Royal Bank of Canada Forecasts Strong Price Appreciation for International Business Machines (NYSE:IBM) Stock

International Business Machines (NYSE:IBM) had its target price hoisted by research analysts at Royal Bank of Canada from $276.00 to $285.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 6.86% from the company’s previous close.

A number of other analysts have also commented on the company. BMO Capital Markets reaffirmed a “market perform” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of International Business Machines in a research note on Wednesday, February 5th. Citigroup reiterated an “outperform” rating on shares of International Business Machines in a report on Saturday, May 10th. Jefferies Financial Group reissued a “hold” rating on shares of International Business Machines in a research note on Wednesday, April 23rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $300.00 target price on shares of International Business Machines in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.06.

International Business Machines Stock Performance

NYSE:IBM opened at $266.70 on Thursday. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $247.87 billion, a P/E ratio of 41.61, a price-to-earnings-growth ratio of 5.81 and a beta of 0.64. The firm has a 50-day moving average price of $243.74 and a two-hundred day moving average price of $236.27. International Business Machines has a twelve month low of $163.53 and a twelve month high of $267.98.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, April 23rd. The technology company reported $1.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 38.99% and a net margin of 9.60%. The firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. During the same period in the previous year, the firm posted $1.68 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. As a group, research analysts expect that International Business Machines will post 10.78 earnings per share for the current fiscal year.

Insider Transactions at International Business Machines

In other International Business Machines news, SVP Robert David Thomas sold 26,543 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $253.01, for a total value of $6,715,644.43. Following the transaction, the senior vice president now directly owns 45,007 shares of the company’s stock, valued at $11,387,221.07. This trade represents a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

Institutional Investors Weigh In On International Business Machines

Institutional investors and hedge funds have recently modified their holdings of the stock. Miracle Mile Advisors LLC grew its position in shares of International Business Machines by 138.0% during the fourth quarter. Miracle Mile Advisors LLC now owns 3,730 shares of the technology company’s stock worth $820,000 after buying an additional 2,163 shares in the last quarter. Ullmann Wealth Partners Group LLC boosted its position in shares of International Business Machines by 4.6% during the 4th quarter. Ullmann Wealth Partners Group LLC now owns 5,792 shares of the technology company’s stock valued at $1,273,000 after purchasing an additional 255 shares in the last quarter. Kathmere Capital Management LLC grew its stake in shares of International Business Machines by 91.3% in the 4th quarter. Kathmere Capital Management LLC now owns 3,506 shares of the technology company’s stock worth $771,000 after purchasing an additional 1,673 shares during the last quarter. Park Avenue Securities LLC raised its holdings in shares of International Business Machines by 14.5% in the 4th quarter. Park Avenue Securities LLC now owns 20,024 shares of the technology company’s stock worth $4,402,000 after purchasing an additional 2,529 shares in the last quarter. Finally, Burney Co. lifted its stake in International Business Machines by 1.8% during the fourth quarter. Burney Co. now owns 18,640 shares of the technology company’s stock valued at $4,098,000 after purchasing an additional 337 shares during the last quarter. 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.