International Business Machines (NYSE:IBM) Price Target Raised to $293.00

International Business Machines (NYSE:IBM) had its price target boosted by Morgan Stanley from $267.00 to $293.00 in a research note released on Tuesday morning, Marketbeat.com reports. Morgan Stanley currently has an equal weight rating on the technology company’s stock.

Several other equities analysts have also recently commented on IBM. Citigroup lifted their target price on shares of International Business Machines from $285.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. DZ Bank upgraded International Business Machines from a “hold” rating to a “buy” rating and set a $295.00 target price for the company in a report on Friday, April 24th. Weiss Ratings downgraded shares of International Business Machines from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, June 24th. Roth Capital reiterated a “buy” rating on shares of International Business Machines in a research note on Wednesday, June 3rd. Finally, HSBC cut shares of International Business Machines from a “hold” rating to a “reduce” rating and decreased their target price for the stock from $231.00 to $191.00 in a research note on Tuesday. Fifteen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, International Business Machines presently has a consensus rating of “Moderate Buy” and a consensus target price of $301.83.

International Business Machines Stock Up 3.9%

Shares of IBM opened at $219.39 on Tuesday. International Business Machines has a 12 month low of $204.44 and a 12 month high of $332.46. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 1.75. The company has a 50-day moving average price of $264.17 and a two-hundred day moving average price of $263.94. The stock has a market cap of $206.21 billion, a price-to-earnings ratio of 19.40, a P/E/G ratio of 2.06 and a beta of 0.68.

International Business Machines (NYSE:IBM) last announced its earnings results on Wednesday, April 22nd. The technology company reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.10. The company had revenue of $15.92 billion for the quarter, compared to analyst estimates of $15.60 billion. International Business Machines had a net margin of 15.61% and a return on equity of 37.23%. International Business Machines’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.60 earnings per share. Equities analysts predict that International Business Machines will post 12.33 EPS for the current fiscal year.

International Business Machines Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Friday, May 8th were issued a dividend of $1.69 per share. This is an increase from International Business Machines’s previous quarterly dividend of $1.68. This represents a $6.76 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was Friday, May 8th. International Business Machines’s payout ratio is presently 59.77%.

Institutional Investors Weigh In On International Business Machines

Several institutional investors have recently bought and sold shares of IBM. Norges Bank acquired a new position in International Business Machines in the fourth quarter worth $2,446,429,000. Capital World Investors raised its stake in shares of International Business Machines by 29.2% during the fourth quarter. Capital World Investors now owns 22,021,912 shares of the technology company’s stock valued at $6,523,720,000 after purchasing an additional 4,976,756 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of International Business Machines by 83.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,617,117 shares of the technology company’s stock worth $1,663,847,000 after acquiring an additional 2,553,552 shares during the period. Corient Private Wealth LLC boosted its stake in International Business Machines by 359.6% during the 4th quarter. Corient Private Wealth LLC now owns 1,896,675 shares of the technology company’s stock valued at $561,814,000 after purchasing an additional 1,484,026 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of International Business Machines by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 97,216,131 shares of the technology company’s stock valued at $28,796,390,000 after purchasing an additional 1,439,824 shares in the last quarter. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Key International Business Machines News

Here are the key news stories impacting International Business Machines this week:

• Negative Sentiment: IBM’s preliminary Q2 results came in below expectations, with softer revenue and adjusted EPS fueling the sharp selloff and a major reset in investor confidence. Article Title
• Negative Sentiment: Management said some large deals were delayed as customers reassessed spending, reinforcing concerns that IBM is being hurt by changing enterprise tech budgets and slower software demand. Article Title
• Negative Sentiment: Several reports highlighted the stock’s historic one-day drop, securities-fraud investigations, and analyst downgrades/target cuts, all of which can keep sentiment and trading pressure negative. Article Title

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.