International Business Machines (NYSE:IBM) Stock Rating Upgraded by Wall Street Zen

International Business Machines (NYSE:IBM) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other brokerages have also recently commented on IBM. Royal Bank Of Canada boosted their price target on International Business Machines from $285.00 to $315.00 and gave the stock an “outperform” rating in a research report on Thursday, July 17th. BMO Capital Markets boosted their price target on International Business Machines from $260.00 to $300.00 and gave the stock a “market perform” rating in a research report on Friday, July 18th. Bank of America dropped their price target on International Business Machines from $320.00 to $310.00 and set a “buy” rating on the stock in a research report on Thursday. Morgan Stanley dropped their price target on International Business Machines from $237.00 to $233.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. raised their price target on shares of International Business Machines from $244.00 to $290.00 and gave the company a “neutral” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, International Business Machines has an average rating of “Moderate Buy” and an average target price of $268.75.

International Business Machines Stock Performance

International Business Machines stock opened at $259.70 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.97 and a debt-to-equity ratio of 2.00. The firm has a 50-day moving average of $277.69 and a 200-day moving average of $255.81. The firm has a market cap of $241.36 billion, a P/E ratio of 42.16, a P/E/G ratio of 5.52 and a beta of 0.69. International Business Machines has a 1-year low of $181.81 and a 1-year high of $296.16.

International Business Machines (NYSE:IBM) last posted its earnings results on Wednesday, July 23rd. The technology company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.15. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The company had revenue of $16.98 billion during the quarter, compared to analyst estimates of $16.58 billion. During the same period in the prior year, the business posted $2.43 earnings per share. International Business Machines’s revenue for the quarter was up 7.7% on a year-over-year basis. Sell-side analysts expect that International Business Machines will post 10.78 EPS for the current year.

Institutional Trading of International Business Machines

A number of large investors have recently made changes to their positions in IBM. Brighton Jones LLC increased its holdings in shares of International Business Machines by 12.4% in the 4th quarter. Brighton Jones LLC now owns 21,011 shares of the technology company’s stock worth $4,619,000 after buying an additional 2,323 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of International Business Machines by 14.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 533,928 shares of the technology company’s stock worth $117,373,000 after purchasing an additional 68,760 shares during the period. Orion Portfolio Solutions LLC boosted its stake in shares of International Business Machines by 10.0% during the 4th quarter. Orion Portfolio Solutions LLC now owns 54,663 shares of the technology company’s stock worth $12,017,000 after purchasing an additional 4,985 shares during the period. RiverFront Investment Group LLC boosted its stake in shares of International Business Machines by 4.6% during the 4th quarter. RiverFront Investment Group LLC now owns 3,450 shares of the technology company’s stock worth $758,000 after purchasing an additional 151 shares during the period. Finally, Maridea Wealth Management LLC purchased a new position in shares of International Business Machines during the 4th quarter worth about $221,000. 58.96% of the stock is currently owned by institutional investors.

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.