International Business Machines (NYSE:IBM) Cut to Hold at Erste Group Bank

Erste Group Bank lowered shares of International Business Machines (NYSE:IBM) from a buy rating to a hold rating in a report issued on Thursday morning, MarketBeat reports.

Several other brokerages have also commented on IBM. JPMorgan Chase & Co. upped their price target on shares of International Business Machines from $244.00 to $290.00 and gave the stock a “neutral” rating in a research report on Thursday, July 24th. Stifel Nicolaus upped their price target on shares of International Business Machines from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Melius Research raised shares of International Business Machines to a “strong-buy” rating in a research report on Monday, July 7th. BMO Capital Markets upped their price target on shares of 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. Finally, 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 report on Thursday, July 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, International Business Machines currently has an average rating of “Moderate Buy” and an average target price of $268.75.

International Business Machines Stock Up 1.1%

Shares of NYSE IBM opened at $239.75 on Thursday. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.91 and a quick ratio of 0.87. The company has a market capitalization of $222.82 billion, a PE ratio of 38.92, a price-to-earnings-growth ratio of 3.69 and a beta of 0.69. The firm’s 50-day moving average is $273.29 and its two-hundred day moving average is $258.66. International Business Machines has a 12-month low of $192.86 and a 12-month high of $296.16.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, July 23rd. The technology company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.15. The business had revenue of $16.98 billion for the quarter, compared to the consensus estimate of $16.58 billion. International Business Machines had a net margin of 9.11% and a return on equity of 37.62%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.43 earnings per share. Equities analysts anticipate that International Business Machines will post 10.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Parr Mcknight Wealth Management Group LLC boosted its stake in shares of International Business Machines by 304.8% in the second quarter. Parr Mcknight Wealth Management Group LLC now owns 12,643 shares of the technology company’s stock valued at $3,727,000 after purchasing an additional 9,520 shares during the period. Winslow Asset Management Inc. boosted its stake in shares of International Business Machines by 0.7% in the second quarter. Winslow Asset Management Inc. now owns 42,886 shares of the technology company’s stock valued at $12,642,000 after purchasing an additional 301 shares during the period. Evergreen Capital Management LLC boosted its stake in shares of International Business Machines by 5.9% in the second quarter. Evergreen Capital Management LLC now owns 12,604 shares of the technology company’s stock valued at $3,715,000 after purchasing an additional 704 shares during the period. Strategic Investment Advisors MI boosted its stake in shares of International Business Machines by 11.5% in the second quarter. Strategic Investment Advisors MI now owns 1,206 shares of the technology company’s stock valued at $355,000 after purchasing an additional 124 shares during the period. Finally, High Falls Advisors Inc boosted its stake in shares of International Business Machines by 318.7% in the second quarter. High Falls Advisors Inc now owns 3,944 shares of the technology company’s stock valued at $1,163,000 after purchasing an additional 3,002 shares during the period. 58.96% of the stock is currently owned by hedge funds and other 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.