International Business Machines (NYSE:IBM) Price Target Raised to $300.00

International Business Machines (NYSE:IBM) had its price target raised by BMO Capital Markets from $260.00 to $300.00 in a research report report published on Friday morning,Benzinga reports. BMO Capital Markets currently has a market perform rating on the technology company’s stock.

Several other research firms have also recently commented on IBM. Wall Street Zen cut shares of International Business Machines from a “buy” rating to a “hold” rating in a report on Wednesday, May 21st. Bank of America lifted their target price on shares of International Business Machines from $290.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, June 18th. Royal Bank Of Canada upped their price target on shares of International Business Machines from $285.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday. UBS Group reiterated a “sell” rating and set a $195.00 price objective (up from $170.00) on shares of International Business Machines in a report on Wednesday, July 9th. Finally, KGI Securities set a $242.00 target price on International Business Machines and gave the company a “hold” rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $266.19.

International Business Machines Stock Up 1.4%

Shares of NYSE:IBM opened at $286.04 on Friday. The firm has a 50 day simple moving average of $276.39 and a 200 day simple moving average of $254.50. International Business Machines has a 52 week low of $181.81 and a 52 week high of $296.16. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.97 and a current ratio of 1.01. The company has a market cap of $265.85 billion, a PE ratio of 49.23, a price-to-earnings-growth ratio of 6.00 and a beta of 0.69.

International Business Machines (NYSE:IBM) last issued its earnings results on Wednesday, April 23rd. The technology company reported $1.60 EPS for the quarter, topping the consensus estimate of $1.42 by $0.18. International Business Machines had a return on equity of 37.43% and a net margin of 8.71%. The business had revenue of $14.54 billion during the quarter, compared to analysts’ expectations of $14.41 billion. During the same quarter last year, the firm posted $1.68 earnings per share. International Business Machines’s 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 year.

International Business Machines Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were paid a dividend of $1.68 per share. This is a boost from International Business Machines’s previous quarterly dividend of $1.67. This represents a $6.72 annualized dividend and a yield of 2.35%. International Business Machines’s dividend payout ratio is presently 115.66%.

Institutional Trading of International Business Machines

Several institutional investors have recently made changes to their positions in IBM. Brighton Jones LLC increased its position in shares of International Business Machines by 12.4% during the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after purchasing an additional 2,323 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in shares of International Business Machines by 81.5% during the fourth quarter. Proficio Capital Partners LLC now owns 2,686 shares of the technology company’s stock worth $591,000 after buying an additional 1,206 shares in the last quarter. Sandy Spring Bank raised its stake in shares of International Business Machines by 23.1% in the fourth quarter. Sandy Spring Bank now owns 13,523 shares of the technology company’s stock valued at $2,973,000 after acquiring an additional 2,542 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in shares of International Business Machines by 152.0% in the 4th quarter. iA Global Asset Management Inc. now owns 5,397 shares of the technology company’s stock worth $1,186,000 after acquiring an additional 3,255 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC grew its position in International Business Machines by 2.3% during the 4th quarter. Douglass Winthrop Advisors LLC now owns 18,263 shares of the technology company’s stock worth $4,015,000 after acquiring an additional 414 shares during the last quarter. 58.96% of the stock is currently 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.