International Business Machines (NYSE:IBM) Lowered to Hold Rating by Erste Group Bank

Erste Group Bank downgraded shares of International Business Machines (NYSE:IBM) from a buy rating to a hold rating in a research note published on Wednesday morning, Marketbeat Ratings reports.

A number of other analysts have also commented on the company. DZ Bank upgraded International Business Machines to a “hold” rating in a report on Wednesday, February 11th. JPMorgan Chase & Co. lifted their target price on International Business Machines from $312.00 to $317.00 and gave the stock a “neutral” rating in a research note on Thursday, January 29th. Sanford C. Bernstein restated a “market perform” rating on shares of International Business Machines in a research report on Wednesday, December 10th. Morgan Stanley set a $304.00 price objective on shares of International Business Machines in a report on Thursday, January 29th. Finally, Jefferies Financial Group lifted their price objective on shares of International Business Machines from $360.00 to $370.00 and gave the stock a “buy” rating in a research report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $330.07.

International Business Machines Stock Performance

Shares of IBM stock opened at $260.96 on Wednesday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.96 and a quick ratio of 0.92. The firm has a 50-day moving average of $296.22 and a 200-day moving average of $284.16. International Business Machines has a one year low of $214.50 and a one year high of $324.90. The company has a market cap of $243.92 billion, a P/E ratio of 23.40, a P/E/G ratio of 2.59 and a beta of 0.69.

International Business Machines (NYSE:IBM) last issued its quarterly earnings data on Wednesday, January 28th. The technology company reported $4.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.33 by $0.19. International Business Machines had a net margin of 15.69% and a return on equity of 38.15%. The business had revenue of $19.69 billion during the quarter, compared to the consensus estimate of $19.23 billion. During the same period in the prior year, the firm posted $3.92 EPS. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. Equities research analysts forecast that International Business Machines will post 10.78 EPS for the current fiscal year.

International Business Machines Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 10th will be issued a dividend of $1.68 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $6.72 dividend on an annualized basis and a yield of 2.6%. International Business Machines’s payout ratio is presently 60.27%.

Insider Activity at International Business Machines

In related news, Director David N. Farr purchased 1,000 shares of International Business Machines stock in a transaction dated Friday, January 30th. The stock was bought at an average cost of $304.00 per share, for a total transaction of $304,000.00. Following the completion of the transaction, the director owned 9,258 shares in the company, valued at $2,814,432. This trade represents a 12.11% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.18% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. CVA Family Office LLC increased its holdings in International Business Machines by 1.4% during the 4th quarter. CVA Family Office LLC now owns 2,389 shares of the technology company’s stock worth $708,000 after acquiring an additional 33 shares during the period. Foster Group Inc. increased its holdings in shares of International Business Machines by 1.3% in the fourth quarter. Foster Group Inc. now owns 2,507 shares of the technology company’s stock worth $742,000 after purchasing an additional 33 shares during the period. New Covenant Trust Company N.A. raised its position in shares of International Business Machines by 3.8% in the fourth quarter. New Covenant Trust Company N.A. now owns 905 shares of the technology company’s stock worth $264,000 after buying an additional 33 shares in the last quarter. McGowan Group Asset Management Inc. boosted its stake in International Business Machines by 1.2% during the fourth quarter. McGowan Group Asset Management Inc. now owns 2,693 shares of the technology company’s stock valued at $798,000 after buying an additional 33 shares during the period. Finally, CFS Investment Advisory Services LLC grew its position in International Business Machines by 0.4% during the third quarter. CFS Investment Advisory Services LLC now owns 9,359 shares of the technology company’s stock worth $2,878,000 after buying an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Company Profile

International Business Machines Corporation (IBM) is a global technology and consulting company headquartered in Armonk, New York. Founded in 1911 as the Computing-Tabulating-Recording Company (CTR) and renamed IBM in 1924, the company has evolved from early electromechanical machines to a diversified technology provider serving enterprises and governments worldwide. IBM is publicly traded on the New York Stock Exchange under the ticker symbol IBM.

IBM’s principal businesses encompass cloud computing and software, infrastructure and systems, consulting and technology services, and research and development.