13% and a return on equity of 39.55%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the business earned $3.60 earnings per share. On average, equities analysts predict that International Business Machines will post 10.04 earnings per share for the current fiscal year.

International Business Machines Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Saturday, March 9th. Shareholders of record on Friday, February 9th were paid a dividend of $1.66 per share. This represents a $6.64 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend was Thursday, February 8th. International Business Machines’s dividend payout ratio (DPR) is presently 81.67%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Charter Oak Capital Management LLC boosted its stake in International Business Machines by 8.4% during the first quarter. Charter Oak Capital Management LLC now owns 1,865 shares of the technology company’s stock worth $356,000 after buying an additional 144 shares during the period. BSW Wealth Partners boosted its stake in shares of International Business Machines by 1.9% in the first quarter. BSW Wealth Partners now owns 7,858 shares of the technology company’s stock valued at $1,501,000 after purchasing an additional 143 shares during the period. Precedent Wealth Partners LLC boosted its stake in shares of International Business Machines by 10.1% in the first quarter. Precedent Wealth Partners LLC now owns 3,421 shares of the technology company’s stock valued at $653,000 after purchasing an additional 315 shares during the period. Milestone Asset Management LLC purchased a new position in shares of International Business Machines in the first quarter valued at approximately $2,161,000. Finally, Global Retirement Partners LLC boosted its stake in shares of International Business Machines by 8.4% in the first quarter. Global Retirement Partners LLC now owns 20,127 shares of the technology company’s stock valued at $3,844,000 after purchasing an additional 1,568 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.

About International Business Machines

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.