International Business Machines (NYSE:IBM) Price Target Raised to $290.00 at Bank of America

International Business Machines (NYSE:IBM) had its target price lifted by Bank of America from $270.00 to $290.00 in a research note released on Monday morning,Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

Other equities research analysts also recently issued reports about the stock. Oppenheimer initiated coverage on shares of International Business Machines in a research note on Tuesday, February 11th. They issued an “outperform” rating and a $320.00 target price on the stock. Royal Bank of Canada raised their price objective on shares of International Business Machines from $276.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. UBS Group reiterated a “sell” rating and issued a $170.00 target price (up from $160.00) on shares of International Business Machines in a research report on Wednesday, April 23rd. Wedbush restated an “outperform” rating and set a $300.00 price target on shares of International Business Machines in a research report on Wednesday, May 7th. Finally, KGI Securities set a $242.00 price target on International Business Machines and gave the stock a “hold” rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $250.31.

International Business Machines Price Performance

Shares of NYSE:IBM opened at $272.13 on Monday. The company has a 50 day moving average of $248.62 and a 200 day moving average of $242.46. 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 stock has a market cap of $252.92 billion, a P/E ratio of 42.45, a P/E/G ratio of 5.81 and a beta of 0.66. International Business Machines has a 12 month low of $166.81 and a 12 month high of $273.47.

International Business Machines (NYSE:IBM) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.42 by $0.18. The firm had revenue of $14.54 billion during the quarter, compared to the consensus estimate of $14.41 billion. International Business Machines had a net margin of 9.60% and a return on equity of 38.99%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm earned $1.68 EPS. As a group, sell-side analysts forecast that International Business Machines will post 10.78 EPS for the current fiscal year.

International Business Machines Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be given a dividend of $1.68 per share. This is a positive change from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 dividend on an annualized basis and a yield of 2.47%. International Business Machines’s dividend payout ratio is presently 115.66%.

Institutional Investors Weigh In On International Business Machines

Large investors have recently made changes to their positions in the business. Tallon Kerry Patrick bought a new position in International Business Machines in the 4th quarter worth $902,000. Brighton Jones LLC increased its position in shares of International Business Machines by 12.4% during the fourth quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock valued at $4,619,000 after buying an additional 2,323 shares during the period. Wealthstar Advisors LLC bought a new position in International Business Machines in the fourth quarter worth about $694,000. Stone Summit Wealth LLC lifted its holdings in International Business Machines by 21.2% in the fourth quarter. Stone Summit Wealth LLC now owns 1,446 shares of the technology company’s stock worth $318,000 after buying an additional 253 shares during the period. Finally, Angeles Wealth Management LLC boosted its position in International Business Machines by 18.1% during the 4th quarter. Angeles Wealth Management LLC now owns 3,556 shares of the technology company’s stock valued at $782,000 after acquiring an additional 545 shares in the last quarter. 58.96% of the stock is currently owned by institutional investors.

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.